Short Interest in Cerner Co. (CERN) Declines By 27.4%
Cerner Co. (NASDAQ:CERN) saw a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 18,845,404 shares, a drop of 27.4% from the April 28th total of 25,971,226 shares. Approximately 6.5% of the shares of the company are sold short. Based on an average daily trading volume, of 3,236,188 shares, the short-interest ratio is presently 5.8 days.
Several equities research analysts recently commented on CERN shares. Canaccord Genuity reaffirmed a “buy” rating and set a $63.00 price objective on shares of Cerner in a research report on Friday, January 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $63.00 price objective on shares of Cerner in a research report on Tuesday, February 14th. Barclays PLC reaffirmed a “hold” rating and set a $60.00 price objective on shares of Cerner in a research report on Monday, May 1st. Leerink Swann set a $65.00 price objective on Cerner and gave the company a “hold” rating in a research report on Friday, April 28th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $66.00 price objective on shares of Cerner in a research report on Friday, February 10th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $64.33.
Cerner (NASDAQ:CERN) opened at 64.95 on Friday. The company has a market cap of $21.46 billion, a P/E ratio of 33.48 and a beta of 1.05. The stock has a 50 day moving average price of $62.33 and a 200 day moving average price of $54.94. Cerner has a 1-year low of $47.01 and a 1-year high of $67.50.
Cerner (NASDAQ:CERN) last issued its earnings results on Thursday, April 27th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. Cerner had a return on equity of 18.16% and a net margin of 13.27%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Cerner will post $2.51 EPS for the current fiscal year.
In related news, Vice Chairman Clifford W. Illig sold 234,525 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $64.43, for a total transaction of $15,110,445.75. Following the sale, the insider now directly owns 1,229,719 shares of the company’s stock, valued at $79,230,795.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Neal L. Patterson sold 20,000 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $54.91, for a total value of $1,098,200.00. The disclosure for this sale can be found here. Insiders have sold 598,342 shares of company stock worth $38,355,476 over the last ninety days. 13.20% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Argent Trust Co increased its stake in shares of Cerner by 18.8% in the third quarter. Argent Trust Co now owns 11,261 shares of the company’s stock worth $695,000 after buying an additional 1,783 shares during the last quarter. Sustainable Growth Advisers LP increased its stake in shares of Cerner by 8.9% in the third quarter. Sustainable Growth Advisers LP now owns 3,685,412 shares of the company’s stock worth $227,574,000 after buying an additional 301,229 shares during the last quarter. Probity Advisors Inc. increased its stake in shares of Cerner by 2.4% in the third quarter. Probity Advisors Inc. now owns 6,208 shares of the company’s stock worth $383,000 after buying an additional 147 shares during the last quarter. Autus Asset Management LLC increased its stake in shares of Cerner by 2.3% in the third quarter. Autus Asset Management LLC now owns 96,300 shares of the company’s stock worth $5,946,000 after buying an additional 2,173 shares during the last quarter. Finally, Legacy Capital Partners Inc. increased its stake in shares of Cerner by 4.2% in the third quarter. Legacy Capital Partners Inc. now owns 7,400 shares of the company’s stock worth $457,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 80.58% of the company’s stock.
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Cerner 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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