Royal Bank of Canada Sells 37,157 Shares of Cerner Corporation (CERN)

Royal Bank of Canada reduced its stake in Cerner Corporation (NASDAQ:CERN) by 7.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 470,994 shares of the company’s stock after selling 37,157 shares during the quarter. Royal Bank of Canada owned about 0.14% of Cerner Corporation worth $31,307,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Cerner Corporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock valued at $1,947,341,000 after acquiring an additional 876,919 shares in the last quarter. BlackRock Inc. lifted its position in shares of Cerner Corporation by 0.8% in the second quarter. BlackRock Inc. now owns 18,436,042 shares of the company’s stock valued at $1,225,441,000 after acquiring an additional 137,320 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Cerner Corporation by 19.0% in the second quarter. Bank of New York Mellon Corp now owns 17,546,618 shares of the company’s stock valued at $1,166,325,000 after acquiring an additional 2,800,955 shares in the last quarter. State Street Corp lifted its position in shares of Cerner Corporation by 1.8% in the first quarter. State Street Corp now owns 12,593,837 shares of the company’s stock valued at $741,147,000 after acquiring an additional 228,570 shares in the last quarter. Finally, Fiduciary Management Inc. WI lifted its position in shares of Cerner Corporation by 63.2% in the first quarter. Fiduciary Management Inc. WI now owns 8,241,408 shares of the company’s stock valued at $485,007,000 after acquiring an additional 3,192,338 shares in the last quarter. Institutional investors and hedge funds own 78.94% of the company’s stock.

Several analysts have recently issued reports on CERN shares. KeyCorp restated a “buy” rating and issued a $76.00 price objective on shares of Cerner Corporation in a research report on Friday, September 22nd. Robert W. Baird restated a “hold” rating and issued a $67.00 price objective on shares of Cerner Corporation in a research report on Thursday, August 31st. Zacks Investment Research downgraded Cerner Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Canaccord Genuity restated a “buy” rating and issued a $69.00 price objective on shares of Cerner Corporation in a research report on Wednesday, September 6th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $74.00 price objective on shares of Cerner Corporation in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $67.00.

Shares of Cerner Corporation (CERN) opened at 71.52 on Friday. The firm has a market capitalization of $23.71 billion, a price-to-earnings ratio of 36.14 and a beta of 0.95. The firm’s 50-day moving average price is $68.86 and its 200 day moving average price is $64.92. Cerner Corporation has a 52 week low of $47.01 and a 52 week high of $72.82.

Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. Cerner Corporation’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.58 EPS. On average, analysts anticipate that Cerner Corporation will post $2.50 EPS for the current year.

In related news, COO Michael Nill sold 99,470 shares of Cerner Corporation stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total transaction of $7,007,661.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Clifford W. Illig sold 118,113 shares of Cerner Corporation stock in a transaction on Friday, August 11th. The shares were sold at an average price of $62.03, for a total value of $7,326,549.39. Following the sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at approximately $76,279,469.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 371,583 shares of company stock valued at $24,758,

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Cerner Corporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock valued at $1,947,341,000 after acquiring an additional 876,919 shares in the last quarter. BlackRock Inc. lifted its position in shares of Cerner Corporation by 0.8% in the second quarter. BlackRock Inc. now owns 18,436,042 shares of the company’s stock valued at $1,225,441,000 after acquiring an additional 137,320 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Cerner Corporation by 19.0% in the second quarter. Bank of New York Mellon Corp now owns 17,546,618 shares of the company’s stock valued at $1,166,325,000 after acquiring an additional 2,800,955 shares in the last quarter. State Street Corp lifted its position in shares of Cerner Corporation by 1.8% in the first quarter. State Street Corp now owns 12,593,837 shares of the company’s stock valued at $741,147,000 after acquiring an additional 228,570 shares in the last quarter. Finally, Fiduciary Management Inc. WI lifted its position in shares of Cerner Corporation by 63.2% in the first quarter. Fiduciary Management Inc. WI now owns 8,241,408 shares of the company’s stock valued at $485,007,000 after acquiring an additional 3,192,338 shares in the last quarter. Institutional investors and hedge funds own 78.94% of the company’s stock.

Several analysts have recently issued reports on CERN shares. KeyCorp restated a “buy” rating and issued a $76.00 price objective on shares of Cerner Corporation in a research report on Friday, September 22nd. Robert W. Baird restated a “hold” rating and issued a $67.00 price objective on shares of Cerner Corporation in a research report on Thursday, August 31st. Zacks Investment Research downgraded Cerner Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Canaccord Genuity restated a “buy” rating and issued a $69.00 price objective on shares of Cerner Corporation in a research report on Wednesday, September 6th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $74.00 price objective on shares of Cerner Corporation in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $67.00.

Shares of Cerner Corporation (CERN) opened at 71.52 on Friday. The firm has a market capitalization of $23.71 billion, a price-to-earnings ratio of 36.14 and a beta of 0.95. The firm’s 50-day moving average price is $68.86 and its 200 day moving average price is $64.92. Cerner Corporation has a 52 week low of $47.01 and a 52 week high of $72.82.

Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. Cerner Corporation’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.58 EPS. On average, analysts anticipate that Cerner Corporation will post $2.50 EPS for the current year.

In related news, COO Michael Nill sold 99,470 shares of Cerner Corporation stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total transaction of $7,007,661.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Clifford W. Illig sold 118,113 shares of Cerner Corporation stock in a transaction on Friday, August 11th. The shares were sold at an average price of $62.03, for a total value of $7,326,549.39. Following the sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at approximately $76,279,469.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 371,583 shares of company stock valued at $24,758,191. Insiders own 13.20% of the company’s stock.

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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.

Institutional Ownership by Quarter for Cerner Corporation (NASDAQ:CERN)

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