The stock of Cerner Corporation (NASDAQ:CERN) hit a new 52-week low and has $45.98 target or 9.00% below today’s $50.53 share price. The 9 months bearish chart indicates high risk for the $17.15 billion company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $45.98 price target is reached, the company will be worth $1.54 billion less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 4.65M shares traded hands or 100.43% up from the average. Cerner Corporation (NASDAQ:CERN) has declined 5.95% since April 7, 2016 and is downtrending. It has underperformed by 10.73% the S&P500.
Cerner Corporation (NASDAQ:CERN) Ratings Coverage
Out of 17 analysts covering Cerner Corporation (NASDAQ:CERN), 12 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 71% are positive. Cerner Corporation has been the topic of 36 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Wednesday, November 2 by Deutsche Bank. The stock of Cerner Corporation (NASDAQ:CERN) has “Sell” rating given on Wednesday, August 5 by Stifel Nicolaus. The company was initiated on Wednesday, September 16 by Canaccord Genuity. The stock has “Buy” rating given by Bank of America on Monday, September 19. Topeka Capital Markets upgraded the stock to “Buy” rating in Tuesday, September 8 report. The firm has “Sector Perform” rating given on Wednesday, August 5 by RBC Capital Markets. The stock of Cerner Corporation (NASDAQ:CERN) earned “Buy” rating by Suntrust Robinson on Thursday, June 23. On Monday, November 7 the stock rating was downgraded by Bank of America to “Underperform”. On Monday, August 24 the stock rating was maintained by Piper Jaffray with “Overweight”. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, December 2 report.
According to Zacks Investment Research, “Cerner Corp. designs, develops, markets, installs and supports information technology and content solutions for healthcare organizations and consumers that are capable of being implemented on an individual, combined or enterprise-wide basis and are accessible over the internet by consumers, physicians and healthcare providers. Cerner’s integrated suite of solutions enable healthcare providers to improve operating effectiveness, reduce costs and improve the quality of care as measured by clinical outcomes.”
Insitutional Activity: The institutional sentiment increased to 1.19 in 2016 Q2. Its up 0.02, from 1.17 in 2016Q1. The ratio increased, as 55 funds sold all Cerner Corporation shares owned while 203 reduced positions. 71 funds bought stakes while 236 increased positions. They now own 261.84 million shares or 1.43% less from 265.64 million shares in 2016Q1.
Sunbelt Secs last reported 3,600 shares in the company. Davis holds 46,117 shares or 1.92% of its portfolio. Professional Advisory Service Inc last reported 222,335 shares in the company. Cibc World Markets holds 0% of its portfolio in Cerner Corporation (NASDAQ:CERN) for 13,841 shares. Kj Harrison has 32,300 shares for 1.01% of their US portfolio. Gam Holding Ag last reported 0.19% of its portfolio in the stock. Gradient Limited Liability Company has 316 shares for 0% of their US portfolio. Mitchell Cap Mgmt last reported 162,121 shares in the company. Commonwealth National Bank Of Australia has 5,673 shares for 0% of their US portfolio. Yhb Advsr last reported 0.17% of its portfolio in the stock. The New York-based Group Inc has invested 0% in Cerner Corporation (NASDAQ:CERN). Caisse De Depot Et Placement Du Quebec last reported 0% of its portfolio in the stock. Brown Capital Management Limited Liability Corp owns 117,661 shares or 0.11% of their US portfolio. Janney Montgomery Scott Ltd Com holds 0.05% of its portfolio in Cerner Corporation (NASDAQ:CERN) for 49,781 shares. Louisiana State Employees Retirement Systems owns 19,700 shares or 0.06% of their US portfolio.
Insider Transactions: Since May 12, 2016, the stock had 0 buys, and 11 sales for $74.15 million net activity. 46,923 shares were sold by WILSON JULIE M, worth $3.16M. Nill Michael had sold 50,000 shares worth $3.36 million. On Wednesday, August 10 the insider BURKE ZANE M sold $9.97 million. ILLIG CLIFFORD W sold 325,705 shares worth $21.20 million. Shares for $28.78 million were sold by PATTERSON NEAL L on Friday, August 5. NAUGHTON MARC G sold $5.94M worth of Cerner Corporation (NASDAQ:CERN) on Friday, August 5. Battaglioli Michael R. sold $134,680 worth of Cerner Corporation (NASDAQ:CERN) on Monday, August 8.
Another recent and important Cerner Corporation (NASDAQ:CERN) news was published by Fool.com which published an article titled: “Cerner Corporation Disappoints in Q3 With Weak System Sales” on November 02, 2016.
CERN Company Profile
Cerner Corporation (Cerner) incorporated on October 6, 1986, is a supplier of healthcare information technology (HCIT). The Firm offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations. The Company’s divisions include Domestic and Global. The Domestic segment includes the business activity in the United States. The Global segment includes the business activity in Aruba, Australia, Austria, Belgium, Brazil, Canada, Cayman Islands, Chile, Denmark, Egypt, England, Finland, France, Germany, Guam, India, Ireland, Luxembourg, Malaysia, Mexico, Netherlands, Norway, Portugal, Qatar, Romania, Saudi Arabia, Singapore, Slovakia, Spain, Sweden, Switzerland and the United Arab Emirates. The Firm offers software, hardware, professional and managed services. The Firm has systems in over 20,000 facilities across the world, including hospitals, physician practices, laboratories, ambulatory centers, behavioral health centers, cardiac facilities, radiology clinics, surgery centers, extended care facilities, retail pharmacies and employer sites.
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