Intellectus Partners LLC Decreases Stake in Cerner Corporation (CERN)
Intellectus Partners LLC lowered its position in Cerner Corporation (NASDAQ:CERN) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,967 shares of the company’s stock after selling 322 shares during the period. Intellectus Partners LLC’s holdings in Cerner Corporation were worth $292,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of CERN. Autus Asset Management LLC raised its stake in shares of Cerner Corporation by 2.3% in the third quarter. Autus Asset Management LLC now owns 96,300 shares of the company’s stock worth $5,946,000 after buying an additional 2,173 shares during the last quarter. Legacy Capital Partners Inc. raised its stake in shares of Cerner Corporation by 4.2% in the third quarter. Legacy Capital Partners Inc. now owns 7,400 shares of the company’s stock worth $457,000 after buying an additional 300 shares during the last quarter. Transamerica Financial Advisors Inc. raised its stake in shares of Cerner Corporation by 8.9% in the third quarter. Transamerica Financial Advisors Inc. now owns 10,563 shares of the company’s stock worth $653,000 after buying an additional 866 shares during the last quarter. Rikoon Group LLC acquired a new stake in shares of Cerner Corporation during the third quarter worth $261,000. Finally, Ngam Advisors L.P. raised its stake in shares of Cerner Corporation by 5.6% in the third quarter. Ngam Advisors L.P. now owns 538,078 shares of the company’s stock worth $33,227,000 after buying an additional 28,651 shares during the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.
Shares of Cerner Corporation (NASDAQ CERN) traded up 0.17% on Friday, hitting $66.04. The stock had a trading volume of 2,866,990 shares. The firm’s 50-day moving average is $65.43 and its 200-day moving average is $56.65. The company has a market cap of $21.82 billion, a price-to-earnings ratio of 34.04 and a beta of 0.97. Cerner Corporation has a one year low of $47.01 and a one year high of $69.28.
Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, April 27th. The company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. Cerner Corporation had a return on equity of 18.36% and a net margin of 13.40%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts expect that Cerner Corporation will post $2.51 EPS for the current fiscal year.
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A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald restated a “buy” rating and set a $77.00 price target (up previously from $68.00) on shares of Cerner Corporation in a research note on Monday, June 5th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $72.00 target price (up previously from $65.00) on shares of Cerner Corporation in a research report on Tuesday, June 6th. Canaccord Genuity reiterated a “buy” rating and issued a $66.00 target price on shares of Cerner Corporation in a research report on Friday, June 2nd. BidaskClub lowered Cerner Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $74.00 target price on shares of Cerner Corporation in a research report on Thursday, June 1st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $64.70.
In related news, Vice Chairman Clifford W. Illig sold 234,525 shares of Cerner Corporation stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $64.43, for a total transaction of $15,110,445.75. Following the completion of the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at $79,230,795.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Neal L. Patterson sold 180,667 shares of Cerner Corporation stock in a transaction on Monday, May 8th. The stock was sold at an average price of $64.71, for a total value of $11,690,961.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 704,542 shares of company stock worth $45,885,490. 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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