Traders Buy Shares of Cerner Corp. (CERN) on Weakness
Traders purchased shares of Cerner Corp. (NASDAQ:CERN) on weakness during trading 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 stocks 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
A number of brokerages have recently issued reports on CERN. Robert W. Baird restated a “buy” rating on shares of Cerner Corp. in a research report on Sunday, May 8th. FBR & Co restated a “buy” rating on shares of Cerner Corp. in a research report on Sunday, May 8th. Canaccord Genuity restated a “buy” rating on shares of Cerner Corp. in a research report on Sunday, May 8th. KeyCorp restated a “buy” rating on shares of Cerner Corp. in a research report on Sunday, May 22nd. Finally, Citigroup Inc. raised their price objective on Cerner Corp. from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $65.62.
The stock has a market cap of $21.87 billion and a PE ratio of 35.57. The stock’s 50 day moving average is $64.22 and its 200 day moving average is $57.39.
Cerner Corp. (NASDAQ:CERN) last announced its earnings results on Tuesday, August 2nd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm earned $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the company posted $0.52 EPS. The firm’s revenue was up 8.0% on a year-over-year basis. Equities research analysts predict that Cerner Corp. will post $2.36 EPS for the current year.
In related news, VP Michael R. Battaglioli sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $67.34, for a total value of $134,680.00. Following the sale, the vice president now owns 2,000 shares in the company, valued at approximately $134,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Zane M. Burke sold 149,480 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $66.73, for a total value of $9,974,800.40. 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.