Investors Buy Cerner Corp. (CERN) on Weakness
Investors purchased shares of Cerner Corp. (NASDAQ:CERN) on weakness during trading hours on Friday. $19.54 million flowed into the stock on the tick-up and $11.01 million flowed out of the stock on the tick-down, for a money net flow of $8.53 million into the stock. Of all equities tracked, Cerner Corp. had the 54th highest net in-flow for the day. Cerner Corp. traded down ($0.24) for the day and closed at $64.77
CERN has been the topic of several recent research reports. Topeka Capital Markets decreased their price target on shares of Cerner Corp. from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, May 6th. Robert W. Baird reiterated a “buy” rating on shares of Cerner Corp. in a research report on Sunday, May 8th. Canaccord Genuity reiterated a “buy” rating on shares of Cerner Corp. in a research report on Sunday, May 8th. FBR & Co reiterated a “buy” rating on shares of Cerner Corp. in a research report on Sunday, May 8th. Finally, Zacks Investment Research upgraded shares of Cerner Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $65.62.
The stock’s 50 day moving average is $64.22 and its 200-day moving average is $57.39. The stock has a market cap of $21.87 billion and a price-to-earnings ratio of 35.57.
Cerner Corp. (NASDAQ:CERN) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The company earned $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. On average, equities research analysts predict that Cerner Corp. will post $2.36 earnings per share for the current year.
In other Cerner Corp. news, Vice Chairman Clifford W. Illig sold 325,705 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $65.10, for a total value of $21,203,395.50. Following the sale, the insider now owns 6,652,392 shares of the company’s stock, valued at approximately $433,070,719.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Neal L. Patterson sold 428,638 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $67.14, for a total value of $28,778,755.32. The disclosure for this sale can be found here.
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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