Cerner Co. (CERN) Short Interest Up 11.9% in January

Cerner Co. (NASDAQ:CERN) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 10,409,177 shares, an increase of 11.9% from the January 12th total of 9,301,196 shares. Based on an average daily trading volume, of 2,643,781 shares, the days-to-cover ratio is presently 3.9 days. Approximately 3.5% of the shares of the stock are short sold.

In related news, Chairman Clifford W. Illig sold 530,000 shares of Cerner stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $65.54, for a total value of $34,736,200.00. Following the sale, the chairman now directly owns 1,229,719 shares in the company, valued at $80,595,783.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Zane M. Burke sold 50,000 shares of Cerner stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $70.00, for a total value of $3,500,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 784,000 shares of company stock worth $51,926,960. Company insiders own 13.11% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Cerner by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 697,200 shares of the company’s stock worth $46,342,000 after acquiring an additional 47,812 shares during the last quarter. State of Wisconsin Investment Board grew its position in shares of Cerner by 16.8% in the third quarter. State of Wisconsin Investment Board now owns 425,712 shares of the company’s stock valued at $30,362,000 after purchasing an additional 61,326 shares during the period. Harrington Investments INC purchased a new stake in shares of Cerner in the third quarter valued at $1,675,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Cerner by 5.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 45,080 shares of the company’s stock valued at $3,215,000 after purchasing an additional 2,426 shares during the period. Finally, Shell Asset Management Co. grew its position in shares of Cerner by 201.0% in the third quarter. Shell Asset Management Co. now owns 57,749 shares of the company’s stock valued at $3,440,000 after purchasing an additional 38,565 shares during the period. 81.99% of the stock is owned by institutional investors.

Cerner (CERN) traded up $0.09 during midday trading on Friday, hitting $61.31. The stock had a trading volume of 3,788,975 shares, compared to its average volume of 2,524,338. Cerner has a 12 month low of $51.26 and a 12 month high of $73.86. The firm has a market capitalization of $21,101.70, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.75 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 for the quarter, missing the Zacks’ 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 company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the firm earned $0.61 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. analysts forecast that Cerner will post 2.48 EPS for the current fiscal year.

CERN has been the subject of several research reports. Zacks Investment Research cut Cerner from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada reaffirmed a “buy” rating and set a $76.00 price objective on shares of Cerner in a report on Wednesday. Cantor Fitzgerald reduced their price objective on Cerner from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday. Robert W. Baird reduced their price objective on Cerner from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Cerner in a report on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. Cerner has an average rating of “Hold” and a consensus target price of $65.89.

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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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