First Foundation Advisors bought a new position in shares of Cerner Co. (NASDAQ:CERN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,632 shares of the company’s stock, valued at approximately $234,000.
Several other large investors have also modified their holdings of CERN. Icon Wealth Partners LLC acquired a new stake in shares of Cerner in the 2nd quarter worth about $102,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Cerner by 3,608.5% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 31,411 shares of the company’s stock worth $124,000 after acquiring an additional 30,564 shares during the period. CWM LLC increased its holdings in shares of Cerner by 880.5% in the 2nd quarter. CWM LLC now owns 2,510 shares of the company’s stock worth $150,000 after acquiring an additional 2,254 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Cerner by 155.7% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,347 shares of the company’s stock worth $151,000 after acquiring an additional 1,429 shares during the period. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Cerner by 85.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 2,898 shares of the company’s stock worth $173,000 after acquiring an additional 1,335 shares during the period. 77.70% of the stock is currently owned by institutional investors.
In related news, Vice Chairman Clifford W. Illig sold 5,000 shares of the stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $57.19, for a total value of $285,950.00. Following the completion of the transaction, the insider now owns 1,229,719 shares in the company, valued at approximately $70,327,629.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Clifford W. Illig sold 250,000 shares of the stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $57.53, for a total transaction of $14,382,500.00. Following the completion of the transaction, the insider now owns 1,229,719 shares of the company’s stock, valued at approximately $70,745,734.07. The disclosure for this sale can be found here. Insiders sold a total of 919,678 shares of company stock valued at $57,136,166 in the last quarter. 4.71% of the stock is currently owned by insiders.
Cerner (NASDAQ:CERN) last announced its earnings results on Thursday, October 25th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.01). The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.36 billion. Cerner had a net margin of 15.72% and a return on equity of 14.73%. Equities research analysts expect that Cerner Co. will post 2.22 EPS for the current fiscal year.
A number of research firms recently weighed in on CERN. Zacks Investment Research cut shares of Cerner from a “hold” rating to a “sell” rating in a report on Monday. SunTrust Banks increased their price objective on shares of Cerner to $65.00 and gave the stock a “hold” rating in a report on Monday, August 6th. Morgan Stanley set a $68.00 price objective on shares of Cerner and gave the stock a “hold” rating in a report on Monday. KeyCorp increased their price objective on shares of Cerner from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, August 20th. Finally, Cantor Fitzgerald dropped their price objective on shares of Cerner from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.86.
Cerner Company Profile
Cerner Corporation provides health care information technology solutions and services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.
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