Cerner Corporation (CERN) Position Decreased by Hartford Investment Management Co.
Hartford Investment Management Co. lowered its position in shares of Cerner Corporation (NASDAQ:CERN) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,358 shares of the company’s stock after selling 4,347 shares during the period. Hartford Investment Management Co.’s holdings in Cerner Corporation were worth $6,937,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Johnson Financial Group Inc. boosted its position in shares of Cerner Corporation by 2.6% in the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock valued at $110,000 after buying an additional 47 shares in the last quarter. Alpha Windward LLC boosted its position in shares of Cerner Corporation by 6.1% in the first quarter. Alpha Windward LLC now owns 2,594 shares of the company’s stock valued at $153,000 after buying an additional 148 shares in the last quarter. Archford Capital Strategies LLC boosted its position in shares of Cerner Corporation by 93.8% in the first quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock valued at $153,000 after buying an additional 1,258 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Cerner Corporation during the first quarter valued at $200,000. Finally, Brookstone Capital Management acquired a new position in shares of Cerner Corporation during the first quarter valued at $201,000. Hedge funds and other institutional investors own 81.19% of the company’s stock.
Cerner Corporation (NASDAQ CERN) traded down 0.35% during mid-day trading on Tuesday, hitting $63.16. 1,200,429 shares of the stock traded hands. The company has a 50 day moving average of $65.70 and a 200-day moving average of $60.69. Cerner Corporation has a 12-month low of $47.01 and a 12-month high of $69.28. The stock has a market cap of $20.94 billion, a PE ratio of 31.92 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last announced its earnings results on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates 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%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 earnings per share. Equities research analysts forecast that Cerner Corporation will post $2.50 earnings per share for the current year.
Cerner Corporation declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 25th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
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Several analysts have recently commented on CERN shares. Zacks Investment Research upgraded shares of Cerner Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Cantor Fitzgerald reiterated a “buy” rating and issued a $68.00 price target (up from $66.00) on shares of Cerner Corporation in a report on Thursday, April 27th. UBS AG lifted their price target on shares of Cerner Corporation from $60.00 to $64.00 and gave the company a “buy” rating in a report on Friday, April 28th. Leerink Swann set a $65.00 price target on shares of Cerner Corporation and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Barclays PLC reiterated a “hold” rating and issued a $60.00 price target on shares of Cerner Corporation in a report on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $64.94.
In other Cerner Corporation news, Chairman Neal L. Patterson sold 43,000 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $64.33, for a total transaction of $2,766,190.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gerald E. Bisbee, Jr. sold 6,200 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $67.97, for a total transaction of $421,414.00. The disclosure for this sale can be found here. Insiders sold a total of 408,325 shares of company stock worth $26,802,424 over the last ninety 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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