Cerner Corporation (CERN) Shares Sold by Johnson Financial Group Inc.
Johnson Financial Group Inc. lowered its stake in shares of Cerner Corporation (NASDAQ:CERN) by 9.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,698 shares of the company’s stock after selling 172 shares during the quarter. Johnson Financial Group Inc.’s holdings in Cerner Corporation were worth $113,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Alps Advisors Inc. grew its holdings in Cerner Corporation by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 8,693 shares of the company’s stock worth $578,000 after acquiring an additional 23 shares during the last quarter. Conning Inc. grew its holdings in Cerner Corporation by 0.8% during the 2nd quarter. Conning Inc. now owns 7,742 shares of the company’s stock worth $515,000 after acquiring an additional 58 shares during the last quarter. ProVise Management Group LLC grew its holdings in Cerner Corporation by 1.2% during the 1st quarter. ProVise Management Group LLC now owns 5,115 shares of the company’s stock worth $301,000 after acquiring an additional 60 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Cerner Corporation by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,842 shares of the company’s stock worth $1,452,000 after acquiring an additional 74 shares during the last quarter. Finally, Probity Advisors Inc. grew its holdings in Cerner Corporation by 1.5% during the 2nd quarter. Probity Advisors Inc. now owns 5,486 shares of the company’s stock worth $365,000 after acquiring an additional 79 shares during the last quarter. 78.94% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on CERN shares. Cantor Fitzgerald reissued a “buy” rating and set a $77.00 price objective (up previously from $68.00) on shares of Cerner Corporation in a report on Monday, June 5th. BidaskClub raised shares of Cerner Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. J P Morgan Chase & Co reissued an “overweight” rating and set a $72.00 price objective (up previously from $65.00) on shares of Cerner Corporation in a report on Tuesday, June 6th. Robert W. Baird reissued a “hold” rating and set a $67.00 price objective on shares of Cerner Corporation in a report on Thursday, August 31st. Finally, Bank of America Corporation raised shares of Cerner Corporation from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $64.36 to $66.00 in a report on Monday, May 15th. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Cerner Corporation currently has a consensus rating of “Hold” and a consensus target price of $65.71.
In other Cerner Corporation news, President Zane M. Burke sold 94,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $67.47, for a total value of $6,342,180.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Clifford W. Illig sold 118,113 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $62.03, for a total value of $7,326,549.39. Following the completion of the transaction, the chairman now directly owns 1,229,719 shares in the company, valued at $76,279,469.57. The disclosure for this sale can be found here. Insiders sold 272,113 shares of company stock worth $17,750,529 over the last quarter. 13.20% of the stock is currently owned by company insiders.
Shares of Cerner Corporation (CERN) opened at 69.81 on Monday. The firm has a market capitalization of $23.15 billion, a P/E ratio of 35.28 and a beta of 0.95. The company has a 50 day moving average of $64.89 and a 200-day moving average of $62.73. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $69.99.
Cerner Corporation (NASDAQ:CERN) last announced its earnings results on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company earned $0.58 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. 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 buyback plan on Thursday, May 25th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
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About Cerner Corporation
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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