Investors Buy Cerner Corp. (CERN) on Weakness
Investors purchased shares of Cerner Corp. (NASDAQ:CERN) on weakness during trading hours on Monday. $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 companies tracked, Cerner Corp. had the 24th highest net in-flow for the day. Cerner Corp. traded down ($0.24) for the day and closed at $64.77
A number of equities analysts have recently commented on CERN shares. Piper Jaffray Cos. reissued an “overweight” rating and issued a $81.00 price target on shares of Cerner Corp. in a research report on Monday, August 29th. Vetr lowered shares of Cerner Corp. from a “buy” rating to a “hold” rating and set a $64.78 price target on the stock. in a research report on Monday, August 1st. Jefferies Group reissued a “buy” rating on shares of Cerner Corp. in a research report on Friday, June 10th. Zacks Investment Research raised shares of Cerner Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Cerner Corp. in a research report on Sunday, June 26th. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $65.62.
The stock has a market capitalization of $21.87 billion and a PE ratio of 35.57. The firm has a 50 day moving average of $64.22 and a 200 day moving average of $57.39.
Cerner Corp. (NASDAQ:CERN) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.58 EPS for the quarter, topping 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 for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. Equities analysts anticipate that Cerner Corp. will post $2.36 earnings per share for the current fiscal year.
In related news, Vice Chairman Clifford W. Illig sold 325,705 shares of the firm’s stock in a transaction dated 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 directly owns 6,652,392 shares of the company’s stock, valued at $433,070,719.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Nill sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $67.16, for a total value of $3,358,000.00. 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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