Traders Buy Shares of Cerner (CERN) on Weakness
Investors bought shares of Cerner Co. (NASDAQ:CERN) on weakness during trading hours on Thursday. $25.41 million flowed into the stock on the tick-up and $14.95 million flowed out of the stock on the tick-down, for a money net flow of $10.46 million into the stock. Of all companies tracked, Cerner had the 22nd highest net in-flow for the day. Cerner traded down ($0.24) for the day and closed at $53.40
A number of equities research analysts have commented on CERN shares. Zacks Investment Research lowered shares of Cerner from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Morgan Stanley decreased their price objective on shares of Cerner from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, December 3rd. Leerink Swann upgraded shares of Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research report on Monday, October 29th. Royal Bank of Canada downgraded shares of Cerner from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $72.00 to $54.00 in a research report on Friday, October 26th. Finally, Cantor Fitzgerald cut their target price on shares of Cerner from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $69.86.
The stock has a market cap of $17.94 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.60 and a current ratio of 2.63.
In other Cerner news, Vice Chairman Clifford W. Illig sold 435,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $57.95, for a total transaction of $25,208,250.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Clifford W. Illig sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $57.19, for a total transaction of $285,950.00. Following the sale, the insider now owns 1,229,719 shares in the company, valued at $70,327,629.61. The disclosure for this sale can be found here. Insiders sold a total of 690,000 shares of company stock worth $39,876,700 over the last quarter. 4.71% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Griffin Asset Management Inc. grew its stake in shares of Cerner by 2.5% during the 3rd quarter. Griffin Asset Management Inc. now owns 10,400 shares of the company’s stock worth $670,000 after acquiring an additional 250 shares in the last quarter. Altfest L J & Co. Inc. grew its stake in shares of Cerner by 3.8% in the fourth quarter. Altfest L J & Co. Inc. now owns 9,736 shares of the company’s stock valued at $511,000 after buying an additional 356 shares in the last quarter. Klingenstein Fields & Co. LLC grew its stake in shares of Cerner by 9.8% in the third quarter. Klingenstein Fields & Co. LLC now owns 10,055 shares of the company’s stock valued at $648,000 after buying an additional 900 shares in the last quarter. World Asset Management Inc grew its stake in shares of Cerner by 4.8% in the third quarter. World Asset Management Inc now owns 20,966 shares of the company’s stock valued at $1,350,000 after buying an additional 956 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Cerner by 34.5% in the third quarter. Parallel Advisors LLC now owns 4,025 shares of the company’s stock valued at $259,000 after buying an additional 1,032 shares in the last quarter. Hedge funds and other institutional investors own 77.66% of the company’s stock.
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Cerner Company Profile (NASDAQ:CERN)
Cerner Corporation provides health care information technology solutions and services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.
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