Investors Sell Shares of Cerner (CERN) on Strength (CERN)

Investors sold shares of Cerner (NASDAQ:CERN) on strength during trading on Monday. $22.45 million flowed into the stock on the tick-up and $41.62 million flowed out of the stock on the tick-down, for a money net flow of $19.17 million out of the stock. Of all stocks tracked, Cerner had the 0th highest net out-flow for the day. Cerner traded up $0.33 for the day and closed at $58.56

CERN has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Cerner from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Cantor Fitzgerald raised their target price on shares of Cerner to $83.00 and gave the company an “overweight” rating in a research note on Friday, January 5th. Wells Fargo set a $75.00 target price on shares of Cerner and gave the company a “buy” rating in a research note on Saturday, March 31st. Bank of America initiated coverage on shares of Cerner in a research note on Tuesday, February 27th. They issued a “buy” rating and a $75.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Cerner in a research note on Thursday, January 4th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $67.42.

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The company has a market capitalization of $19,426.45, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.70 and a beta of 0.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.99 and a current ratio of 3.01.

Cerner (NASDAQ:CERN) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.03). Cerner had a return on equity of 16.82% and a net margin of 16.86%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm earned $0.61 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. analysts predict that Cerner will post 2.42 earnings per share for the current year.

In related news, Director William D. Zollars sold 4,100 shares of Cerner stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $62.16, for a total transaction of $254,856.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jeffrey A. Townsend sold 230,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $61.94, for a total transaction of $14,246,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 541,800 shares of company stock worth $34,353,860 in the last ninety days. 4.71% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in CERN. APG Asset Management N.V. grew its holdings in Cerner by 153.1% during the 4th quarter. APG Asset Management N.V. now owns 1,121,956 shares of the company’s stock worth $62,965,000 after acquiring an additional 678,700 shares in the last quarter. BlackRock Inc. grew its holdings in Cerner by 2.2% during the 4th quarter. BlackRock Inc. now owns 19,519,304 shares of the company’s stock worth $1,315,406,000 after acquiring an additional 420,942 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in Cerner by 68.2% during the 4th quarter. State of Wisconsin Investment Board now owns 716,239 shares of the company’s stock worth $48,267,000 after acquiring an additional 290,527 shares in the last quarter. Schroder Investment Management Group grew its holdings in Cerner by 123.9% during the 4th quarter. Schroder Investment Management Group now owns 457,638 shares of the company’s stock worth $30,840,000 after acquiring an additional 253,200 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Cerner during the 4th quarter worth $17,036,000. 78.76% of the stock is owned by institutional investors.

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About Cerner

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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