Cerner Corporation (CERN) CEO Clifford W. Illig Sells 140,000 Shares of Stock
Cerner Corporation (NASDAQ:CERN) CEO Clifford W. Illig sold 140,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $65.52, for a total transaction of $9,172,800.00. Following the transaction, the chief executive officer now directly owns 1,229,719 shares in the company, valued at approximately $80,571,188.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Cerner Corporation (NASDAQ CERN) opened at $65.73 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.75 and a current ratio of 2.77. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $73.86. The company has a market cap of $21,850.00, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 2.10 and a beta of 0.93.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.01). Cerner Corporation had a net margin of 13.37% and a return on equity of 18.03%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. equities research analysts predict that Cerner Corporation will post 2.26 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Cerner Corporation by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock valued at $1,947,341,000 after acquiring an additional 876,919 shares during the period. BlackRock Inc. lifted its stake in Cerner Corporation by 0.8% during the 2nd quarter. BlackRock Inc. now owns 18,436,042 shares of the company’s stock valued at $1,225,441,000 after acquiring an additional 137,320 shares during the period. Bank of New York Mellon Corp lifted its stake in Cerner Corporation by 19.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,546,618 shares of the company’s stock valued at $1,166,325,000 after acquiring an additional 2,800,955 shares during the period. FMR LLC lifted its stake in Cerner Corporation by 0.8% during the 2nd quarter. FMR LLC now owns 5,652,931 shares of the company’s stock valued at $375,750,000 after acquiring an additional 43,521 shares during the period. Finally, Capital International Investors lifted its stake in Cerner Corporation by 0.3% during the 3rd quarter. Capital International Investors now owns 4,851,296 shares of the company’s stock valued at $345,994,000 after acquiring an additional 12,178 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.
A number of brokerages have recently issued reports on CERN. Royal Bank Of Canada downgraded shares of Cerner Corporation from a “top pick” rating to an “outperform” rating and cut their price objective for the stock from $84.00 to $74.00 in a research report on Thursday, November 2nd. Zacks Investment Research downgraded shares of Cerner Corporation from a “buy” rating to a “sell” rating in a research report on Tuesday, October 31st. Robert W. Baird raised shares of Cerner Corporation from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $67.00 to $76.00 in a research report on Tuesday, October 31st. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Cerner Corporation in a research report on Monday, October 30th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Cerner Corporation in a research report on Sunday, October 29th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $70.00.
About Cerner Corporation
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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