Caxton Associates LP purchased a new stake in shares of Cerner Corporation (NASDAQ:CERN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,500 shares of the company’s stock, valued at approximately $432,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC grew its position in Cerner Corporation by 741.9% during the second quarter. Cubist Systematic Strategies LLC now owns 9,825 shares of the company’s stock valued at $653,000 after buying an additional 8,658 shares during the period. Cornerstone Capital Management Holdings LLC. grew its position in Cerner Corporation by 99.2% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 265,266 shares of the company’s stock valued at $17,631,000 after buying an additional 132,114 shares during the period. ETF Managers Group LLC acquired a new stake in Cerner Corporation during the second quarter valued at $157,000. Financial Enhancement Group LLC grew its position in Cerner Corporation by 2.4% during the second quarter. Financial Enhancement Group LLC now owns 88,341 shares of the company’s stock valued at $5,872,000 after buying an additional 2,031 shares during the period. Finally, Sun Life Financial INC grew its position in Cerner Corporation by 23,700.0% during the second quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock valued at $142,000 after buying an additional 2,133 shares during the period. Institutional investors own 78.94% of the company’s stock.
Several analysts recently commented on the stock. Morgan Stanley upgraded 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. Piper Jaffray Companies restated a “buy” rating and set a $77.00 price target on shares of Cerner Corporation in a research report on Thursday. BidaskClub lowered shares of Cerner Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Royal Bank Of Canada assumed coverage on shares of Cerner Corporation in a research report on Tuesday, September 19th. They set a “top pick” rating and a $84.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Cerner Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cerner Corporation currently has an average rating of “Hold” and a consensus target price of $67.56.
ILLEGAL ACTIVITY NOTICE: This report was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this report on another site, it was copied illegally and reposted in violation of international trademark and copyright law. The correct version of this report can be read at https://sportsperspectives.com/2017/10/13/caxton-associates-lp-invests-432000-in-cerner-corporation-cern-stock.html.
Cerner Corporation (CERN) opened at 73.06 on Friday. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $73.08. The firm has a market capitalization of $24.23 billion, a price-to-earnings ratio of 36.92 and a beta of 0.95. The company’s 50-day moving average is $69.63 and its 200-day moving average is $65.33.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.56 EPS 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 net margin of 13.47% and a return on equity of 18.18%. Cerner Corporation’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 earnings per share. Equities analysts predict that Cerner Corporation will post $2.50 earnings per share for the current year.
In related news, COO Michael Nill sold 99,470 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total value of $7,007,661.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Randy D. Sims sold 60,000 shares of the 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 sale, the senior vice president now directly owns 60,890 shares in the company, valued at $4,142,346.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 371,583 shares of company stock worth $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.
Receive News & Ratings for Cerner Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerner Corporation and related companies with MarketBeat.com's FREE daily email newsletter.