Bessemer Group Inc. lowered its stake in shares of Cerner Corporation (NASDAQ:CERN) by 34.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,884 shares of the company’s stock after selling 5,663 shares during the period. Bessemer Group Inc.’s holdings in Cerner Corporation were worth $724,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in CERN. Johnson Financial Group Inc. increased its stake in shares of Cerner Corporation by 2.6% in the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock valued at $110,000 after buying an additional 47 shares during the period. ProVise Management Group LLC increased its stake in shares of Cerner Corporation by 1.2% in the first quarter. ProVise Management Group LLC now owns 5,115 shares of the company’s stock valued at $301,000 after buying an additional 60 shares during the period. Linscomb & Williams Inc. increased its stake in shares of Cerner Corporation by 1.2% in the first quarter. Linscomb & Williams Inc. now owns 6,412 shares of the company’s stock valued at $377,000 after buying an additional 76 shares during the period. Probity Advisors Inc. increased its stake in shares of Cerner Corporation by 1.5% in the second quarter. Probity Advisors Inc. now owns 5,486 shares of the company’s stock valued at $365,000 after buying an additional 79 shares during the period. Finally, Warren Averett Asset Management LLC increased its stake in shares of Cerner Corporation by 2.5% in the second quarter. Warren Averett Asset Management LLC now owns 3,673 shares of the company’s stock valued at $244,000 after buying an additional 91 shares during the period. 82.34% of the stock is owned by institutional investors.
Cerner Corporation (CERN) opened at 63.36 on Friday. The stock’s 50 day moving average is $64.63 and its 200 day moving average is $61.39. The stock has a market cap of $21.01 billion, a PE ratio of 32.02 and a beta of 0.95. Cerner Corporation has a 52 week low of $47.01 and a 52 week high of $69.28.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 EPS. Analysts predict that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation announced that its board has authorized a share buyback program on Thursday, May 25th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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Several brokerages recently weighed in on CERN. UBS AG reissued a “neutral” rating and set a $69.00 price target (up previously from $64.00) on shares of Cerner Corporation in a research report on Tuesday, June 6th. Jefferies Group LLC set a $74.00 price target on shares of Cerner Corporation and gave the company a “buy” rating in a research report on Sunday, April 30th. Bank of America Corporation raised shares of Cerner Corporation from an “underperform” rating to a “neutral” rating and raised their price target for the company from $64.36 to $66.00 in a research report on Monday, May 15th. Morgan Stanley raised shares of Cerner Corporation from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $59.00 to $62.00 in a research report on Thursday, August 10th. Finally, Barclays PLC reissued a “hold” rating and set a $60.00 price target on shares of Cerner Corporation in a research report on Monday, May 1st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. Cerner Corporation presently has a consensus rating of “Hold” and a consensus price target of $65.84.
In other news, CFO Marc G. Naughton sold 60,000 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $68.63, for a total value of $4,117,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Clifford W. Illig sold 118,113 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $62.03, for a total transaction of $7,326,549.39. Following the completion of the sale, the chairman now owns 1,229,719 shares in the company, valued at approximately $76,279,469.57. The disclosure for this sale can be found here. Insiders sold 248,913 shares of company stock worth $16,252,337 in the last quarter. Company insiders own 13.20% of the company’s stock.
Cerner Corporation Company Profile
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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