Ameriprise Financial Inc. Sells 155,323 Shares of Cerner Corporation (CERN)
Ameriprise Financial Inc. decreased its position in Cerner Corporation (NASDAQ:CERN) by 11.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,176,439 shares of the company’s stock after selling 155,323 shares during the quarter. Ameriprise Financial Inc. owned 0.35% of Cerner Corporation worth $78,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in CERN. Teachers Advisors LLC increased its stake in Cerner Corporation by 13.8% in the 2nd quarter. Teachers Advisors LLC now owns 1,449,352 shares of the company’s stock worth $96,338,000 after purchasing an additional 175,949 shares during the period. Raymond James Trust N.A. purchased a new position in Cerner Corporation in the 2nd quarter worth approximately $203,000. Stephens Investment Management Group LLC increased its stake in Cerner Corporation by 0.3% in the 2nd quarter. Stephens Investment Management Group LLC now owns 479,008 shares of the company’s stock worth $31,840,000 after purchasing an additional 1,556 shares during the period. Regal Investment Advisors LLC purchased a new position in Cerner Corporation in the 2nd quarter worth approximately $2,356,000. Finally, Alliancebernstein L.P. increased its stake in Cerner Corporation by 8.2% in the 2nd quarter. Alliancebernstein L.P. now owns 3,050,854 shares of the company’s stock worth $202,790,000 after purchasing an additional 230,062 shares during the period. Institutional investors own 78.92% of the company’s stock.
A number of brokerages have commented on CERN. Royal Bank Of Canada began coverage on Cerner Corporation in a research note on Tuesday. They issued a “top pick” rating and a $84.00 price target on the stock. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $72.00 price target (up from $65.00) on shares of Cerner Corporation in a research note on Tuesday, June 6th. UBS AG reaffirmed a “neutral” rating and issued a $69.00 price target (up from $64.00) on shares of Cerner Corporation in a research note on Tuesday, June 6th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $77.00 price target (up from $68.00) on shares of Cerner Corporation in a research note on Monday, June 5th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $67.00 price target on shares of Cerner Corporation in a research note on Thursday, August 31st. Fifteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $66.72.
Shares of Cerner Corporation (CERN) opened at 69.30 on Tuesday. Cerner Corporation has a 12-month low of $47.01 and a 12-month high of $72.27. The firm has a 50-day moving average price of $65.89 and a 200 day moving average price of $63.51. The company has a market capitalization of $22.98 billion, a P/E ratio of 35.02 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. On average, equities research analysts predict that Cerner Corporation will post $2.50 earnings per share for the current year.
Cerner Corporation declared that its Board of Directors has initiated a share buyback plan on Thursday, May 25th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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In other news, Chairman Clifford W. Illig sold 118,113 shares of Cerner Corporation stock in a transaction on Friday, August 11th. The stock was sold at an average price of $62.03, for a total value of $7,326,549.39. Following the transaction, the chairman now directly owns 1,229,719 shares in the company, valued at approximately $76,279,469.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Randy D. Sims sold 60,000 shares of Cerner Corporation stock in a transaction on Friday, September 1st. The shares were sold at an average price of $68.03, for a total value of $4,081,800.00. Following the completion of the transaction, the senior vice president now owns 60,890 shares in the company, valued at $4,142,346.70. The disclosure for this sale can be found here. Insiders have sold a total of 371,583 shares of company stock worth $24,758,191 over the last 90 days. 13.20% of the stock is currently owned by company 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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