Arcadia Investment Management Corp MI decreased its stake in Cerner Corporation (NASDAQ:CERN) by 11.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,699 shares of the company’s stock after selling 7,228 shares during the period. Arcadia Investment Management Corp MI’s holdings in Cerner Corporation were worth $3,702,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in CERN. SG Americas Securities LLC boosted its stake in Cerner Corporation by 581.2% in the first quarter. SG Americas Securities LLC now owns 400,861 shares of the company’s stock valued at $23,591,000 after buying an additional 342,013 shares during the last quarter. Toronto Dominion Bank boosted its stake in Cerner Corporation by 54.8% in the first quarter. Toronto Dominion Bank now owns 82,127 shares of the company’s stock valued at $4,834,000 after buying an additional 29,068 shares during the last quarter. IBM Retirement Fund boosted its stake in Cerner Corporation by 114.6% in the second quarter. IBM Retirement Fund now owns 7,038 shares of the company’s stock valued at $523,000 after buying an additional 3,759 shares during the last quarter. Cim Investment Mangement Inc. boosted its stake in Cerner Corporation by 146.2% in the first quarter. Cim Investment Mangement Inc. now owns 26,370 shares of the company’s stock valued at $1,552,000 after buying an additional 15,661 shares during the last quarter. Finally, Ardevora Asset Management LLP acquired a new stake in Cerner Corporation during the second quarter valued at $27,977,000. Hedge funds and other institutional investors own 82.34% of the company’s stock.
Shares of Cerner Corporation (CERN) opened at 62.85 on Tuesday. Cerner Corporation has a 12-month low of $47.01 and a 12-month high of $69.28. The firm has a market capitalization of $20.84 billion, a P/E ratio of 31.76 and a beta of 0.95. The company has a 50-day moving average price of $64.92 and a 200-day moving average price of $61.28.
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. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. Cerner Corporation’s revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 25th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have weighed in on CERN shares. Canaccord Genuity restated a “buy” rating and set a $66.00 target price on shares of Cerner Corporation in a research note on Friday, June 2nd. J P Morgan Chase & Co restated an “overweight” rating and set a $72.00 target price (up from $65.00) on shares of Cerner Corporation in a research note on Tuesday, June 6th. Cantor Fitzgerald restated a “buy” rating and set a $77.00 target price (up from $68.00) on shares of Cerner Corporation in a research note on Monday, June 5th. Jefferies Group LLC restated a “buy” rating and set a $74.00 target price on shares of Cerner Corporation in a research note on Thursday, July 6th. Finally, William Blair restated an “outperform” rating on shares of Cerner Corporation in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, sixteen 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 $65.79.
In other Cerner Corporation news, Director Linda M. Dillman sold 4,600 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $64.69, for a total value of $297,574.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Julie M. Wilson sold 60,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $68.15, for a total transaction of $4,089,000.00. The disclosure for this sale can be found here. Insiders sold 248,913 shares of company stock worth $16,252,337 in the last 90 days. Corporate 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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