Fjarde AP Fonden Fourth Swedish National Pension Fund Has $4.59 Million Position in Cerner Corporation (CERN)
Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Cerner Corporation (NASDAQ:CERN) by 10.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,055 shares of the company’s stock after buying an additional 6,516 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cerner Corporation were worth $4,590,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Cerner Corporation by 3,008.5% in the first quarter. BlackRock Inc. now owns 18,298,722 shares of the company’s stock valued at $1,076,881,000 after buying an additional 17,710,062 shares during the period. UBS Group AG increased its position in shares of Cerner Corporation by 1,843.1% in the first quarter. UBS Group AG now owns 5,306,053 shares of the company’s stock valued at $312,261,000 after buying an additional 5,032,976 shares during the period. Bank of New York Mellon Corp increased its position in shares of Cerner Corporation by 29.9% in the first quarter. Bank of New York Mellon Corp now owns 14,745,663 shares of the company’s stock valued at $867,783,000 after buying an additional 3,391,745 shares during the period. Fiduciary Management Inc. WI increased its position in shares of Cerner Corporation by 63.2% in the first quarter. Fiduciary Management Inc. WI now owns 8,241,408 shares of the company’s stock valued at $485,007,000 after buying an additional 3,192,338 shares during the period. Finally, Veritas Asset Management LLP bought a new position in shares of Cerner Corporation during the first quarter valued at $186,725,000. Institutional investors own 78.94% of the company’s stock.
Cerner Corporation (NASDAQ:CERN) opened at 65.25 on Monday. The firm has a market capitalization of $21.64 billion, a PE ratio of 32.97 and a beta of 0.95. Cerner Corporation has a one year low of $47.01 and a one year high of $69.28. The company’s 50-day moving average price is $64.50 and its 200 day moving average price is $61.88.
Cerner Corporation (NASDAQ:CERN) last released 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 for the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. Cerner Corporation’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 EPS. On average, 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 share repurchase program on Thursday, May 25th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
CERN has been the topic of several analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $77.00 target price (up from $68.00) on shares of Cerner Corporation in a research note on Monday, June 5th. BidaskClub upgraded Cerner Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Hilliard Lyons downgraded Cerner Corporation from a “buy” rating to a “neutral” rating and lifted their target price for the company from $62.00 to $68.00 in a research note on Tuesday, May 2nd. Barclays PLC reiterated a “hold” rating and issued a $60.00 target price on shares of Cerner Corporation in a research note on Monday, May 1st. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $72.00 target price (up from $65.00) on shares of Cerner Corporation in a research note on Tuesday, June 6th. Sixteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $65.84.
In other news, Chairman Clifford W. Illig sold 118,113 shares of Cerner Corporation 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 transaction, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at $76,279,469.57. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Marc G. Naughton sold 60,000 shares of Cerner Corporation stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $68.63, for a total transaction of $4,117,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 244,313 shares of company stock worth $15,954,763. 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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