Candriam Luxembourg S.C.A. Sells 74,670 Shares of Cerner Corporation (NASDAQ:CERN)
Candriam Luxembourg S.C.A. reduced its stake in shares of Cerner Corporation (NASDAQ:CERN) by 78.9% during the second quarter, Holdings Channel reports. The fund owned 19,999 shares of the company’s stock after selling 74,670 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Cerner Corporation were worth $1,329,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Johnson Financial Group Inc. boosted 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 valued at $110,000 after buying an additional 47 shares during the last quarter. Alpha Windward LLC boosted its position in shares of Cerner Corporation by 6.1% in the first quarter. Alpha Windward LLC now owns 2,594 shares of the company’s stock valued at $153,000 after buying an additional 148 shares during the last quarter. Archford Capital Strategies LLC boosted its position in shares of Cerner Corporation by 93.8% in the first quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock valued at $153,000 after buying an additional 1,258 shares during the last quarter. Wellington Shields & Co. LLC bought a new position in shares of Cerner Corporation during the second quarter valued at about $213,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Cerner Corporation during the first quarter valued at about $200,000. Institutional investors and hedge funds own 81.19% of the company’s stock.
Cerner Corporation (NASDAQ CERN) opened at 62.11 on Friday. Cerner Corporation has a one year low of $47.01 and a one year high of $69.28. The company’s 50-day moving average price is $65.07 and its 200-day moving average price is $61.07. The firm has a market cap of $20.59 billion, a price-to-earnings ratio of 31.38 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last announced its earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by $0.01. The business 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. On average, analysts anticipate that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 25th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
Several equities analysts have recently issued reports on the company. UBS AG reiterated a “neutral” rating and issued a $69.00 price objective (up previously from $64.00) on shares of Cerner Corporation in a research note on Tuesday, June 6th. Jefferies Group LLC set a $74.00 price objective on Cerner Corporation and gave the company a “buy” rating in a research note on Sunday, April 30th. Morgan Stanley upgraded Cerner Corporation from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $59.00 to $62.00 in a research note on Thursday. BidaskClub cut Cerner Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $69.00 target price on shares of Cerner Corporation in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the stock. Cerner Corporation currently has an average rating of “Hold” and a consensus price target of $65.79.
In other news, Director Linda M. Dillman sold 4,600 shares of Cerner Corporation stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $64.69, for a total transaction of $297,574.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald E. Bisbee, Jr. sold 6,200 shares of Cerner Corporation stock in a transaction on Friday, June 9th. The shares were 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. Over the last quarter, insiders have sold 130,800 shares of company stock worth $8,925,788. 13.20% of the stock is owned by insiders.
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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