Cerner Corporation (CERN) Sees Significant Decline in Short Interest
Cerner Corporation (NASDAQ:CERN) saw a large drop in short interest in the month of October. As of October 13th, there was short interest totalling 13,441,506 shares, a drop of 18.0% from the September 29th total of 16,397,144 shares. Approximately 4.6% of the company’s shares are short sold. Based on an average daily trading volume, of 1,654,271 shares, the short-interest ratio is presently 8.1 days.
In related news, COO Michael Nill sold 99,470 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total value of $7,007,661.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Clifford W. Illig sold 118,113 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $62.03, for a total transaction of $7,326,549.39. Following the completion of the transaction, the chairman now directly owns 1,229,719 shares in the company, valued at approximately $76,279,469.57. The disclosure for this sale can be found here. Insiders sold a total of 371,583 shares of company stock worth $24,758,191 in the last ninety days. 13.20% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Cerner Corporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock valued at $1,947,341,000 after purchasing an additional 876,919 shares during the last quarter. BlackRock Inc. increased its stake in Cerner Corporation by 0.8% in the second quarter. BlackRock Inc. now owns 18,436,042 shares of the company’s stock valued at $1,225,441,000 after purchasing an additional 137,320 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Cerner Corporation by 19.0% in the second quarter. Bank of New York Mellon Corp now owns 17,546,618 shares of the company’s stock valued at $1,166,325,000 after purchasing an additional 2,800,955 shares during the last quarter. State Street Corp increased its stake in Cerner Corporation by 1.8% in the first quarter. State Street Corp now owns 12,593,837 shares of the company’s stock valued at $741,147,000 after purchasing an additional 228,570 shares during the last quarter. Finally, FMR LLC increased its stake in Cerner Corporation by 0.8% in the second quarter. FMR LLC now owns 5,652,931 shares of the company’s stock valued at $375,750,000 after purchasing an additional 43,521 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.
Shares of Cerner Corporation (NASDAQ CERN) opened at 71.32 on Friday. The company has a 50-day moving average of $71.12 and a 200-day moving average of $66.24. Cerner Corporation has a 1-year low of $47.01 and a 1-year high of $73.86. The firm has a market capitalization of $23.65 billion, a PE ratio of 36.04 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. Equities research analysts predict that Cerner Corporation will post $2.50 EPS for the current fiscal year.
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About Cerner Corporation
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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