Perpetual Ltd purchased a new position in shares of Cerner Corporation (NASDAQ:CERN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,652 shares of the company’s stock, valued at approximately $4,231,000.
Other hedge funds also recently modified their holdings of the company. ETF Managers Group LLC acquired a new position in Cerner Corporation during the second quarter worth approximately $157,000. Advisory Services Network LLC increased its position in Cerner Corporation by 4.4% during the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after purchasing an additional 70 shares during the last quarter. Acrospire Investment Management LLC increased its position in Cerner Corporation by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after purchasing an additional 900 shares during the last quarter. Johnson Financial Group Inc. increased its position in Cerner Corporation by 2.6% during the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock worth $110,000 after purchasing an additional 47 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new position in Cerner Corporation during the second quarter worth approximately $130,000. 78.94% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. Morgan Stanley raised shares of Cerner Corporation from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $59.00 to $62.00 in a research report on Thursday, August 10th. Zacks Investment Research raised shares of Cerner Corporation from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research report on Tuesday. BidaskClub raised shares of Cerner Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Jefferies Group LLC set a $79.00 price target on shares of Cerner Corporation and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, Royal Bank Of Canada assumed coverage on shares of Cerner Corporation in a research report on Tuesday, September 19th. They issued a “top pick” rating and a $84.00 price objective for the company. Fourteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.53.
Cerner Corporation (NASDAQ CERN) traded down 0.29% on Wednesday, reaching $72.30. 227,974 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $70.00 and a 200 day moving average of $65.53. The stock has a market capitalization of $23.97 billion, a PE ratio of 36.53 and a beta of 0.95. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $73.86.
Cerner Corporation (NASDAQ:CERN) last announced its earnings results on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) 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 company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the firm posted $0.58 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that Cerner Corporation will post $2.50 earnings per share for the current fiscal year.
In related news, Chairman Clifford W. Illig sold 118,113 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $62.03, for a total transaction of $7,326,549.39. Following the transaction, the chairman now owns 1,229,719 shares of the company’s stock, valued at $76,279,469.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael Nill sold 99,470 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total transaction of $7,007,661.50. 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 ninety days. 13.20% of the stock is currently owned by insiders.
Cerner Corporation Company Profile
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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