Cerner Corp. (CERN) Short Interest Update
Cerner Corp. (NASDAQ:CERN) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 18,588,690 shares, a growth of 9.7% from the October 31st total of 16,949,010 shares. Currently, 6.2% of the shares of the stock are sold short. Based on an average trading volume of 6,037,718 shares, the short-interest ratio is presently 3.1 days.
In other Cerner Corp. news, Director William D. Zollars sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $51.50, for a total value of $515,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda M. Dillman sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $64.68, for a total transaction of $388,080.00. The disclosure for this sale can be found here. Insiders own 13.20% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Washington Trust Bank boosted its stake in shares of Cerner Corp. by 0.4% in the third quarter. Washington Trust Bank now owns 3,664 shares of the company’s stock worth $226,000 after buying an additional 13 shares during the last quarter. Alpha Windward LLC boosted its position in Cerner Corp. by 2.2% in the second quarter. Alpha Windward LLC now owns 2,061 shares of the company’s stock valued at $121,000 after buying an additional 44 shares in the last quarter. Ranger Investment Management L.P. boosted its position in Cerner Corp. by 1.1% in the second quarter. Ranger Investment Management L.P. now owns 4,580 shares of the company’s stock valued at $268,000 after buying an additional 50 shares in the last quarter. Laurel Wealth Advisors Inc. boosted its position in Cerner Corp. by 1.3% in the third quarter. Laurel Wealth Advisors Inc. now owns 3,866 shares of the company’s stock valued at $239,000 after buying an additional 50 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in Cerner Corp. by 0.5% in the second quarter. Pacer Advisors Inc. now owns 10,226 shares of the company’s stock valued at $599,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 81.17% of the company’s stock.
Shares of Cerner Corp. (NASDAQ:CERN) opened at 49.78 on Thursday. Cerner Corp. has a 12 month low of $48.04 and a 12 month high of $67.50. The company has a market cap of $16.90 billion, a P/E ratio of 26.32 and a beta of 1.11. The stock’s 50 day moving average price is $55.06 and its 200-day moving average price is $59.05.
Cerner Corp. (NASDAQ:CERN) last posted its earnings results on Tuesday, November 1st. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by $0.01. Cerner Corp. had a net margin of 13.85% and a return on equity of 18.39%. The firm earned $1.19 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the company posted $0.54 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts expect that Cerner Corp. will post $2.30 earnings per share for the current year.
Several brokerages have recently commented on CERN. Zacks Investment Research upgraded shares of Cerner Corp. from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Tuesday, October 4th. Bank of America Corp. started coverage on shares of Cerner Corp. in a research note on Monday, September 19th. They set a “neutral” rating and a $67.00 price objective on the stock. Barclays PLC lifted their price objective on shares of Cerner Corp. from $55.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 3rd. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $67.00 price objective on shares of Cerner Corp. in a research note on Friday, October 14th. Finally, Cowen and Company lowered shares of Cerner Corp. from an “outperform” rating to a “market perform” rating and set a $65.00 price target on the stock. in a research note on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Cerner Corp. presently has a consensus rating of “Hold” and an average target price of $64.88.
About Cerner Corp.
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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