Investors Sell Shares of Cerner Co. (CERN) on Strength (CERN)
Investors sold shares of Cerner Co. (NASDAQ:CERN) on strength during trading on Thursday. $151.39 million flowed into the stock on the tick-up and $167.56 million flowed out of the stock on the tick-down, for a money net flow of $16.17 million out of the stock. Of all companies tracked, Cerner had the 0th highest net out-flow for the day. Cerner traded up $3.35 for the day and closed at $70.03
A number of brokerages have weighed in on CERN. Royal Bank Of Canada reiterated a “buy” rating on shares of Cerner in a research report on Wednesday, October 25th. Jefferies Group LLC reiterated a “buy” rating on shares of Cerner in a research report on Sunday, October 29th. Zacks Investment Research cut shares of Cerner from a “buy” rating to a “sell” rating in a research report on Tuesday, October 31st. Stifel Nicolaus reiterated a “hold” rating and set a $69.00 price target on shares of Cerner in a research report on Friday, July 28th. Finally, BidaskClub upgraded shares of Cerner from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.61.
The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75. The stock has a market capitalization of $23,640.00, a P/E ratio of 30.99, a PEG ratio of 2.26 and a beta of 0.93.
Cerner (NASDAQ:CERN) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Cerner had a return on equity of 18.03% and a net margin of 13.37%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. equities analysts predict that Cerner Co. will post 2.25 earnings per share for the current year.
In other news, SVP Randy D. Sims sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $68.03, for a total transaction of $4,081,800.00. Following the completion of the sale, the senior vice president now owns 60,890 shares in the company, valued at approximately $4,142,346.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Clifford W. Illig sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $65.96, for a total transaction of $263,840.00. Following the sale, the chairman now owns 1,229,719 shares of the company’s stock, valued at approximately $81,112,265.24. The disclosure for this sale can be found here. Insiders have sold a total of 927,470 shares of company stock valued at $61,604,482 in the last 90 days. Insiders own 13.20% of the company’s stock.
Several large investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Cerner in the 3rd quarter valued at $128,000. Archford Capital Strategies LLC increased its holdings in shares of Cerner by 1,286.0% in the 3rd quarter. Archford Capital Strategies LLC now owns 2,980 shares of the company’s stock valued at $213,000 after acquiring an additional 2,765 shares during the period. Moors & Cabot Inc. acquired a new position in shares of Cerner in the 3rd quarter valued at $221,000. IFM Investors Pty Ltd acquired a new position in shares of Cerner in the 3rd quarter valued at $629,000. Finally, Fieldpoint Private Securities LLC acquired a new position in shares of Cerner in the 3rd quarter valued at $559,000. Institutional investors and hedge funds own 80.30% of the company’s stock.
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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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