Great West Life Assurance Co. Can Sells 2,194 Shares of Cerner Corporation (CERN)
Great West Life Assurance Co. Can cut its position in shares of Cerner Corporation (NASDAQ:CERN) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,309 shares of the company’s stock after selling 2,194 shares during the period. Great West Life Assurance Co. Can owned about 0.06% of Cerner Corporation worth $14,032,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in CERN. Johnson Financial Group Inc. raised its stake in 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. Alpha Windward LLC raised its stake in Cerner Corporation by 6.1% in the first quarter. Alpha Windward LLC now owns 2,594 shares of the company’s stock worth $153,000 after buying an additional 148 shares during the period. Archford Capital Strategies LLC raised its stake in Cerner Corporation by 93.8% in the first quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock worth $153,000 after buying an additional 1,258 shares during the period. Fox Run Management L.L.C. bought a new stake in Cerner Corporation during the first quarter worth $200,000. Finally, Brookstone Capital Management bought a new stake in Cerner Corporation during the first quarter worth $201,000. 81.19% of the stock is owned by institutional investors.
Cerner Corporation (CERN) opened at 63.38 on Tuesday. Cerner Corporation has a 12-month low of $47.01 and a 12-month high of $69.28. The firm’s 50 day moving average price is $65.92 and its 200-day moving average price is $60.63. The stock has a market cap of $21.02 billion, a P/E ratio of 32.03 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. Cerner Corporation’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Cerner Corporation will post $2.50 earnings per share for the current fiscal year.
Cerner Corporation announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 25th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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A number of research firms have recently weighed in on CERN. Bank of America Corporation raised Cerner Corporation from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $64.36 to $66.00 in a research note on Monday, May 15th. William Blair reissued an “outperform” rating on shares of Cerner Corporation in a research note on Monday, July 10th. Canaccord Genuity boosted their target price on Cerner Corporation from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, May 1st. BidaskClub lowered Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $69.00 target price on shares of Cerner Corporation in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Cerner Corporation currently has a consensus rating of “Hold” and an average price target of $64.94.
In other news, Director Gerald E. Bisbee, Jr. sold 6,200 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $67.97, for a total transaction of $421,414.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Clifford W. Illig sold 234,525 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $64.43, for a total transaction of $15,110,445.75. Following the sale, the insider now directly owns 1,229,719 shares in the company, valued at $79,230,795.17. The disclosure for this sale can be found here. Insiders sold 408,325 shares of company stock worth $26,802,424 over the last ninety days. Corporate 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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