Cerner (CERN) Shares Gap Up to $58.56

Cerner (NASDAQ:CERN) gapped up prior to trading on Tuesday . The stock had previously closed at $57.72, but opened at $58.56. Cerner shares last traded at $57.67, with a volume of 1115672 shares changing hands.

A number of equities research analysts recently commented on the stock. SunTrust Banks reduced their price objective on shares of Cerner from $68.00 to $2.82 and set a “hold” rating for the company in a research report on Wednesday, February 7th. Cantor Fitzgerald reduced their price objective on shares of Cerner from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, February 7th. Argus downgraded shares of Cerner from a “buy” rating to a “hold” rating and raised their price objective for the company from $54.49 to $64.65 in a research report on Tuesday, March 13th. BidaskClub downgraded shares of Cerner from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 15th. Finally, Evercore ISI initiated coverage on shares of Cerner in a research report on Thursday, January 18th. They issued an “in-line” rating and a $77.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Cerner presently has a consensus rating of “Hold” and an average target price of $67.42.

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The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.99 and a current ratio of 3.01. The company has a market capitalization of $19,316.98, a price-to-earnings ratio of 26.34, a P/E/G ratio of 1.69 and a beta of 0.96.

Cerner (NASDAQ:CERN) last issued its quarterly earnings data 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 business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. analysts anticipate that Cerner will post 2.42 EPS for the current year.

In other news, Vice Chairman Clifford W. Illig sold 307,700 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $64.52, for a total transaction of $19,852,804.00. Following the completion of the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at approximately $79,341,469.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William D. Zollars sold 4,100 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $62.16, for a total transaction of $254,856.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 541,800 shares of company stock valued at $34,353,860. Corporate insiders own 4.71% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CERN. APG Asset Management N.V. grew its stake in shares of Cerner by 153.1% during the 4th quarter. APG Asset Management N.V. now owns 1,121,956 shares of the company’s stock valued at $62,965,000 after buying an additional 678,700 shares during the period. BlackRock Inc. grew its stake in shares of Cerner by 2.2% during the 4th quarter. BlackRock Inc. now owns 19,519,304 shares of the company’s stock valued at $1,315,406,000 after buying an additional 420,942 shares during the period. State of Wisconsin Investment Board grew its stake in shares of Cerner by 68.2% during the 4th quarter. State of Wisconsin Investment Board now owns 716,239 shares of the company’s stock valued at $48,267,000 after buying an additional 290,527 shares during the period. Schroder Investment Management Group grew its stake in shares of Cerner by 123.9% during the 4th quarter. Schroder Investment Management Group now owns 457,638 shares of the company’s stock valued at $30,840,000 after buying an additional 253,200 shares during the period. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Cerner during the 4th quarter valued at $17,036,000. 78.76% of the stock is owned by hedge funds and other institutional investors.

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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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