Shaker Investments LLC OH Sells 200 Shares of Cerner Corporation (CERN)
Shaker Investments LLC OH decreased its position in Cerner Corporation (NASDAQ:CERN) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 15,093 shares of the company’s stock after selling 200 shares during the period. Shaker Investments LLC OH’s holdings in Cerner Corporation were worth $1,003,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CERN. Johnson Financial Group Inc. increased its position in shares of Cerner Corporation by 2.6% in the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock worth $110,000 after buying an additional 47 shares during the period. ProVise Management Group LLC increased its position in shares of Cerner Corporation by 1.2% in the first quarter. ProVise Management Group LLC now owns 5,115 shares of the company’s stock worth $301,000 after buying an additional 60 shares during the period. Country Club Trust Company n.a. increased its position in shares of Cerner Corporation by 0.4% in the first quarter. Country Club Trust Company n.a. now owns 19,075 shares of the company’s stock worth $1,123,000 after buying an additional 69 shares during the period. Linscomb & Williams Inc. increased its position in shares of Cerner Corporation by 1.2% in the first quarter. Linscomb & Williams Inc. now owns 6,412 shares of the company’s stock worth $377,000 after buying an additional 76 shares during the period. Finally, Probity Advisors Inc. increased its position in shares of Cerner Corporation by 1.5% in the second quarter. Probity Advisors Inc. now owns 5,486 shares of the company’s stock worth $365,000 after buying an additional 79 shares during the period. Hedge funds and other institutional investors own 81.19% of the company’s stock.
Shares of Cerner Corporation (CERN) opened at 63.08 on Monday. The stock has a market cap of $20.92 billion, a PE ratio of 31.87 and a beta of 0.95. The stock’s 50 day moving average price is $65.92 and its 200 day moving average price is $60.63. Cerner Corporation has a 1-year low of $47.01 and a 1-year high of $69.28.
Cerner Corporation (NASDAQ:CERN) last issued its earnings results on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. Cerner Corporation’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS. On average, equities research analysts anticipate that Cerner Corporation will post $2.50 EPS for the current fiscal year.
Cerner Corporation declared that its board has initiated a share buyback plan on Thursday, May 25th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of equities analysts recently issued reports on CERN shares. Zacks Investment Research raised Cerner Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $68.00 price target (up from $66.00) on shares of Cerner Corporation in a report on Thursday, April 27th. UBS AG upped their price target on Cerner Corporation from $60.00 to $64.00 and gave the company a “buy” rating in a report on Friday, April 28th. Leerink Swann set a $65.00 price target on Cerner Corporation and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Barclays PLC reaffirmed a “hold” rating and issued a $60.00 price target on shares of Cerner Corporation in a report on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. Cerner Corporation currently has an average rating of “Hold” and a consensus target price of $64.94.
In related news, Chairman Neal L. Patterson sold 43,000 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $64.33, for a total transaction of $2,766,190.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Clifford W. Illig sold 234,525 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $64.43, for a total value of $15,110,445.75. Following the transaction, the insider now owns 1,229,719 shares of the company’s stock, valued at approximately $79,230,795.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 408,325 shares of company stock valued at $26,802,424. Insiders own 13.20% of the company’s stock.
About Cerner Corporation
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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