Russell Investments Group Ltd. Raises Position in Cerner Corporation (CERN)
Russell Investments Group Ltd. grew its holdings in shares of Cerner Corporation (NASDAQ:CERN) by 18.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,213,944 shares of the company’s stock after acquiring an additional 185,957 shares during the period. Russell Investments Group Ltd. owned about 0.37% of Cerner Corporation worth $86,568,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in CERN. Bank of New York Mellon Corp increased its position in shares of Cerner Corporation by 19.0% during the second quarter. Bank of New York Mellon Corp now owns 17,546,618 shares of the company’s stock worth $1,166,325,000 after buying an additional 2,800,955 shares during the period. American Century Companies Inc. increased its position in shares of Cerner Corporation by 62.4% during the second quarter. American Century Companies Inc. now owns 3,929,394 shares of the company’s stock worth $261,187,000 after buying an additional 1,510,288 shares during the period. Vanguard Group Inc. increased its position in shares of Cerner Corporation by 3.1% during the second quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock worth $1,947,341,000 after buying an additional 876,919 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Cerner Corporation during the second quarter worth $44,524,000. Finally, Prudential Financial Inc. increased its position in shares of Cerner Corporation by 64.5% during the second quarter. Prudential Financial Inc. now owns 1,192,666 shares of the company’s stock worth $79,277,000 after buying an additional 467,476 shares during the period. 78.26% of the stock is owned by hedge funds and other institutional investors.
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 shares were sold at an average price of $67.47, for a total value of $6,342,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Clifford W. Illig sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $65.96, for a total transaction of $263,840.00. Following the completion of the transaction, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at approximately $81,112,265.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 257,470 shares of company stock valued at $17,695,482. 13.20% of the stock is owned by corporate insiders.
A number of equities research analysts have commented on CERN shares. Piper Jaffray Companies restated a “buy” rating and issued a $77.00 price target on shares of Cerner Corporation in a report on Thursday, October 12th. Cantor Fitzgerald reiterated a “buy” rating and set a $77.00 price objective on shares of Cerner Corporation in a report on Tuesday, October 10th. KeyCorp reiterated a “buy” rating and set a $76.00 price objective on shares of Cerner Corporation in a report on Friday, September 22nd. Canaccord Genuity reiterated a “buy” rating and set a $69.00 price objective on shares of Cerner Corporation in a report on Wednesday, September 6th. Finally, Jefferies Group LLC set a $79.00 price objective on shares of Cerner Corporation and gave the company a “buy” rating in a report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $69.79.
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Shares of Cerner Corporation (NASDAQ:CERN) traded up $0.76 during trading hours on Friday, reaching $65.54. 1,032,300 shares of the company traded hands, compared to its average volume of 2,362,958. The stock has a market capitalization of $21,533.84, a PE ratio of 28.66, a P/E/G ratio of 2.08 and a beta of 0.93. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $73.86. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.01). The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Cerner Corporation had a net margin of 13.37% and a return on equity of 18.03%. Cerner Corporation’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 EPS. equities analysts anticipate that Cerner Corporation will post 2.26 earnings per share for the current year.
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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