Cerner Co. (CERN) Shares Bought by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. boosted its stake in Cerner Co. (NASDAQ:CERN) by 76.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,950 shares of the company’s stock after buying an additional 6,500 shares during the period. Daiwa Securities Group Inc.’s holdings in Cerner were worth $994,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of CERN. Johnson Financial Group Inc. raised its stake in shares of Cerner 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 during the period. ProVise Management Group LLC raised its stake in shares of Cerner by 1.2% in the first quarter. ProVise Management Group LLC now owns 5,115 shares of the company’s stock valued at $301,000 after buying an additional 60 shares during the period. Linscomb & Williams Inc. raised its stake in shares of Cerner by 1.2% in the first quarter. Linscomb & Williams Inc. now owns 6,412 shares of the company’s stock valued at $377,000 after buying an additional 76 shares during the period. Probity Advisors Inc. raised its stake in shares of Cerner by 1.5% in the second quarter. Probity Advisors Inc. now owns 5,486 shares of the company’s stock valued at $365,000 after buying an additional 79 shares during the period. Finally, Warren Averett Asset Management LLC raised its stake in shares of Cerner by 2.5% in the second quarter. Warren Averett Asset Management LLC now owns 3,673 shares of the company’s stock valued at $244,000 after buying an additional 91 shares during the period. 81.19% of the stock is owned by hedge funds and other institutional investors.
Cerner Co. (NASDAQ CERN) opened at 61.60 on Friday. Cerner Co. has a one year low of $47.01 and a one year high of $69.28. The stock has a market cap of $20.43 billion, a P/E ratio of 31.13 and a beta of 0.95. The company’s 50-day moving average price is $65.22 and its 200-day moving average price is $60.99.
Cerner (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. Cerner had a return on equity of 17.02% and a net margin of 13.91%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.58 EPS. Analysts forecast that Cerner Co. will post $2.50 EPS for the current fiscal year.
Cerner declared that its board has authorized a stock buyback program on Thursday, May 25th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
Several equities research analysts have issued reports on the company. UBS Group AG reaffirmed a “neutral” rating and set a $69.00 price target (up previously from $64.00) on shares of Cerner in a research note on Tuesday, June 6th. Jefferies Group LLC set a $74.00 price objective on Cerner and gave the stock a “buy” rating in a report on Sunday, April 30th. Bank of America Corporation upgraded Cerner from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $64.36 to $66.00 in a report on Monday, May 15th. Morgan Stanley upgraded Cerner from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $59.00 to $62.00 in a report on Thursday. Finally, Barclays PLC reiterated a “hold” rating and issued a $60.00 price objective on shares of Cerner in a report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company. Cerner presently has an average rating of “Hold” and a consensus price target of $65.79.
In other Cerner news, Director Linda M. Dillman sold 4,600 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $64.69, for a total transaction of $297,574.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gerald E. Bisbee, Jr. sold 6,200 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $67.97, for a total value of $421,414.00. The disclosure for this sale can be found here. Insiders have sold a total of 130,800 shares of company stock worth $8,925,788 in the last ninety days. Insiders own 13.20% of the company’s stock.
Cerner 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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