Armstrong Henry H Associates Inc. continued to hold its position in Cerner Corporation (NASDAQ:CERN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in Cerner Corporation by 581.2% in the first quarter. SG Americas Securities LLC now owns 400,861 shares of the company’s stock worth $23,591,000 after buying an additional 342,013 shares during the period. Toronto Dominion Bank increased its position in Cerner Corporation by 54.8% in the first quarter. Toronto Dominion Bank now owns 82,127 shares of the company’s stock worth $4,834,000 after buying an additional 29,068 shares during the period. Cim Investment Mangement Inc. increased its position in Cerner Corporation by 146.2% in the first quarter. Cim Investment Mangement Inc. now owns 26,370 shares of the company’s stock worth $1,552,000 after buying an additional 15,661 shares during the period. Douglass Winthrop Advisors LLC increased its position in Cerner Corporation by 9.7% in the first quarter. Douglass Winthrop Advisors LLC now owns 22,645 shares of the company’s stock worth $1,333,000 after buying an additional 2,000 shares during the period. Finally, Ardevora Asset Management LLP bought a new position in Cerner Corporation during the second quarter worth about $27,977,000. Institutional investors and hedge funds own 82.34% of the company’s stock.
Shares of Cerner Corporation (CERN) opened at 63.96 on Thursday. The company has a market cap of $21.21 billion, a PE ratio of 32.32 and a beta of 0.95. The firm’s 50-day moving average is $64.74 and its 200-day moving average is $61.38. Cerner Corporation has a one year low of $47.01 and a one year high of $69.28.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the business posted $0.58 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation announced that its Board of Directors has approved a stock buyback plan on Thursday, May 25th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts have issued reports on CERN shares. Canaccord Genuity reiterated a “buy” rating and set a $66.00 price target on shares of Cerner Corporation in a research note on Friday, June 2nd. J P Morgan Chase & Co reiterated an “overweight” rating and set a $72.00 price target (up previously from $65.00) on shares of Cerner Corporation in a research note on Tuesday, June 6th. Cantor Fitzgerald restated a “buy” rating and issued a $77.00 target price (up previously from $68.00) on shares of Cerner Corporation in a research note on Monday, June 5th. Jefferies Group LLC restated a “buy” rating and issued a $74.00 target price on shares of Cerner Corporation in a research note on Thursday, July 6th. Finally, William Blair restated an “outperform” rating on shares of Cerner Corporation in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Cerner Corporation has a consensus rating of “Hold” and a consensus target price of $65.84.
In other news, Chairman Clifford W. Illig sold 118,113 shares of the firm’s stock in a transaction 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 sale, the chairman now directly owns 1,229,719 shares in the company, valued at approximately $76,279,469.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marc G. Naughton sold 60,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $68.63, for a total transaction of $4,117,800.00. The disclosure for this sale can be found here. Insiders sold 248,913 shares of company stock worth $16,252,337 over the last quarter. Insiders own 13.20% of the company’s stock.
About Cerner Corporation
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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