Alps Advisors Inc. cut its position in shares of Cerner Corp. (NASDAQ:CERN) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,634 shares of the company’s stock after selling 560 shares during the period. Alps Advisors Inc.’s holdings in Cerner Corp. were worth $447,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Loomis Sayles & Co. L P boosted its stake in shares of Cerner Corp. by 56.7% in the first quarter. Loomis Sayles & Co. L P now owns 6,953,349 shares of the company’s stock valued at $368,249,000 after buying an additional 2,517,398 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Cerner Corp. by 894.2% in the first quarter. Renaissance Technologies LLC now owns 817,604 shares of the company’s stock valued at $43,300,000 after buying an additional 735,365 shares during the last quarter. Scharf Investments LLC boosted its stake in shares of Cerner Corp. by 43.5% in the first quarter. Scharf Investments LLC now owns 2,101,147 shares of the company’s stock valued at $111,277,000 after buying an additional 637,168 shares during the last quarter. PGGM Investments purchased a new stake in shares of Cerner Corp. during the second quarter valued at about $32,321,000. Finally, Alta Capital Management LLC purchased a new stake in shares of Cerner Corp. during the second quarter valued at about $15,696,000. 81.39% of the stock is owned by hedge funds and other institutional investors.
Cerner Corp. (NASDAQ:CERN) traded up 0.54% during trading on Wednesday, reaching $61.25. The company’s stock had a trading volume of 1,483,864 shares. The company has a market cap of $20.68 billion, a P/E ratio of 33.64 and a beta of 0.79. The company’s 50 day moving average price is $63.29 and its 200 day moving average price is $59.06. Cerner Corp. has a 52 week low of $49.59 and a 52 week high of $68.31.
Cerner Corp. (NASDAQ:CERN) last issued its earnings results on Tuesday, August 2nd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The company earned $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Cerner Corp. had a net margin of 13.53% and a return on equity of 18.57%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. On average, equities analysts anticipate that Cerner Corp. will post $2.36 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CERN shares. Jefferies Group reiterated a “buy” rating on shares of Cerner Corp. in a research report on Friday, June 10th. SunTrust Banks Inc. upgraded Cerner Corp. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.28 to $65.00 in a research report on Thursday, June 23rd. They noted that the move was a valuation call. Wells Fargo & Co. reiterated a “buy” rating on shares of Cerner Corp. in a research report on Sunday, June 26th. Raymond James Financial Inc. cut Cerner Corp. from an “outperform” rating to a “market perform” rating and set a $64.57 price target on the stock. in a research report on Tuesday, July 5th. Finally, Vetr cut Cerner Corp. from a “buy” rating to a “hold” rating and set a $64.78 price target on the stock. in a research report on Monday, August 1st. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $66.35.
In other news, Chairman Neal L. Patterson sold 428,638 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $67.14, for a total value of $28,778,755.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Nill sold 50,000 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $67.16, for a total transaction of $3,358,000.00. The disclosure for this sale can be found here. Company insiders own 13.20% of the company’s stock.
About Cerner Corp.
Cerner Corporation 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. Its segments include Domestic and Global. The Domestic segment includes the business activity in the United States.
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