Calamos Advisors LLC decreased its stake in Cerner Corp. (NASDAQ:CERN) by 51.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,087 shares of the company’s stock after selling 73,703 shares during the period. Calamos Advisors LLC’s holdings in Cerner Corp. were worth $4,107,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC increased its position 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 in the last quarter. PGGM Investments acquired a new position in shares of Cerner Corp. during the second quarter valued at approximately $32,321,000. Legal & General Group Plc increased its position in shares of Cerner Corp. by 3.9% in the first quarter. Legal & General Group Plc now owns 1,237,391 shares of the company’s stock valued at $65,533,000 after buying an additional 46,424 shares in the last quarter. Douglas Lane & Associates LLC increased its position in shares of Cerner Corp. by 3.9% in the second quarter. Douglas Lane & Associates LLC now owns 863,834 shares of the company’s stock valued at $50,621,000 after buying an additional 32,542 shares in the last quarter. Finally, Robecosam AG acquired a new position in shares of Cerner Corp. during the first quarter valued at approximately $3,650,000. Institutional investors own 81.39% of the company’s stock.
Cerner Corp. (NASDAQ:CERN) traded up 0.36% during midday trading on Friday, hitting $61.75. The company’s stock had a trading volume of 2,521,432 shares. The stock has a 50 day moving average of $63.73 and a 200 day moving average of $58.83. The company has a market cap of $20.85 billion, a PE ratio of 33.91 and a beta of 0.66. Cerner Corp. has a 52-week low of $49.59 and a 52-week high of $68.31.
Cerner Corp. (NASDAQ:CERN) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. Cerner Corp. had a return on equity of 18.57% and a net margin of 13.53%. The firm earned $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts expect that Cerner Corp. will post $2.36 EPS for the current year.
Several research firms recently weighed in on CERN. Vetr cut Cerner Corp. from a “hold” rating to a “sell” rating and set a $64.78 price target for the company. in a report on Monday, August 8th. Deutsche Bank AG lifted their price target on Cerner Corp. from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, August 15th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Cerner Corp. in a report on Wednesday, August 3rd. Cowen and Company cut Cerner Corp. from an “outperform” rating to a “market perform” rating and set a $65.00 price target for the company. in a report on Thursday, September 8th. Finally, Stifel Nicolaus began coverage on Cerner Corp. in a report on Wednesday, August 31st. They set a “hold” rating for the company. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Cerner Corp. currently has an average rating of “Buy” and a consensus target price of $66.18.
In other news, Vice Chairman Clifford W. Illig sold 325,705 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $65.10, for a total value of $21,203,395.50. Following the completion of the transaction, the insider now directly owns 6,652,392 shares of the company’s stock, valued at $433,070,719.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Linda M. Dillman sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $64.68, for a total value of $388,080.00. The disclosure for this sale can be found here. 13.20% of the stock is owned by insiders.
Cerner Corp. Company Profile
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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