So despite the denials, Cerner’s stock had another dreadful day. Following a fall on Wednesday, Thursday it was down another $10 on concerns that they’re cooking the books. Now Neal Patterson may be a rough around the edges guy, but he’s no dummy and he knows about Sarbanes-Oxley.
On the other hand, it’s not a bad time to be taking profits and people have sat around not believing it before, and then Enron and Worldcom happened. So a little bit of panic selling/locking in profits is a logical explanation.
Still, I at least am looking forward to seeing whether the clear gain in market penetration that Cerner is seeing is really not being translated into more cash flow, revenue and profits.