Cerner Corporation (CERN) CEO Sells $9,172,800.00 in Stock
Cerner Corporation (NASDAQ:CERN) CEO Clifford W. Illig sold 140,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $65.52, for a total transaction of $9,172,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,229,719 shares of the company’s stock, valued at approximately $80,571,188.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Cerner Corporation (NASDAQ:CERN) traded up $0.33 during trading on Monday, reaching $65.73. 1,887,757 shares of the company’s stock were exchanged, compared to its average volume of 2,357,683. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11. The stock has a market cap of $21,850.00, a P/E ratio of 28.94, a P/E/G ratio of 2.10 and a beta of 0.93. Cerner Corporation has a fifty-two week low of $47.01 and a fifty-two week high of $73.86.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Cerner Corporation had a net margin of 13.37% and a return on equity of 18.03%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share. sell-side analysts expect that Cerner Corporation will post 2.26 EPS for the current fiscal year.
A number of research firms have commented on CERN. Morgan Stanley raised shares of Cerner Corporation from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $59.00 to $62.00 in a research note on Thursday, August 10th. SunTrust Banks, Inc. restated a “buy” rating and issued a $75.00 price objective on shares of Cerner Corporation in a report on Monday, October 30th. BidaskClub lowered shares of Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Jefferies Group LLC set a $79.00 price objective on shares of Cerner Corporation and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, Royal Bank Of Canada initiated coverage on shares of Cerner Corporation in a report on Tuesday, September 19th. They issued a “top pick” rating and a $84.00 price objective for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $70.00.
A number of institutional investors have recently modified their holdings of CERN. Dimensional Fund Advisors LP increased its position in Cerner Corporation by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 649,388 shares of the company’s stock valued at $38,217,000 after purchasing an additional 9,659 shares during the period. State of Alaska Department of Revenue increased its position in Cerner Corporation by 6.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,015 shares of the company’s stock valued at $266,000 after purchasing an additional 260 shares during the period. Eqis Capital Management Inc. purchased a new position in Cerner Corporation during the 2nd quarter valued at $318,000. Oregon Public Employees Retirement Fund increased its position in Cerner Corporation by 3.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 32,875 shares of the company’s stock valued at $2,185,000 after purchasing an additional 1,200 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Cerner Corporation by 1.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the company’s stock valued at $1,210,000 after purchasing an additional 200 shares during the period. 80.30% of the stock is currently owned by institutional investors and hedge funds.
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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