Investors Sell Cerner Corporation (CERN) on Strength (CERN)
Traders sold shares of Cerner Corporation (NASDAQ:CERN) on strength during trading on Tuesday. $11.41 million flowed into the stock on the tick-up and $58.85 million flowed out of the stock on the tick-down, for a money net flow of $47.44 million out of the stock. Of all stocks tracked, Cerner Corporation had the 12th highest net out-flow for the day. Cerner Corporation traded up $0.43 for the day and closed at $72.51
Several research firms recently weighed in on CERN. Zacks Investment Research upgraded Cerner Corporation from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Tuesday. Jefferies Group LLC set a $79.00 target price on Cerner Corporation and gave the stock a “buy” rating in a research note on Friday. Piper Jaffray Companies restated a “buy” rating and set a $77.00 target price on shares of Cerner Corporation in a research note on Thursday, October 12th. Cantor Fitzgerald restated a “buy” rating and set a $77.00 target price on shares of Cerner Corporation in a research note on Tuesday, October 10th. Finally, KeyCorp restated a “buy” rating and set a $76.00 target price on shares of Cerner Corporation in a research note on Friday, September 22nd. Fourteen analysts have rated the stock with a hold rating, eight 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 “Hold” and a consensus target price of $68.53.
The company has a 50 day moving average of $70.00 and a 200-day moving average of $65.53. The company has a market capitalization of $24.04 billion, a price-to-earnings ratio of 36.64 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last issued its earnings results on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. Cerner Corporation’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS. On average, equities analysts forecast that Cerner Corporation will post $2.50 EPS for the current fiscal year.
In related news, President Zane M. Burke sold 94,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $67.47, for a total value of $6,342,180.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Clifford W. Illig sold 118,113 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $62.03, for a total value of $7,326,549.39. Following the completion of the sale, the chairman now directly owns 1,229,719 shares in the company, valued at approximately $76,279,469.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,583 shares of company stock valued at $24,758,191. Insiders own 13.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. ETF Managers Group LLC bought a new stake in shares of Cerner Corporation in the 2nd quarter worth approximately $157,000. Advisory Services Network LLC lifted its holdings in shares of Cerner Corporation by 4.4% in the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after purchasing an additional 70 shares during the last quarter. Acrospire Investment Management LLC lifted its holdings in shares of Cerner Corporation by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after purchasing an additional 900 shares during the last quarter. Johnson Financial Group Inc. lifted its holdings in shares of Cerner Corporation by 2.6% in the 1st quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock worth $110,000 after purchasing an additional 47 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new stake in shares of Cerner Corporation in the 2nd quarter worth approximately $130,000. 78.94% of the stock is currently owned by institutional investors and hedge funds.
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Cerner Corporation Company Profile
Cerner Corporation (Cerner) 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 of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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