Macguire Cheswick & Tuttle Investment Counsel LLC reduced its stake in Cerner Corporation (NASDAQ:CERN) by 10.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,430 shares of the company’s stock after selling 1,050 shares during the period. Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings in Cerner Corporation were worth $673,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. ETF Managers Group LLC purchased a new stake in Cerner Corporation in the second quarter worth about $157,000. Advisory Services Network LLC grew its holdings in Cerner Corporation by 4.4% in the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after purchasing an additional 70 shares during the period. Acrospire Investment Management LLC grew its holdings in Cerner Corporation by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after purchasing an additional 900 shares during the period. Pacad Investment Ltd. purchased a new stake in Cerner Corporation in the second quarter worth about $130,000. Finally, Sun Life Financial INC grew its holdings in Cerner Corporation by 23,700.0% in the second quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock worth $142,000 after purchasing an additional 2,133 shares during the period. 78.90% of the stock is owned by institutional investors.
In other news, President Zane M. Burke sold 94,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $67.47, for a total value of $6,342,180.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Clifford W. Illig sold 118,113 shares of the company’s stock in a transaction on Friday, August 11th. The shares were 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 directly owns 1,229,719 shares in the company, valued at $76,279,469.57. The disclosure for this sale can be found here. Insiders sold a total of 371,583 shares of company stock worth $24,758,191 over the last ninety days. Insiders own 13.20% of the company’s stock.
Cerner Corporation (CERN) traded down 3.70% on Wednesday, reaching $65.02. 1,179,576 shares of the company’s stock traded hands. The stock has a market cap of $21.56 billion, a price-to-earnings ratio of 32.85 and a beta of 0.95. The stock has a 50 day moving average price of $70.96 and a 200 day moving average price of $66.49. Cerner Corporation has a 12-month low of $47.01 and a 12-month high of $73.86.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.01). The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Cerner Corporation had a net margin of 13.37% and a return on equity of 18.03%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. Analysts forecast that Cerner Corporation will post $2.44 EPS for the current year.
A number of equities research analysts have weighed in on the stock. J P Morgan Chase & Co cut shares of Cerner Corporation from an “overweight” rating to a “neutral” rating in a report on Friday, October 27th. SunTrust Banks, Inc. restated a “buy” rating and issued a $75.00 price objective on shares of Cerner Corporation in a report on Monday. Robert W. Baird upgraded shares of Cerner Corporation from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $67.00 to $76.00 in a report on Tuesday. Morgan Stanley upgraded shares of Cerner Corporation from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $59.00 to $62.00 in a report on Thursday, August 10th. Finally, Zacks Investment Research cut shares of Cerner Corporation from a “buy” rating to a “sell” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company. Cerner Corporation has an average rating of “Hold” and a consensus target price of $69.30.
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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.
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