Regal Investment Advisors LLC decreased its stake in Cerner Corporation (NASDAQ:CERN) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,140 shares of the company’s stock after selling 4,312 shares during the quarter. Regal Investment Advisors LLC’s holdings in Cerner Corporation were worth $2,221,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Advisory Services Network LLC increased its position in Cerner Corporation by 4.4% in the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after buying an additional 70 shares in the last quarter. Acrospire Investment Management LLC grew its position in shares of 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 in the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Cerner Corporation during the second quarter worth about $130,000. Sun Life Financial INC grew its position in shares of Cerner Corporation by 23,700.0% during the second quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock worth $142,000 after purchasing an additional 2,133 shares in the last quarter. Finally, ETF Managers Group LLC purchased a new stake in shares of Cerner Corporation during the second quarter worth about $157,000. Institutional investors and hedge funds own 78.26% of the company’s stock.
Several analysts recently issued reports on the company. SunTrust Banks, Inc. reiterated a “buy” rating and set a $79.00 target price on shares of Cerner Corporation in a research report on Thursday, October 19th. Zacks Investment Research upgraded Cerner Corporation from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Tuesday, October 17th. Royal Bank Of Canada reiterated a “buy” rating on shares of Cerner Corporation in a research report on Wednesday, October 25th. Jefferies Group LLC set a $79.00 target price on Cerner Corporation and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $77.00 target price on shares of Cerner Corporation in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $69.79.
In related news, Chairman Clifford W. Illig sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $65.96, for a total transaction of $263,840.00. Following the completion of the sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at approximately $81,112,265.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael Nill sold 99,470 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total value of $7,007,661.50. The disclosure for this sale can be found here. Insiders sold a total of 257,470 shares of company stock valued at $17,695,482 over the last ninety days. Corporate insiders own 13.20% of the company’s stock.
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Cerner Corporation (NASDAQ:CERN) traded down $0.14 during trading hours on Friday, hitting $65.40. The stock had a trading volume of 1,653,617 shares, compared to its average volume of 2,395,472. The company has a market cap of $21,739.94, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 2.10 and a beta of 0.93. Cerner Corporation has a 1-year low of $47.01 and a 1-year high of $73.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75.
Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.01). The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Cerner Corporation had a net margin of 13.37% and a return on equity of 18.03%. Cerner Corporation’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. analysts expect that Cerner Corporation will post 2.26 earnings per share for the current year.
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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