Cerner Corporation (CERN) Position Trimmed by FTB Advisors Inc.
FTB Advisors Inc. lowered its position in Cerner Corporation (NASDAQ:CERN) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,645 shares of the company’s stock after selling 71 shares during the period. FTB Advisors Inc.’s holdings in Cerner Corporation were worth $165,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of CERN. Waldron LP bought a new position in Cerner Corporation in the 1st quarter worth $339,000. UBS Asset Management Americas Inc. boosted its holdings in Cerner Corporation by 9.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 793,146 shares of the company’s stock worth $46,677,000 after buying an additional 70,424 shares during the period. Sei Investments Co. boosted its holdings in Cerner Corporation by 23.1% in the 1st quarter. Sei Investments Co. now owns 16,610 shares of the company’s stock worth $977,000 after buying an additional 3,121 shares during the period. Victory Capital Management Inc. boosted its holdings in Cerner Corporation by 41.1% in the 1st quarter. Victory Capital Management Inc. now owns 26,958 shares of the company’s stock worth $1,586,000 after buying an additional 7,859 shares during the period. Finally, Neuberger Berman Group LLC boosted its holdings in Cerner Corporation by 8.5% in the 1st quarter. Neuberger Berman Group LLC now owns 30,075 shares of the company’s stock worth $1,770,000 after buying an additional 2,354 shares during the period. 78.94% of the stock is owned by institutional investors.
Cerner Corporation (NASDAQ CERN) traded down 0.06% during trading on Friday, hitting $71.52. 1,009,926 shares of the stock were exchanged. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $72.82. The stock has a market cap of $23.71 billion, a P/E ratio of 36.14 and a beta of 0.95. The stock’s 50 day moving average price is $68.86 and its 200 day moving average price is $64.92.
Cerner Corporation (NASDAQ:CERN) last announced its earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01). Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company earned $0.58 earnings per share. Cerner Corporation’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts forecast that Cerner Corporation will post $2.50 EPS for the current fiscal year.
Several research analysts recently weighed in on CERN shares. BidaskClub downgraded shares of Cerner Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $74.00 target price on shares of Cerner Corporation in a report on Thursday, July 6th. William Blair reaffirmed an “outperform” rating on shares of Cerner Corporation in a report on Monday, July 10th. Stifel Nicolaus reissued a “hold” rating and set a $69.00 price objective on shares of Cerner Corporation in a report on Friday, July 28th. Finally, Zacks Investment Research downgraded shares of Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $67.00.
In other Cerner Corporation news, 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 transaction of $7,326,549.39. Following the completion of the transaction, the chairman now owns 1,229,719 shares in the company, valued at approximately $76,279,469.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael Nill sold 99,470 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total transaction of $7,007,661.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 371,583 shares of company stock worth $24,758,191. 13.20% of the stock is owned by insiders.
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Cerner Corporation 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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