Cerner Corp. (CERN) Stake Lowered by Tokio Marine Asset Management Co. Ltd.
Tokio Marine Asset Management Co. Ltd. cut its stake in Cerner Corp. (NASDAQ:CERN) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,172 shares of the company’s stock after selling 326 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Cerner Corp. were worth $537,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of CERN. Acrospire Investment Management LLC purchased a new stake in shares of Cerner Corp. during the first quarter valued at approximately $106,000. Alpha Windward LLC raised its stake in Cerner Corp. by 2.2% in the second quarter. Alpha Windward LLC now owns 2,061 shares of the company’s stock valued at $121,000 after buying an additional 44 shares in the last quarter. NN Investment Partners Holdings N.V. raised its stake in 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 valued at $122,000 after buying an additional 300 shares in the last quarter. CWM LLC raised its stake in Cerner Corp. by 1,785.7% in the second quarter. CWM LLC now owns 2,112 shares of the company’s stock valued at $124,000 after buying an additional 2,000 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in Cerner Corp. by 2.7% in the second quarter. Checchi Capital Advisers LLC now owns 2,700 shares of the company’s stock valued at $158,000 after buying an additional 72 shares in the last quarter. 81.39% of the stock is owned by institutional investors.
Shares of Cerner Corp. (NASDAQ:CERN) traded up 0.44% during trading on Friday, reaching $61.13. The company had a trading volume of 1,127,595 shares. Cerner Corp. has a 1-year low of $49.59 and a 1-year high of $68.31. The firm has a market capitalization of $20.64 billion, a PE ratio of 33.57 and a beta of 0.79. The firm has a 50-day moving average of $63.05 and a 200 day moving average of $59.13.
Cerner Corp. (NASDAQ:CERN) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The business earned $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. Cerner Corp. had a net margin of 13.53% and a return on equity of 18.57%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Analysts expect that Cerner Corp. will post $2.36 earnings per share for the current year.
CERN has been the subject of several recent research reports. Jefferies Group reissued a “buy” rating on shares of Cerner Corp. in a report on Friday, June 10th. SunTrust Banks Inc. raised Cerner Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the company from $55.28 to $65.00 in a report on Thursday, June 23rd. They noted that the move was a valuation call. Wells Fargo & Co. reissued a “buy” rating on shares of Cerner Corp. in a report on Sunday, June 26th. Raymond James Financial Inc. downgraded Cerner Corp. from an “outperform” rating to a “market perform” rating and set a $64.57 price objective on the stock. in a research report on Tuesday, July 5th. Finally, Vetr downgraded Cerner Corp. from a “buy” rating to a “hold” rating and set a $64.78 price objective on the stock. in a research report on Monday, August 1st. Nine analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $66.35.
In other Cerner Corp. news, Chairman Neal L. Patterson sold 428,638 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $67.14, for a total value of $28,778,755.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Linda M. Dillman sold 6,000 shares of the business’s 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 disclosure for this sale can be found here. 13.20% of the stock is currently owned by company 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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