Candriam Luxembourg S.C.A. cut its position in Cerner Corporation (NASDAQ:CERN) by 78.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,999 shares of the company’s stock after selling 74,670 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Cerner Corporation were worth $1,329,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of CERN. Vanguard Group Inc. increased 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 worth $1,672,495,000 after buying an additional 231,565 shares during the last quarter. BlackRock Inc. increased 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 worth $1,076,881,000 after buying an additional 17,710,062 shares during the last quarter. Bank of New York Mellon Corp increased 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 worth $867,783,000 after buying an additional 3,391,745 shares during the last quarter. State Street Corp increased 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 worth $741,147,000 after buying an additional 228,570 shares during the last quarter. Finally, Fiduciary Management Inc. WI increased 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 worth $485,007,000 after buying an additional 3,192,338 shares during the last quarter. 81.19% of the stock is currently owned by institutional investors.
Cerner Corporation (NASDAQ:CERN) opened at 62.11 on Friday. The company has a market cap of $20.59 billion, a PE ratio of 31.38 and a beta of 0.95. The firm’s 50-day moving average is $65.07 and its 200-day moving average is $61.07. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $69.28.
Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.56 EPS 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 company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation declared that its board has approved a stock repurchase program on Thursday, May 25th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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CERN has been the topic of a number of research reports. Barclays PLC reissued a “hold” rating and issued a $60.00 price objective on shares of Cerner Corporation in a report on Monday, May 1st. Leerink Swann set a $65.00 price target on shares of Cerner Corporation and gave the company a “hold” rating in a report on Friday, April 28th. Zacks Investment Research downgraded shares of Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. UBS AG lifted their price target on shares of Cerner Corporation from $60.00 to $64.00 and gave the company a “buy” rating in a report on Friday, April 28th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $74.00 price target on shares of Cerner Corporation in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $65.79.
In other news, Director Linda M. Dillman sold 4,600 shares of Cerner Corporation stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $64.69, for a total transaction of $297,574.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gerald E. Bisbee, Jr. sold 6,200 shares of Cerner Corporation 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 130,800 shares of company stock worth $8,925,788. Insiders own 13.20% of the company’s stock.
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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