Macguire Cheswick & Tuttle Investment Counsel LLC lowered its stake in Cerner Corporation (NASDAQ:CERN) by 7.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,480 shares of the company’s stock after selling 850 shares during the period. Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings in Cerner Corporation were worth $697,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Cerner Corporation by 0.8% in the first quarter. Vanguard Group Inc. now owns 28,419,626 shares of the company’s stock valued at $1,672,495,000 after buying an additional 231,565 shares during the last quarter. 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 during the last quarter. Bank of New York Mellon Corp raised its position 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 during the last quarter. State Street Corp raised its position in Cerner Corporation by 1.8% in the first quarter. State Street Corp now owns 12,593,837 shares of the company’s stock valued at $741,147,000 after buying an additional 228,570 shares during the last quarter. Finally, Fiduciary Management Inc. WI raised its position 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 during the last quarter. Hedge funds and other institutional investors own 81.19% of the company’s stock.
Cerner Corporation (CERN) opened at 62.11 on Friday. Cerner Corporation has a 12-month low of $47.01 and a 12-month high of $69.28. The firm’s 50-day moving average is $65.07 and its 200-day moving average is $61.07. The stock has a market capitalization of $20.59 billion, a P/E ratio of 31.38 and a beta of 0.95.
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 analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. Cerner Corporation’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 EPS. Analysts predict that Cerner Corporation will post $2.50 EPS for the current fiscal year.
Cerner Corporation announced that its board has approved a share repurchase program on Thursday, May 25th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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Several research firms have recently weighed in on CERN. Barclays PLC reiterated a “hold” rating and issued a $60.00 price objective on shares of Cerner Corporation in a research note on Monday, May 1st. Leerink Swann set a $65.00 price objective on shares of Cerner Corporation and gave the company a “hold” rating in a research note on Friday, April 28th. Zacks Investment Research lowered shares of Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. UBS AG lifted their price objective on shares of Cerner Corporation from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $74.00 price objective on shares of Cerner Corporation in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $65.79.
In other news, Director Gerald E. Bisbee, Jr. sold 6,200 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $67.97, for a total value of $421,414.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Julie M. Wilson sold 60,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $68.15, for a total value of $4,089,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,800 shares of company stock valued at $8,925,788. 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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