Clifford W. Illig Sells 250,000 Shares of Cerner Co. (CERN) Stock

Cerner Co. (NASDAQ:CERN) Vice Chairman Clifford W. Illig sold 250,000 shares of Cerner stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $57.53, for a total value of $14,382,500.00. Following the sale, the insider now directly owns 1,229,719 shares of the company’s stock, valued at $70,745,734.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of CERN traded down $0.72 during trading hours on Friday, hitting $56.72. The company had a trading volume of 1,925,497 shares, compared to its average volume of 2,244,561. The firm has a market cap of $18.93 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 1.88 and a beta of 0.92. The company has a current ratio of 2.63, a quick ratio of 2.60 and a debt-to-equity ratio of 0.09. Cerner Co. has a one year low of $50.91 and a one year high of $73.43.

Cerner (NASDAQ:CERN) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.33 billion. Cerner had a return on equity of 14.73% and a net margin of 15.72%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. On average, equities research analysts forecast that Cerner Co. will post 2.22 EPS for the current year.

CERN has been the subject of a number of research analyst reports. Zacks Investment Research lowered Cerner from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Royal Bank of Canada reaffirmed a “buy” rating and set a $72.00 target price on shares of Cerner in a research report on Friday, August 3rd. KeyCorp lifted their target price on Cerner from $71.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, August 3rd. SunTrust Banks lifted their target price on Cerner to $65.00 and gave the company a “hold” rating in a research report on Monday, August 6th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $80.00 target price on shares of Cerner in a research report on Wednesday, September 12th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $69.98.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HL Financial Services LLC purchased a new position in Cerner during the 3rd quarter worth $505,000. Wealth Enhancement Advisory Services LLC grew its stake in Cerner by 62.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 30,546 shares of the company’s stock valued at $1,889,000 after purchasing an additional 11,701 shares during the last quarter. Private Advisor Group LLC grew its stake in Cerner by 66.7% during the 3rd quarter. Private Advisor Group LLC now owns 10,570 shares of the company’s stock valued at $681,000 after purchasing an additional 4,231 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Cerner by 11.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 15,647 shares of the company’s stock valued at $1,008,000 after purchasing an additional 1,617 shares during the last quarter. Finally, Klingenstein Fields & Co. LLC grew its stake in Cerner by 9.8% during the 3rd quarter. Klingenstein Fields & Co. LLC now owns 10,055 shares of the company’s stock valued at $648,000 after purchasing an additional 900 shares during the last quarter. 76.40% of the stock is owned by hedge funds and other institutional investors.

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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