Cerner Sees Unusually High Options Volume (CERN)

Cerner Co. (NASDAQ:CERN) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 5,409 put options on the company. This represents an increase of approximately 2,293% compared to the average daily volume of 226 put options.

Shares of Cerner (CERN) opened at $61.22 on Friday. The company has a quick ratio of 2.75, a current ratio of 2.77 and a debt-to-equity ratio of 0.11. The company has a market cap of $20,350.00, a price-to-earnings ratio of 23.82, a PEG ratio of 1.88 and a beta of 0.90. Cerner has a 1 year low of $51.26 and a 1 year high of $73.86.

Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.03). The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.33 billion. Cerner had a return on equity of 17.25% and a net margin of 16.86%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 EPS. research analysts forecast that Cerner will post 2.48 EPS for the current year.

Several research firms have recently weighed in on CERN. SunTrust Banks cut shares of Cerner from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Cerner from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Royal Bank of Canada reiterated a “buy” rating on shares of Cerner in a report on Wednesday, October 25th. Jefferies Group set a $79.00 price target on shares of Cerner and gave the company a “buy” rating in a report on Friday, October 13th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $77.00 price target on shares of Cerner in a report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $65.89.

In other news, VP Michael R. Battaglioli sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $69.89, for a total value of $279,560.00. Following the completion of the transaction, the vice president now owns 4,000 shares in the company, valued at $279,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Clifford W. Illig sold 140,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $65.52, for a total transaction of $9,172,800.00. Following the completion of the transaction, the chief executive officer now owns 1,229,719 shares of the company’s stock, valued at approximately $80,571,188.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 784,000 shares of company stock valued at $51,926,960. Corporate insiders own 13.11% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC lifted its position in shares of Cerner by 4.4% in the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after purchasing an additional 70 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Cerner during the third quarter worth $121,000. Cerebellum GP LLC bought a new stake in Cerner during the fourth quarter worth $127,000. Steward Partners Investment Advisory LLC bought a new stake in Cerner during the third quarter worth $128,000. Finally, Fort Pitt Capital Group LLC bought a new stake in Cerner during the third quarter worth $205,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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About Cerner

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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