Fort Washington Investment Advisors Inc. OH cut its holdings in Cerner Corporation (NASDAQ:CERN) by 34.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,500 shares of the company’s stock after selling 8,016 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Cerner Corporation were worth $1,030,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Alps Advisors Inc. lifted its stake in Cerner Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 8,693 shares of the company’s stock worth $578,000 after purchasing an additional 23 shares during the last quarter. Johnson Financial Group Inc. lifted its stake in Cerner Corporation by 2.6% in the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock worth $110,000 after purchasing an additional 47 shares during the last quarter. Conning Inc. lifted its stake in Cerner Corporation by 0.8% in the second quarter. Conning Inc. now owns 7,742 shares of the company’s stock worth $515,000 after purchasing an additional 58 shares during the last quarter. ProVise Management Group LLC lifted its stake in Cerner Corporation by 1.2% in the first quarter. ProVise Management Group LLC now owns 5,115 shares of the company’s stock worth $301,000 after purchasing an additional 60 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Cerner Corporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,842 shares of the company’s stock worth $1,452,000 after purchasing an additional 74 shares during the last quarter. 78.94% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on CERN. Canaccord Genuity reissued a “buy” rating and issued a $69.00 price target on shares of Cerner Corporation in a research note on Wednesday, September 6th. Robert W. Baird reissued a “hold” rating and issued a $67.00 price target on shares of Cerner Corporation in a research note on Thursday, August 31st. BidaskClub raised shares of Cerner Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Morgan Stanley raised shares of Cerner Corporation from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $59.00 to $62.00 in a research note on Thursday, August 10th. Finally, Zacks Investment Research downgraded shares of Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Fifteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.71.
Cerner Corporation (CERN) opened at 71.48 on Friday. Cerner Corporation has a 52 week low of $47.01 and a 52 week high of $72.27. The company has a market capitalization of $23.70 billion, a P/E ratio of 36.12 and a beta of 0.95. The stock’s 50 day moving average is $65.76 and its 200 day moving average is $63.29.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. Cerner Corporation’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Cerner Corporation will post $2.50 earnings per share for the current year.
Cerner Corporation announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 25th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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In related news, SVP Randy D. Sims sold 60,000 shares of Cerner Corporation stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $68.03, for a total transaction of $4,081,800.00. Following the completion of the transaction, the senior vice president now directly owns 60,890 shares of the company’s stock, valued at approximately $4,142,346.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael Nill sold 99,470 shares of Cerner Corporation stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total transaction of $7,007,661.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 371,583 shares of company stock valued at $24,758,191. 13.20% of the stock is owned by corporate 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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