3,478 Shares in Cerner Corporation (NASDAQ:CERN) Acquired by Advisor Partners LLC
Advisor Partners LLC bought a new stake in shares of Cerner Corporation (NASDAQ:CERN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,478 shares of the company’s stock, valued at approximately $231,000.
A number of other hedge funds also recently modified their holdings of the stock. Johnson Financial Group Inc. boosted its position 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 in the last quarter. ProVise Management Group LLC boosted its position in 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 in the last quarter. Linscomb & Williams Inc. boosted its position in 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 in the last quarter. Probity Advisors Inc. boosted its position in 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 in the last quarter. Finally, Warren Averett Asset Management LLC boosted its position in Cerner Corporation by 2.5% in the second quarter. Warren Averett Asset Management LLC now owns 3,673 shares of the company’s stock worth $244,000 after buying an additional 91 shares in the last quarter. Institutional investors own 81.19% of the company’s stock.
Shares of Cerner Corporation (NASDAQ:CERN) opened at 62.11 on Friday. The firm has a market cap of $20.59 billion, a price-to-earnings ratio of 31.38 and a beta of 0.95. The firm has a 50-day moving average price of $65.07 and a 200-day moving average price of $61.07. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $69.28.
Cerner Corporation (NASDAQ:CERN) last issued its 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. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company earned $0.58 EPS. Cerner Corporation’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts predict that Cerner Corporation will post $2.50 EPS for the current fiscal year.
Cerner Corporation announced that its Board of Directors has authorized a stock buyback program on Thursday, May 25th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts have recently weighed in on the company. Morgan Stanley upgraded Cerner Corporation from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $59.00 to $62.00 in a report on Thursday. Zacks Investment Research cut Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub cut Cerner Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and set a $69.00 price target on shares of Cerner Corporation in a report on Friday, July 28th. Finally, William Blair reiterated an “outperform” rating on shares of Cerner Corporation in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company. Cerner Corporation has a consensus rating of “Hold” and a consensus target price of $65.79.
In other news, Director Gerald E. Bisbee, Jr. sold 6,200 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $67.97, for a total value of $421,414.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Linda M. Dillman sold 4,600 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $64.69, for a total value of $297,574.00. The disclosure for this sale can be found here. Insiders sold 130,800 shares of company stock valued at $8,925,788 in the last ninety days. 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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