Cerner Corporation (CERN) COO Sells $7,007,661.50 in Stock

Cerner Corporation (NASDAQ:CERN) COO Michael Nill sold 99,470 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total value of $7,007,661.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of Cerner Corporation (NASDAQ:CERN) traded down 0.64% during trading on Friday, reaching $71.48. The company’s stock had a trading volume of 6,083,154 shares. The company’s 50-day moving average is $65.53 and its 200-day moving average is $63.18. The company has a market capitalization of $23.70 billion, a P/E ratio of 36.12 and a beta of 0.95. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $72.27.

Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01). Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the firm earned $0.58 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts forecast that Cerner Corporation will post $2.50 EPS for the current fiscal year.

Cerner Corporation declared that its board has authorized a stock repurchase program on Thursday, May 25th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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Hedge funds have recently bought and sold shares of the stock. ETF Managers Group LLC bought a new position in Cerner Corporation in the 2nd quarter worth approximately $157,000. Advisory Services Network LLC raised its position in Cerner Corporation by 4.4% in the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after purchasing an additional 70 shares during the last quarter. Acrospire Investment Management LLC raised its position in Cerner Corporation by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after purchasing an additional 900 shares during the last quarter. Johnson Financial Group Inc. raised its position in Cerner Corporation by 2.6% in the 1st quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock worth $110,000 after purchasing an additional 47 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new position in Cerner Corporation in the 2nd quarter worth approximately $130,000. Hedge funds and other institutional investors own 78.94% of the company’s stock.

A number of analysts have recently weighed in on CERN shares. Jefferies Group LLC reiterated a “buy” rating and set a $74.00 price target on shares of Cerner Corporation in a research report on Thursday, June 1st. Canaccord Genuity reiterated a “buy” rating and set a $66.00 price target on shares of Cerner Corporation in a research report on Friday, June 2nd. Cantor Fitzgerald reiterated a “buy” rating and set a $77.00 price target (up from $68.00) on shares of Cerner Corporation in a research report on Monday, June 5th. UBS AG reiterated a “neutral” rating and set a $69.00 price target (up from $64.00) on shares of Cerner Corporation in a research report on Tuesday, June 6th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $72.00 price target (up from $65.00) on shares of Cerner Corporation in a research report on Tuesday, June 6th. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $65.71.

Cerner Corporation 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.

Insider Buying and Selling by Quarter for Cerner Corporation (NASDAQ:CERN)

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