Cerner Co. (CERN) Shares Bought by BB&T Securities LLC
BB&T Securities LLC raised its stake in Cerner Co. (NASDAQ:CERN) by 8.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,929 shares of the company’s stock after buying an additional 14,687 shares during the period. BB&T Securities LLC owned 0.06% of Cerner worth $13,545,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in CERN. Alps Advisors Inc. increased its stake in Cerner by 0.3% in the second quarter. Alps Advisors Inc. now owns 8,693 shares of the company’s stock valued at $578,000 after purchasing an additional 23 shares in the last quarter. Laurel Wealth Advisors Inc. boosted its stake in Cerner by 0.6% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,909 shares of the company’s stock valued at $259,000 after acquiring an additional 24 shares during the last quarter. Conning Inc. increased its holdings in Cerner by 0.8% during the 2nd quarter. Conning Inc. now owns 7,742 shares of the company’s stock worth $515,000 after acquiring an additional 58 shares during the period. ProVise Management Group LLC increased its holdings in Cerner by 1.3% during the 2nd quarter. ProVise Management Group LLC now owns 5,184 shares of the company’s stock worth $345,000 after acquiring an additional 69 shares during the period. Finally, Advisory Services Network LLC grew its stake in Cerner by 4.4% in the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after buying an additional 70 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.
Shares of Cerner Co. (NASDAQ:CERN) opened at $70.69 on Friday. The firm has a market capitalization of $23,500.00, a P/E ratio of 30.86, a P/E/G ratio of 2.25 and a beta of 0.93. Cerner Co. has a 52 week low of $47.01 and a 52 week high of $73.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.75 and a current ratio of 2.77.
Cerner (NASDAQ:CERN) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Cerner had a return on equity of 18.03% and a net margin of 13.37%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. analysts forecast that Cerner Co. will post 2.25 EPS for the current year.
CERN has been the subject of several research reports. Morgan Stanley upgraded shares of Cerner from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $59.00 to $62.00 in a report on Thursday, August 10th. BidaskClub raised shares of Cerner from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Robert W. Baird reissued a “hold” rating and set a $67.00 target price on shares of Cerner in a research note on Thursday, August 31st. Canaccord Genuity reissued a “buy” rating and set a $69.00 target price on shares of Cerner in a research note on Wednesday, September 6th. Finally, Royal Bank Of Canada started coverage on shares of Cerner in a research note on Tuesday, September 19th. They issued a “top pick” rating and a $84.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $69.50.
In other news, Chairman Clifford W. Illig sold 4,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $65.96, for a total transaction of $263,840.00. Following the completion of the transaction, the chairman now directly owns 1,229,719 shares in the company, valued at approximately $81,112,265.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Clifford W. Illig sold 530,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $65.54, for a total transaction of $34,736,200.00. Following the completion of the sale, the chairman now directly owns 1,229,719 shares in the company, valued at $80,595,783.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 867,470 shares of company stock valued at $57,522,682. Corporate insiders own 13.11% of the company’s stock.
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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