Capital Fund Management S.A. Has $18.50 Million Position in Cerner Co. (CERN)
Capital Fund Management S.A. increased its holdings in Cerner Co. (NASDAQ:CERN) by 59.6% during the 2nd quarter, Holdings Channel reports. The firm owned 309,409 shares of the company’s stock after purchasing an additional 115,500 shares during the period. Capital Fund Management S.A.’s holdings in Cerner were worth $18,500,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Resources Investment Advisors Inc. grew its stake in shares of Cerner by 25.0% in the first quarter. Resources Investment Advisors Inc. now owns 58,793 shares of the company’s stock worth $3,410,000 after purchasing an additional 11,742 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Cerner by 5.1% in the second quarter. CIBC Asset Management Inc now owns 44,151 shares of the company’s stock worth $2,640,000 after purchasing an additional 2,149 shares during the last quarter. MainStreet Investment Advisors LLC grew its stake in shares of Cerner by 17.4% in the second quarter. MainStreet Investment Advisors LLC now owns 58,075 shares of the company’s stock worth $3,472,000 after purchasing an additional 8,621 shares during the last quarter. Wilkins Investment Counsel Inc. boosted its position in Cerner by 15.5% during the second quarter. Wilkins Investment Counsel Inc. now owns 21,550 shares of the company’s stock valued at $1,288,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Standard Life Aberdeen plc boosted its position in Cerner by 3.6% during the second quarter. Standard Life Aberdeen plc now owns 749,756 shares of the company’s stock valued at $44,832,000 after acquiring an additional 25,762 shares during the last quarter. 76.09% of the stock is currently owned by institutional investors.
CERN has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Cerner from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. BidaskClub cut shares of Cerner from a “hold” rating to a “sell” rating in a research report on Friday, May 25th. KeyCorp upped their price target on shares of Cerner from $71.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, August 3rd. Royal Bank of Canada upped their price target on shares of Cerner from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, May 24th. Finally, ValuEngine raised shares of Cerner from a “sell” rating to a “hold” rating in a research report on Friday, May 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Cerner currently has a consensus rating of “Hold” and a consensus price target of $71.83.
Cerner (NASDAQ:CERN) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Cerner had a net margin of 16.06% and a return on equity of 15.26%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 EPS. sell-side analysts predict that Cerner Co. will post 2.28 EPS for the current year.
In other news, Vice Chairman Clifford W. Illig sold 45,000 shares of the stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $60.63, for a total transaction of $2,728,350.00. Following the transaction, the insider now owns 1,229,719 shares of the company’s stock, valued at approximately $74,557,862.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Zane M. Burke sold 151,818 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $65.44, for a total transaction of $9,934,969.92. Following the transaction, the president now directly owns 37,418 shares in the company, valued at approximately $2,448,633.92. The disclosure for this sale can be found here. Insiders have sold a total of 651,192 shares of company stock worth $42,746,665 in the last three months. Insiders own 4.71% of the company’s stock.
Cerner Corporation provides health care information technology solutions and services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.
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