Johnston Asset Management LLC Has $18,402,000 Position in Cerner Corp. (CERN)
Johnston Asset Management LLC decreased its stake in shares of Cerner Corp. (NASDAQ:CERN) by 2.9% during the second quarter, Holdings Channel reports. The institutional investor owned 314,029 shares of the company’s stock after selling 9,250 shares during the period. Johnston Asset Management LLC’s holdings in Cerner Corp. were worth $18,402,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of CERN. Acrospire Investment Management LLC purchased a new stake in Cerner Corp. during the first quarter valued at about $106,000. Alpha Windward LLC increased its position in shares of Cerner Corp. by 2.2% in the second quarter. Alpha Windward LLC now owns 2,061 shares of the company’s stock worth $121,000 after buying an additional 44 shares during the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of Cerner Corp. by 16.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,085 shares of the company’s stock worth $122,000 after buying an additional 300 shares during the last quarter. CWM LLC increased its position in shares of Cerner Corp. by 1,785.7% in the second quarter. CWM LLC now owns 2,112 shares of the company’s stock worth $124,000 after buying an additional 2,000 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its position in shares of Cerner Corp. by 2.7% in the second quarter. Checchi Capital Advisers LLC now owns 2,700 shares of the company’s stock worth $158,000 after buying an additional 72 shares during the last quarter. 81.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cerner Corp. (NASDAQ:CERN) traded down 0.53% on Monday, reaching $61.42. The company’s stock had a trading volume of 1,386,022 shares. Cerner Corp. has a 1-year low of $49.59 and a 1-year high of $68.31. The company’s 50 day moving average is $63.73 and its 200-day moving average is $58.83. The stock has a market cap of $20.74 billion, a PE ratio of 33.73 and a beta of 0.79.
Cerner Corp. (NASDAQ:CERN) last released its earnings results on Tuesday, August 2nd. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The company earned $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Cerner Corp. had a return on equity of 18.57% and a net margin of 13.53%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. On average, equities analysts predict that Cerner Corp. will post $2.36 earnings per share for the current fiscal year.
CERN has been the subject of a number of recent research reports. JPMorgan Chase & Co. restated a “buy” rating on shares of Cerner Corp. in a research note on Wednesday, August 3rd. Deutsche Bank AG lowered their price objective on Cerner Corp. from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Citigroup Inc. upped their price objective on Cerner Corp. from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Wells Fargo & Co. restated a “buy” rating on shares of Cerner Corp. in a research note on Sunday, June 26th. Finally, SunTrust Banks Inc. upgraded Cerner Corp. from a “neutral” rating to a “buy” rating and upped their price objective 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. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Cerner Corp. presently has a consensus rating of “Buy” and an average price target of $66.18.
In related news, Director Linda M. Dillman sold 6,000 shares of Cerner Corp. stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $64.68, for a total transaction of $388,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael R. Battaglioli sold 2,000 shares of Cerner Corp. stock in a transaction on Monday, August 8th. The stock was sold at an average price of $67.34, for a total value of $134,680.00. Following the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at $134,680. The disclosure for this sale can be found here. Corporate 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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