Cerner Corporation (CERN) SVP Sells $4,081,800.00 in Stock
Cerner Corporation (NASDAQ:CERN) SVP Randy D. Sims sold 60,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $68.03, for a total transaction of $4,081,800.00. Following the completion of the sale, the senior vice president now owns 60,890 shares of the company’s stock, valued at approximately $4,142,346.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Cerner Corporation (NASDAQ:CERN) opened at 69.35 on Friday. The firm has a market capitalization of $23.00 billion, a PE ratio of 35.04 and a beta of 0.95. Cerner Corporation has a 1-year low of $47.01 and a 1-year high of $69.91. The firm’s 50 day moving average is $64.89 and its 200 day moving average is $62.73.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company posted $0.58 earnings per share. Cerner Corporation’s revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that Cerner Corporation will post $2.50 EPS for the current fiscal year.
Cerner Corporation announced that its Board of Directors has authorized a share buyback plan on Thursday, May 25th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
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CERN has been the subject of several recent analyst reports. Robert W. Baird restated a “hold” rating and issued a $67.00 target price on shares of Cerner Corporation in a research note on Thursday, August 31st. Zacks Investment Research downgraded shares of Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $74.00 price target on shares of Cerner Corporation in a report on Thursday, June 1st. Canaccord Genuity reiterated a “buy” rating and issued a $69.00 price target on shares of Cerner Corporation in a report on Wednesday. Finally, BidaskClub downgraded shares of Cerner Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $65.71.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new stake in Cerner Corporation during the 1st quarter worth about $220,000. Waldron LP acquired a new stake in Cerner Corporation during the 1st quarter worth about $339,000. Oregon Public Employees Retirement Fund raised its holdings in Cerner Corporation by 0.9% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 31,675 shares of the company’s stock worth $1,864,000 after buying an additional 290 shares during the period. Wells Fargo & Company MN raised its holdings in Cerner Corporation by 13.5% during the 1st quarter. Wells Fargo & Company MN now owns 1,174,098 shares of the company’s stock worth $69,096,000 after buying an additional 139,202 shares during the period. Finally, Tyers Asset Management LLC raised its holdings in Cerner Corporation by 323.5% during the 1st quarter. Tyers Asset Management LLC now owns 25,616 shares of the company’s stock worth $1,507,000 after buying an additional 19,568 shares during the period. 78.94% of the stock is owned by institutional investors.
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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