Cerner Corporation (NASDAQ:CERN) announced strong results for the second-quarter and boosted its full-year net income and revenue forecasts on Thursday, but shares of the corporation plunged in aftermarket trading session.
The health care technology company Cerner, which produces medical software systems, reported that its net income moved up 36% in the Q2, and without special costs, the result beat Wall Street forecasts.
Cerner also boosted its 2012 profit and revenue guidance. But shares of Cerner moved down $7.54 or 9.7% settle at $70.50 in aftermarket trading as investors appeared unimpressed with revenue expansion that was slightly shy of forecasts.
The company reported that its net income in the second-quarter moved up to $97.8 million or 57 cents a share, from $72 million or 43 cents a share. Cerner made 59 cents a share in earnings during its latest quarter without special costs and gains. The company reported that revenue moved up 22% to $637.4 million from $524.2 million.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) rose +1.56% to settle at $9.13, Computer Programs & Systems, Inc (NASDAQ:CPSI) moved up +3.55% to end at $50.53 Streamline Health Solutions Inc (NASDAQ:STRM) decreased -1.35% to finish on Friday at $3.74.
Cerner Corporation (NASDAQ:CERN) on July 27, 2012 decreased -5.55% to the closing price of $73.71. The overall volume in the last trading session was 5.12 million shares. Its fifty two week range was $53.93-$88.32. The total market capitalization remained $12.56 billion.
CERN is ahead its 52 week low with +36.68% and lagging behind from its 52 week high price with -
16.54%. CERN last month stock price volatility remained 2.43%. In its share capital CERN has 170.46 million outstanding shares among them 145.04 million shares have been floated in market exchange. CERN stock institutional ownership remained 81.85% while insider ownership included 7.73%.
The stock price of CERN is moving forward from its 20 days moving average with +0.06% and remote positively from 50 days moving average with +35.55%. CERN current year earnings per share experienced an addition with +26.99% while its current quarter performance remained -4.90%. Company’s beta coefficient included 0.87. Beta factors measures the amount of market risk associated with market trade.
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