Cerner Corporation (NASDAQ:CERN) Short Interest Down 19.6% in May
Cerner Corporation (NASDAQ:CERN) was the target of a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 15,157,515 shares, a decline of 19.6% from the May 15th total of 18,845,404 shares. Currently, 5.2% of the shares of the company are sold short. Based on an average trading volume of 2,503,476 shares, the short-interest ratio is currently 6.1 days.
A number of brokerages have recently issued reports on CERN. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $77.00 price objective (up previously from $68.00) on shares of Cerner Corporation in a research note on Monday, June 5th. UBS AG reaffirmed a “neutral” rating and issued a $69.00 price objective (up previously from $64.00) on shares of Cerner Corporation in a research note on Tuesday, June 6th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $72.00 price target (up from $65.00) on shares of Cerner Corporation in a report on Tuesday, June 6th. Canaccord Genuity reiterated a “buy” rating and set a $66.00 price target on shares of Cerner Corporation in a report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Cerner Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $64.89.
In other news, Director Denis A. Cortese sold 1,550 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $64.39, for a total value of $99,804.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael Nill sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $63.91, for a total transaction of $7,030,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 704,542 shares of company stock worth $45,885,490. Insiders own 13.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CERN. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Cerner Corporation by 0.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,321 shares of the company’s stock worth $820,000 after buying an additional 155 shares in the last quarter. Concentric Wealth Management LLC purchased a new position in shares of Cerner Corporation during the fourth quarter worth approximately $893,000. Honkamp Krueger Financial Services Inc. ADV purchased a new position in shares of Cerner Corporation during the fourth quarter worth approximately $255,000. Van ECK Associates Corp boosted its position in shares of Cerner Corporation by 36.1% in the fourth quarter. Van ECK Associates Corp now owns 229,995 shares of the company’s stock worth $10,895,000 after buying an additional 61,060 shares during the period. Finally, FNY Partners Fund LP purchased a new position in shares of Cerner Corporation during the fourth quarter worth approximately $137,000. Institutional investors and hedge funds own 82.77% of the company’s stock.
Cerner Corporation (NASDAQ:CERN) traded up 0.94% during midday trading on Friday, hitting $65.83. 1,022,358 shares of the stock traded hands. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $69.28. The firm has a market cap of $21.75 billion, a PE ratio of 33.93 and a beta of 0.96. The company’s 50 day moving average price is $66.03 and its 200 day moving average price is $57.87.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings results on Thursday, April 27th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Cerner Corporation had a return on equity of 18.36% and a net margin of 13.40%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. Equities research analysts predict that Cerner Corporation will post $2.51 earnings per share for the current fiscal year.
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Cerner Corporation Company Profile
Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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