Cerner Corporation (NASDAQ:CERN) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 11,480,091 shares, a decrease of 14.6% from the October 13th total of 13,441,506 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 2,946,978 shares, the days-to-cover ratio is currently 3.9 days.
A number of research analysts have commented on CERN shares. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $77.00 price objective on shares of Cerner Corporation in a report on Thursday, October 12th. Cantor Fitzgerald reissued a “buy” rating and set a $77.00 target price on shares of Cerner Corporation in a report on Tuesday, October 10th. KeyCorp reissued a “buy” rating and set a $76.00 target price on shares of Cerner Corporation in a report on Friday, September 22nd. Canaccord Genuity reissued a “buy” rating and set a $69.00 target price on shares of Cerner Corporation in a report on Wednesday, September 6th. Finally, Jefferies Group LLC set a $79.00 target price on Cerner Corporation and gave the stock a “buy” rating in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Cerner Corporation presently has an average rating of “Hold” and an average price target of $69.79.
In other Cerner Corporation news, Chairman Clifford W. Illig sold 4,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $65.96, for a total value of $263,840.00. Following the transaction, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at approximately $81,112,265.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael Nill sold 99,470 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total value of $7,007,661.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 257,470 shares of company stock worth $17,695,482. Insiders own 13.20% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN raised its position in shares of Cerner Corporation by 9.4% during the third quarter. Wells Fargo & Company MN now owns 825,582 shares of the company’s stock worth $58,880,000 after acquiring an additional 71,054 shares during the last quarter. Zeke Capital Advisors LLC acquired a new stake in Cerner Corporation during the third quarter worth approximately $468,000. Amalgamated Bank grew its stake in Cerner Corporation by 3.2% during the third quarter. Amalgamated Bank now owns 35,115 shares of the company’s stock worth $2,504,000 after purchasing an additional 1,083 shares during the period. Twin Capital Management Inc. grew its stake in Cerner Corporation by 7.3% during the third quarter. Twin Capital Management Inc. now owns 21,357 shares of the company’s stock worth $1,523,000 after purchasing an additional 1,452 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Cerner Corporation by 17.3% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,618 shares of the company’s stock worth $1,827,000 after purchasing an additional 3,776 shares during the period. Institutional investors own 78.64% of the company’s stock.
Cerner Corporation (NASDAQ CERN) opened at $65.31 on Friday. Cerner Corporation has a 1 year low of $47.01 and a 1 year high of $73.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.75 and a current ratio of 2.77. The stock has a market capitalization of $21,710.02, a PE ratio of 28.90, a PEG ratio of 2.10 and a beta of 0.93.
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). Cerner Corporation had a return on equity of 18.03% and a net margin of 13.37%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business earned $0.59 earnings per share. Cerner Corporation’s revenue was up 7.7% compared to the same quarter last year. research analysts predict that Cerner Corporation will post 2.26 EPS for the current fiscal year.
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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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