Clifford W. Illig Sells 250,000 Shares of Cerner Co. (CERN) Stock

Cerner Co. (NASDAQ:CERN) Vice Chairman Clifford W. Illig sold 250,000 shares of the firm’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $57.53, for a total transaction of $14,382,500.00. Following the completion of the sale, the insider now owns 1,229,719 shares in the company, valued at $70,745,734.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

CERN stock traded down $0.72 during trading on Friday, reaching $56.72. The company had a trading volume of 2,346,522 shares, compared to its average volume of 2,474,242. Cerner Co. has a twelve month low of $50.91 and a twelve month high of $73.43. The company has a quick ratio of 2.60, a current ratio of 2.63 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $18.87 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96.

Cerner (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Cerner had a net margin of 15.72% and a return on equity of 14.73%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the firm posted $0.61 EPS. Cerner’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities research analysts expect that Cerner Co. will post 2.22 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc raised its position in Cerner by 5.1% during the 2nd quarter. CIBC Asset Management Inc now owns 44,151 shares of the company’s stock worth $2,640,000 after buying an additional 2,149 shares during the last quarter. Advisors Capital Management LLC raised its position in Cerner by 6.6% during the 3rd quarter. Advisors Capital Management LLC now owns 59,880 shares of the company’s stock worth $3,857,000 after buying an additional 3,696 shares during the last quarter. Zebra Capital Management LLC purchased a new position in Cerner during the 2nd quarter worth approximately $929,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cerner during the 2nd quarter worth approximately $907,000. Finally, Andra AP fonden purchased a new position in Cerner during the 2nd quarter worth approximately $6,398,000. 76.40% of the stock is owned by institutional investors.

CERN has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Cerner from a “sell” rating to a “hold” rating in a report on Friday, July 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 target price on shares of Cerner in a research note on Monday, July 9th. Zacks Investment Research cut shares of Cerner from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. Stifel Nicolaus lifted their target price on shares of Cerner from $62.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 25th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $72.00 target price on shares of Cerner in a research note on Friday, August 3rd. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $69.98.

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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