Cerner Corporation (NASDAQ:CERN) Chairman Clifford W. Illig sold 530,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $65.54, for a total transaction of $34,736,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Cerner Corporation (NASDAQ CERN) traded up $0.33 during midday trading on Monday, hitting $65.73. 1,887,757 shares of the company traded hands, 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 company 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 results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). Cerner Corporation had a net margin of 13.37% and a return on equity of 18.03%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $0.59 earnings per share. Cerner Corporation’s revenue for the quarter was up 7.7% on a year-over-year basis. sell-side analysts anticipate that Cerner Corporation will post 2.26 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of CERN. Dimensional Fund Advisors LP boosted its holdings in Cerner Corporation by 1.5% in 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 boosted its holdings in Cerner Corporation by 6.9% in 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. bought a new stake in Cerner Corporation in the 2nd quarter valued at $318,000. Oregon Public Employees Retirement Fund boosted its holdings in Cerner Corporation by 3.8% in 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 boosted its holdings in Cerner Corporation by 1.1% in 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 owned by hedge funds and other institutional investors.
Several research firms have weighed in on CERN. Morgan Stanley upgraded shares of Cerner Corporation from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $59.00 to $62.00 in a research note on Thursday, August 10th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $75.00 price objective on shares of Cerner Corporation in a research note on Monday, October 30th. BidaskClub lowered shares of Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Jefferies Group LLC set a $79.00 price objective on shares of Cerner Corporation and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, Royal Bank Of Canada began coverage on shares of Cerner Corporation in a research note on Tuesday, September 19th. They issued a “top pick” rating and a $84.00 price objective on the stock. One 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 company’s stock. Cerner Corporation currently has a consensus rating of “Hold” and a consensus price target of $70.00.
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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