Cerner Corp. (CERN) Sees Strong Trading Volume
Shares of Cerner Corp. (NASDAQ:CERN) saw unusually-strong trading volume on Thursday . Approximately 2,567,724 shares were traded during trading, an increase of 6% from the previous session’s volume of 2,432,017 shares.The stock last traded at $59.26 and had previously closed at $58.79.
A number of equities research analysts recently commented on CERN shares. Vetr upgraded shares of Cerner Corp. from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Tuesday, April 19th. Zacks Investment Research lowered shares of Cerner Corp. from a “hold” rating to a “sell” rating in a report on Thursday, April 21st. Piper Jaffray Cos. reiterated a “buy” rating on shares of Cerner Corp. in a report on Wednesday, April 13th. Morgan Stanley reiterated a “hold” rating and set a $57.00 price target on shares of Cerner Corp. in a report on Monday, April 11th. Finally, FBR & Co reiterated a “buy” rating on shares of Cerner Corp. in a report on Wednesday, April 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $63.62.
The stock has a market cap of $20.49 billion and a P/E ratio of 36.74. The company’s 50 day moving average is $56.00 and its 200 day moving average is $55.54.
Cerner Corp. (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. During the same period in the previous year, the firm earned $0.45 earnings per share. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.17 billion. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, analysts predict that Cerner Corp. will post $2.35 earnings per share for the current fiscal year.
In other news, Director William D. Zollars sold 9,000 shares of Cerner Corp. stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $55.72, for a total transaction of $501,480.00. Following the completion of the sale, the director now directly owns 44,486 shares in the company, valued at $2,478,759.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Linda M. Dillman sold 3,700 shares of Cerner Corp. stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $54.46, for a total value of $201,502.00. Following the sale, the director now owns 34,243 shares of the company’s stock, valued at $1,864,873.78. The disclosure for this sale can be found here.
Other hedge funds have added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Cerner Corp. by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 26,052,197 shares of the company’s stock valued at $1,567,560,000 after buying an additional 510,118 shares during the period. New York State Common Retirement Fund increased its stake in Cerner Corp. by 72.4% in the fourth quarter. New York State Common Retirement Fund now owns 1,195,837 shares of the company’s stock valued at $71,954,000 after buying an additional 502,337 shares during the period. US Bancorp DE increased its stake in Cerner Corp. by 6.5% in the fourth quarter. US Bancorp DE now owns 595,177 shares of the company’s stock valued at $35,812,000 after buying an additional 36,568 shares during the period. Dimensional Fund Advisors LP increased its stake in Cerner Corp. by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 491,315 shares of the company’s stock valued at $29,564,000 after buying an additional 32,018 shares during the period. Finally, Brown Advisory Inc. increased its stake in Cerner Corp. by 26.4% in the fourth quarter. Brown Advisory Inc. now owns 283,242 shares of the company’s stock valued at $17,043,000 after buying an additional 59,151 shares during the period.
Cerner Corporation 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. Its segments include Domestic and Global. The Domestic segment includes the business activity in the United States.
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