Prentiss Smith & Co. Inc. boosted its stake in Cerner Corp. (NASDAQ:CERN) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 133,831 shares of the company’s stock after buying an additional 3,048 shares during the period. Cerner Corp. accounts for approximately 4.4% of Prentiss Smith & Co. Inc.’s investment portfolio, making the stock its 7th largest position. Prentiss Smith & Co. Inc.’s holdings in Cerner Corp. were worth $7,842,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Glenmede Trust Co. NA boosted its stake in shares of Cerner Corp. by 81.5% in the first quarter. Glenmede Trust Co. NA now owns 7,228 shares of the company’s stock valued at $382,000 after buying an additional 3,245 shares in the last quarter. CIBC World Markets Inc. boosted its stake in shares of Cerner Corp. by 52.3% in the first quarter. CIBC World Markets Inc. now owns 10,000 shares of the company’s stock worth $530,000 after buying an additional 3,434 shares during the period. FDO Partners LLC bought a new stake in shares of Cerner Corp. during the first quarter worth $802,000. BlackRock Group LTD boosted its stake in shares of Cerner Corp. by 4.1% in the first quarter. BlackRock Group LTD now owns 2,625,695 shares of the company’s stock worth $139,056,000 after buying an additional 102,866 shares during the period. Finally, Peapack Gladstone Financial Corp boosted its stake in shares of Cerner Corp. by 1.2% in the first quarter. Peapack Gladstone Financial Corp now owns 60,402 shares of the company’s stock worth $3,199,000 after buying an additional 735 shares during the period. Institutional investors and hedge funds own 81.39% of the company’s stock.
Cerner Corp. (NASDAQ:CERN) traded down 0.81% during midday trading on Tuesday, reaching $60.92. The company’s stock had a trading volume of 1,105,710 shares. Cerner Corp. has a 52 week low of $49.59 and a 52 week high of $68.31. The firm’s 50-day moving average price is $63.59 and its 200-day moving average price is $58.99. The stock has a market capitalization of $20.57 billion, a PE ratio of 33.45 and a beta of 0.79.
Cerner Corp. (NASDAQ:CERN) last released its earnings results on Tuesday, August 2nd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts anticipate that Cerner Corp. will post $2.36 earnings per share for the current year.
A number of equities research analysts recently weighed in on the company. Vetr cut Cerner Corp. from a “hold” rating to a “sell” rating and set a $64.78 price objective for the company. in a research note on Monday, August 8th. Deutsche Bank AG upped their price objective on Cerner Corp. from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. JPMorgan Chase & Co. restated a “buy” rating on shares of Cerner Corp. in a research note 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 objective for the company. in a research note on Thursday, September 8th. Finally, Stifel Nicolaus assumed coverage on Cerner Corp. in a research note on Wednesday, August 31st. They set a “hold” rating for the company. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $66.35.
In related news, COO Michael Nill sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $67.16, for a total value of $3,358,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael R. Battaglioli sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $67.34, for a total value of $134,680.00. Following the completion of the sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $134,680. The disclosure for this sale can be found here. Company insiders own 13.20% of the company’s stock.
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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