Tredje AP fonden Holds Position in Cerner Corporation (CERN)
Tredje AP fonden continued to hold its position in shares of Cerner Corporation (NASDAQ:CERN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,047 shares of the company’s stock at the end of the second quarter. Tredje AP fonden’s holdings in Cerner Corporation were worth $1,266,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Cerner Corporation during the 2nd quarter valued at approximately $9,785,000. Polaris Greystone Financial Group LLC increased its holdings in shares of Cerner Corporation by 3.3% during the 2nd quarter. Polaris Greystone Financial Group LLC now owns 26,416 shares of the company’s stock valued at $1,756,000 after purchasing an additional 836 shares in the last quarter. Calamos Advisors LLC increased its holdings in shares of Cerner Corporation by 2.7% during the 2nd quarter. Calamos Advisors LLC now owns 54,003 shares of the company’s stock valued at $3,590,000 after purchasing an additional 1,431 shares in the last quarter. Comgest Global Investors S.A.S. increased its holdings in shares of Cerner Corporation by 1.5% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 158,600 shares of the company’s stock valued at $10,543,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of 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 valued at $1,452,000 after purchasing an additional 74 shares in the last quarter. 78.94% of the stock is owned by hedge funds and other institutional investors.
Shares of Cerner Corporation (CERN) opened at 70.98 on Wednesday. The firm’s 50-day moving average is $65.03 and its 200 day moving average is $62.95. The firm has a market cap of $23.54 billion, a PE ratio of 35.87 and a beta of 0.95. Cerner Corporation has a 52 week low of $47.01 and a 52 week high of $71.07.
Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The company had revenue of $1.29 billion for 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 firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 EPS. Equities research analysts forecast that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation announced that its Board of Directors has initiated a share repurchase program on Thursday, May 25th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In other Cerner Corporation news, President Zane M. Burke sold 94,000 shares of the firm’s stock in a transaction dated 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 can be accessed through this hyperlink. Also, Chairman Clifford W. Illig sold 118,113 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $62.03, for a total value of $7,326,549.39. Following the completion of the sale, 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. Over the last three months, insiders sold 272,113 shares of company stock worth $17,750,529. 13.20% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on CERN. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $72.00 target price (up from $65.00) on shares of Cerner Corporation in a report on Tuesday, June 6th. UBS AG reissued a “neutral” rating and issued a $69.00 price target (up previously from $64.00) on shares of Cerner Corporation in a research note on Tuesday, June 6th. Cantor Fitzgerald reissued a “buy” rating and issued a $77.00 price target (up previously from $68.00) on shares of Cerner Corporation in a research note on Monday, June 5th. Robert W. Baird reissued a “hold” rating and issued a $67.00 price target on shares of Cerner Corporation in a research note on Thursday, August 31st. Finally, Canaccord Genuity reissued a “buy” rating and issued a $69.00 price target on shares of Cerner Corporation in a research note on Wednesday, September 6th. Fifteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $65.71.
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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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