Seaward Management Limited Partnership Maintains Position in Cerner Corporation (NASDAQ:CERN)
Seaward Management Limited Partnership continued to hold its stake in Cerner Corporation (NASDAQ:CERN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,064 shares of the company’s stock at the end of the second quarter. Seaward Management Limited Partnership’s holdings in Cerner Corporation were worth $3,793,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the company. Johnson Financial Group Inc. increased 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 valued at $110,000 after buying an additional 47 shares in the last quarter. Alpha Windward LLC boosted its position 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 last quarter. Archford Capital Strategies LLC boosted its position 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 last quarter. Fox Run Management L.L.C. purchased a new position in Cerner Corporation during the first quarter worth approximately $200,000. Finally, Brookstone Capital Management purchased a new position in Cerner Corporation during the first quarter worth approximately $201,000. Institutional investors own 81.19% of the company’s stock.
Cerner Corporation (NASDAQ CERN) opened at 63.38 on Tuesday. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $69.28. The stock’s 50 day moving average is $65.92 and its 200 day moving average is $60.63. The company has a market cap of $21.02 billion, a price-to-earnings ratio of 32.03 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.30 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 earnings per share. On average, analysts predict that Cerner Corporation will post $2.50 earnings per share for the current fiscal year.
Cerner Corporation declared that its Board of Directors 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 repurchase up to 2.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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A number of research firms have recently commented on CERN. UBS AG reissued a “neutral” rating and set a $69.00 target price (up from $64.00) on shares of Cerner Corporation in a research report on Tuesday, June 6th. Stifel Nicolaus reissued a “hold” rating and set a $69.00 target price on shares of Cerner Corporation in a research report on Friday, July 28th. Jefferies Group LLC set a $74.00 target price on shares of Cerner Corporation and gave the stock a “buy” rating in a research report on Sunday, April 30th. Zacks Investment Research cut shares of Cerner Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, BidaskClub cut shares of Cerner Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the stock. Cerner Corporation currently has an average rating of “Hold” and an average price target of $64.94.
In other Cerner Corporation news, Chairman Neal L. Patterson sold 43,000 shares of Cerner Corporation stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marc G. Naughton sold 60,000 shares of Cerner Corporation stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $68.63, for a total value of $4,117,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 408,325 shares of company stock valued at $26,802,424. Company insiders own 13.20% of the company’s stock.
Cerner Corporation Company Profile
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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