Cerner Corporation (CERN) Shares Gap Down to $65.31
Cerner Corporation (NASDAQ:CERN)’s share price gapped down prior to trading on Monday . The stock had previously closed at $67.76, but opened at $65.31. Cerner Corporation shares last traded at $65.93, with a volume of 1,389,235 shares traded.
A number of brokerages recently issued reports on CERN. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $79.00 price target on shares of Cerner Corporation in a research note on Thursday, October 19th. Zacks Investment Research upgraded shares of Cerner Corporation from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research note on Tuesday, October 17th. Royal Bank Of Canada reiterated a “buy” rating on shares of Cerner Corporation in a research note on Wednesday, October 25th. Jefferies Group LLC set a $79.00 price target on shares of Cerner Corporation and gave the stock a “buy” rating in a research note on Friday, October 13th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $77.00 price target on shares of Cerner Corporation in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. Cerner Corporation currently has an average rating of “Hold” and a consensus price target of $69.30.
The company’s 50 day moving average is $70.96 and its 200-day moving average is $66.49. The firm has a market capitalization of $22.39 billion, a PE ratio of 34.12 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last released its earnings results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the business posted $0.59 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts expect that Cerner Corporation will post $2.44 earnings per share for the current fiscal year.
In related news, SVP Randy D. Sims sold 60,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $68.03, for a total value of $4,081,800.00. Following the completion of the transaction, the senior vice president now owns 60,890 shares of the company’s stock, valued at $4,142,346.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Nill sold 99,470 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total transaction of $7,007,661.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,583 shares of company stock valued at $24,758,191. 13.20% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Advisory Services Network LLC raised its position in Cerner Corporation by 4.4% in the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after purchasing an additional 70 shares in the last quarter. Acrospire Investment Management LLC raised its position in Cerner Corporation by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after purchasing an additional 900 shares in the last quarter. Pacad Investment Ltd. acquired a new position in Cerner Corporation in the second quarter worth about $130,000. Sun Life Financial INC raised its position in Cerner Corporation by 23,700.0% in the second quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock worth $142,000 after purchasing an additional 2,133 shares in the last quarter. Finally, ETF Managers Group LLC acquired a new position in Cerner Corporation in the second quarter worth about $157,000. 78.90% of the stock is owned by hedge funds and other institutional investors.
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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