Traders Sell Cerner Corporation (CERN) on Strength (CERN)
Traders sold shares of Cerner Corporation (NASDAQ:CERN) on strength during trading on Wednesday. $151.39 million flowed into the stock on the tick-up and $167.56 million flowed out of the stock on the tick-down, for a money net flow of $16.17 million out of the stock. Of all stocks tracked, Cerner Corporation had the 0th highest net out-flow for the day. Cerner Corporation traded up $3.35 for the day and closed at $70.03
Several research analysts have recently commented on the company. Cantor Fitzgerald restated a “buy” rating and set a $77.00 price target on shares of Cerner Corporation in a research report on Tuesday, October 10th. KeyCorp restated a “buy” rating and set a $76.00 price target on shares of Cerner Corporation in a research report on Friday, September 22nd. Robert W. Baird restated a “hold” rating and set a $67.00 price target on shares of Cerner Corporation in a research report on Thursday, August 31st. SunTrust Banks, Inc. restated a “buy” rating and set a $79.00 price target on shares of Cerner Corporation in a research report on Thursday, October 19th. Finally, Zacks Investment Research lowered Cerner Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the stock. Cerner Corporation has an average rating of “Hold” and an average target price of $69.61.
The company has a market capitalization of $23,279.02, a price-to-earnings ratio of 30.99, a PEG ratio of 2.26 and a beta of 0.93. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11.
Cerner Corporation (NASDAQ:CERN) last released its earnings results on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Cerner Corporation had a net margin of 13.37% and a return on equity of 18.03%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. equities analysts predict that Cerner Corporation will post 2.25 earnings per share for the current fiscal year.
In related news, COO Michael Nill sold 99,470 shares of Cerner Corporation stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total value of $7,007,661.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Clifford W. Illig sold 530,000 shares of Cerner Corporation stock in a transaction on Monday, November 20th. The shares were sold at an average price of $65.54, for a total value of $34,736,200.00. Following the completion of the transaction, the chairman now owns 1,229,719 shares of the company’s stock, valued at $80,595,783.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 927,470 shares of company stock valued at $61,604,482. 13.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of CERN. State of Alaska Department of Revenue raised its stake in Cerner Corporation by 6.9% in the second quarter. State of Alaska Department of Revenue now owns 4,015 shares of the company’s stock valued at $266,000 after buying an additional 260 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Cerner Corporation by 3.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 32,875 shares of the company’s stock valued at $2,185,000 after buying an additional 1,200 shares in the last quarter. APG Asset Management N.V. raised its stake in Cerner Corporation by 10.3% in the second quarter. APG Asset Management N.V. now owns 598,156 shares of the company’s stock valued at $39,759,000 after buying an additional 55,999 shares in the last quarter. Wellington Shields & Co. LLC acquired a new stake in Cerner Corporation in the second quarter valued at $213,000. Finally, First National Bank of Hutchinson raised its stake in Cerner Corporation by 2.6% in the second quarter. First National Bank of Hutchinson now owns 11,425 shares of the company’s stock valued at $749,000 after buying an additional 289 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.
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About Cerner Corporation
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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