Armstrong Henry H Associates Inc. held its stake in shares of Cerner Corporation (NASDAQ:CERN) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,500 shares of the company’s stock at the end of the second quarter. Armstrong Henry H Associates Inc.’s holdings in Cerner Corporation were worth $631,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. raised its position in 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 in the last quarter. UBS Group AG increased its stake in 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 in the last quarter. Bank of New York Mellon Corp increased its stake in 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 in the last quarter. Fiduciary Management Inc. WI increased its stake in 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 in the last quarter. Finally, Veritas Asset Management LLP bought a new stake in shares of Cerner Corporation during the first quarter worth $186,725,000. Institutional investors and hedge funds own 81.19% of the company’s stock.
Shares of Cerner Corporation (NASDAQ CERN) traded down 0.41% during mid-day trading on Wednesday, hitting $62.90. The stock had a trading volume of 125,839 shares. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $69.28. The company has a market cap of $20.86 billion, a PE ratio of 31.78 and a beta of 0.95. The stock’s 50-day moving average is $65.70 and its 200 day moving average is $60.69.
Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. Cerner Corporation’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 earnings per share. On average, equities research analysts forecast that Cerner Corporation will post $2.50 earnings per share for the current fiscal year.
Cerner Corporation declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 25th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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A number of research firms have recently commented on CERN. Zacks Investment Research downgraded shares of Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub cut shares of Cerner Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and set a $69.00 price objective on shares of Cerner Corporation in a research note on Friday, July 28th. William Blair reaffirmed an “outperform” rating on shares of Cerner Corporation in a research note on Monday, July 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $74.00 price objective on shares of Cerner Corporation in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. Cerner Corporation currently has an average rating of “Hold” and a consensus target price of $64.94.
In related news, Chairman Neal L. Patterson sold 43,000 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $64.33, for a total transaction of $2,766,190.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Clifford W. Illig sold 234,525 shares of Cerner Corporation stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $64.43, for a total value of $15,110,445.75. Following the sale, the insider now directly owns 1,229,719 shares of the company’s stock, valued at approximately $79,230,795.17. The disclosure for this sale can be found here. Insiders have sold a total of 408,325 shares of company stock valued at $26,802,424 over the last three months. 13.20% of the stock is owned by corporate insiders.
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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