Candriam Luxembourg S.C.A. Has $1,085,000 Position in Cerner Corp. (CERN)
Candriam Luxembourg S.C.A. increased its position in shares of Cerner Corp. (NASDAQ:CERN) by 94.6% during the second quarter, Holdings Channel reports. The fund owned 18,516 shares of the company’s stock after buying an additional 8,999 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Cerner Corp. were worth $1,085,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Systems of Alabama raised its position in shares of Cerner Corp. by 31.2% in the second quarter. Retirement Systems of Alabama now owns 445,098 shares of the company’s stock worth $26,083,000 after buying an additional 105,885 shares during the last quarter. Conning Inc. raised its position in shares of Cerner Corp. by 3.1% in the second quarter. Conning Inc. now owns 7,354 shares of the company’s stock worth $431,000 after buying an additional 220 shares during the last quarter. PGGM Investments bought a new position in shares of Cerner Corp. during the second quarter worth $32,321,000. Douglas Lane & Associates LLC raised its position in shares of Cerner Corp. by 3.9% in the second quarter. Douglas Lane & Associates LLC now owns 863,834 shares of the company’s stock worth $50,621,000 after buying an additional 32,542 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Cerner Corp. during the second quarter worth $11,344,000. 81.39% of the stock is currently owned by hedge funds and other institutional investors.
Cerner Corp. (NASDAQ:CERN) traded down 0.64% during midday trading on Thursday, hitting $60.86. 959,104 shares of the stock were exchanged. Cerner Corp. has a 1-year low of $49.59 and a 1-year high of $68.31. The company has a market capitalization of $20.55 billion, a P/E ratio of 33.42 and a beta of 0.79. The company’s 50 day moving average is $63.16 and its 200 day moving average is $59.07.
Cerner Corp. (NASDAQ:CERN) last released its earnings results on Tuesday, August 2nd. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $1.22 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. Analysts predict that Cerner Corp. will post $2.36 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on CERN. Zacks Investment Research upgraded shares of Cerner Corp. from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Tuesday. Bank of America Corp. initiated coverage on shares of Cerner Corp. in a research report on Monday, September 19th. They issued a “neutral” rating and a $67.00 price objective on the stock. Canaccord Genuity reissued a “buy” rating and issued a $68.00 price objective on shares of Cerner Corp. in a research report on Sunday, September 11th. Cowen and Company lowered shares of Cerner Corp. from an “outperform” rating to a “market perform” rating and set a $65.00 price objective on the stock. in a research report on Thursday, September 8th. Finally, Stifel Nicolaus initiated coverage on shares of Cerner Corp. in a research report on Wednesday, August 31st. They issued a “hold” rating on the stock. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Cerner Corp. currently has an average rating of “Buy” and a consensus target price of $66.35.
In related news, Director Linda M. Dillman sold 6,000 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $64.68, for a total value of $388,080.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael R. Battaglioli sold 2,000 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $67.34, for a total value of $134,680.00. Following the completion of the sale, the vice president now owns 2,000 shares in the company, valued at $134,680. The disclosure for this sale can be found here. 13.20% of the stock is owned by corporate 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.
Want to see what other hedge funds are holding CERN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cerner Corp. (NASDAQ:CERN).
Receive News & Ratings for Cerner Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerner Corp. and related companies with MarketBeat.com's FREE daily email newsletter.