Cerner Corp. (CERN) Position Maintained by Seaward Management Limited Partnership
Seaward Management Limited Partnership held its stake in shares of Cerner Corp. (NASDAQ:CERN) during the second quarter, Holdings Channel reports. The institutional investor owned 62,384 shares of the company’s stock at the end of the second quarter. Seaward Management Limited Partnership’s holdings in Cerner Corp. were worth $3,655,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Loomis Sayles & Co. L P increased its stake in shares of Cerner Corp. by 56.7% in the first quarter. Loomis Sayles & Co. L P now owns 6,953,349 shares of the company’s stock valued at $368,249,000 after buying an additional 2,517,398 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Cerner Corp. by 46.4% in the first quarter. TIAA CREF Investment Management LLC now owns 3,595,434 shares of the company’s stock valued at $190,414,000 after buying an additional 1,140,365 shares during the period. BlackRock Group LTD boosted its position in Cerner Corp. by 4.1% in the first quarter. BlackRock Group LTD now owns 2,625,695 shares of the company’s stock valued at $139,056,000 after buying an additional 102,866 shares during the period. Geode Capital Management LLC boosted its position in Cerner Corp. by 2.1% in the first quarter. Geode Capital Management LLC now owns 2,583,439 shares of the company’s stock valued at $136,554,000 after buying an additional 52,238 shares during the period. Finally, Norges Bank acquired a new position in Cerner Corp. during the fourth quarter valued at approximately $147,077,000. 81.38% of the stock is owned by institutional investors.
Shares of Cerner Corp. (NASDAQ:CERN) traded up 1.02% during trading on Tuesday, reaching $62.11. The company had a trading volume of 1,771,225 shares. The firm has a 50-day moving average of $64.64 and a 200-day moving average of $58.39. The company has a market cap of $20.98 billion, a P/E ratio of 34.11 and a beta of 0.66. Cerner Corp. has a 12-month low of $49.59 and a 12-month high of $68.31.
Cerner Corp. (NASDAQ:CERN) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. Cerner Corp. had a return on equity of 18.57% and a net margin of 13.53%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. On average, equities research analysts anticipate that Cerner Corp. will post $2.36 EPS for the current year.
Several research analysts recently commented on CERN shares. Leerink Swann reiterated an “outperform” rating and issued a $65.00 price target on shares of Cerner Corp. in a research note on Tuesday, May 31st. FBR & Co reiterated an “outperform” rating and issued a $73.00 price target on shares of Cerner Corp. in a research note on Friday, June 3rd. Jefferies Group reiterated a “buy” rating on shares of Cerner Corp. in a research note on Friday, June 10th. SunTrust Banks Inc. upgraded Cerner Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.28 to $65.00 in a research note on Thursday, June 23rd. They noted that the move was a valuation call. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Cerner Corp. in a research note on Sunday, June 26th. Nine equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $66.18.
In related news, EVP Julie M. Wilson sold 46,923 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $67.27, for a total value of $3,156,510.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Clifford W. Illig sold 325,705 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $65.10, for a total transaction of $21,203,395.50. Following the completion of the sale, the insider now owns 6,652,392 shares of the company’s stock, valued at approximately $433,070,719.20. 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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