Norinchukin Bank The increased its holdings in Cerner Corporation (NASDAQ:CERN) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,401 shares of the company’s stock after acquiring an additional 1,332 shares during the quarter. Norinchukin Bank The’s holdings in Cerner Corporation were worth $1,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of CERN. Johnson Financial Group Inc. increased its stake in shares of Cerner Corporation by 2.6% in the 1st quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock worth $110,000 after acquiring an additional 47 shares in the last quarter. Pacad Investment Ltd. bought a new position in shares of Cerner Corporation in the 2nd quarter worth about $130,000. Archford Capital Strategies LLC increased its stake in shares of Cerner Corporation by 93.8% in the 1st quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock worth $153,000 after acquiring an additional 1,258 shares in the last quarter. National Asset Management Inc. bought a new position in shares of Cerner Corporation in the 1st quarter worth about $201,000. Finally, Raymond James Trust N.A. bought a new position in shares of Cerner Corporation in the 2nd quarter worth about $203,000. Institutional investors own 78.94% of the company’s stock.
Several brokerages recently issued reports on CERN. Canaccord Genuity reiterated a “buy” rating and issued a $69.00 price target on shares of Cerner Corporation in a research note on Wednesday, September 6th. Robert W. Baird reiterated a “hold” rating and issued a $67.00 price target on shares of Cerner Corporation in a research note on Thursday, August 31st. BidaskClub upgraded shares of Cerner Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Morgan Stanley upgraded shares of Cerner Corporation from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $59.00 to $62.00 in a research note on Thursday, August 10th. Finally, Zacks Investment Research lowered shares of Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Fifteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Cerner Corporation presently has a consensus rating of “Hold” and a consensus price target of $65.71.
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In other news, COO Michael Nill sold 99,470 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total transaction of $7,007,661.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Clifford W. Illig sold 118,113 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $62.03, for a total value of $7,326,549.39. Following the sale, the chairman now owns 1,229,719 shares in the company, valued at approximately $76,279,469.57. The disclosure for this sale can be found here. Insiders have sold 371,583 shares of company stock worth $24,758,191 in the last 90 days. Insiders own 13.20% of the company’s stock.
Shares of Cerner Corporation (NASDAQ CERN) opened at 71.48 on Friday. Cerner Corporation has a one year low of $47.01 and a one year high of $72.27. The stock has a market cap of $23.70 billion, a P/E ratio of 36.12 and a beta of 0.95. The stock’s 50 day moving average is $65.76 and its 200-day moving average is $63.29.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.01). Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. Cerner Corporation’s revenue was up 6.3% on a year-over-year basis. On average, equities analysts forecast that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation announced that its Board of Directors has authorized a share buyback program on Thursday, May 25th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
About Cerner Corporation
Cerner Corporation (Cerner) 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 of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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