AMP Capital Investors Ltd Lowers Holdings in Cerner Co. (CERN)
AMP Capital Investors Ltd decreased its holdings in shares of Cerner Co. (NASDAQ:CERN) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,288 shares of the company’s stock after selling 6,719 shares during the period. AMP Capital Investors Ltd’s holdings in Cerner were worth $6,761,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Baird Financial Group Inc. raised its holdings in Cerner by 11.2% during the third quarter. Baird Financial Group Inc. now owns 27,866 shares of the company’s stock worth $1,785,000 after buying an additional 2,816 shares during the last quarter. Banco Santander S.A. acquired a new position in Cerner during the third quarter worth $1,095,000. Bellevue Group AG raised its holdings in Cerner by 2.2% during the third quarter. Bellevue Group AG now owns 59,146 shares of the company’s stock worth $3,810,000 after buying an additional 1,246 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Cerner by 17.6% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,024 shares of the company’s stock worth $452,000 after buying an additional 1,050 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Cerner by 25.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,194,635 shares of the company’s stock worth $76,944,000 after buying an additional 238,964 shares during the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.
In related news, Vice Chairman Clifford W. Illig sold 435,000 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $57.95, for a total transaction of $25,208,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Clifford W. Illig sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $57.19, for a total transaction of $285,950.00. Following the sale, the insider now owns 1,229,719 shares of the company’s stock, valued at approximately $70,327,629.61. The disclosure for this sale can be found here. Insiders have sold 1,354,678 shares of company stock valued at $82,344,416 in the last 90 days. 4.71% of the stock is currently owned by corporate insiders.
Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Cerner had a return on equity of 14.73% and a net margin of 15.72%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.36 billion. On average, equities research analysts anticipate that Cerner Co. will post 2.22 earnings per share for the current fiscal year.
Several research firms have weighed in on CERN. KeyCorp upped their price objective on shares of Cerner from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, August 20th. BidaskClub downgraded shares of Cerner from a “hold” rating to a “sell” rating in a report on Friday, August 31st. Barclays assumed coverage on shares of Cerner in a report on Thursday, September 13th. They issued an “equal weight” rating and a $70.00 target price for the company. Cantor Fitzgerald reiterated a “buy” rating and issued a $80.00 target price on shares of Cerner in a report on Wednesday, September 12th. Finally, Zacks Investment Research upgraded shares of Cerner from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. Cerner currently has a consensus rating of “Hold” and a consensus price target of $69.86.
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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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