Private Bank & Trust Co. cut its position in Cerner Corporation (NASDAQ:CERN) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,240 shares of the company’s stock after selling 225 shares during the period. Private Bank & Trust Co.’s holdings in Cerner Corporation were worth $880,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of CERN. Douglass Winthrop Advisors LLC increased its position in shares of 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 in the last quarter. S&CO Inc. increased its position in shares of Cerner Corporation by 5.4% in the first quarter. S&CO Inc. now owns 50,641 shares of the company’s stock worth $2,980,000 after buying an additional 2,586 shares in the last quarter. Paradigm Financial Advisors LLC acquired a new position in shares of Cerner Corporation during the first quarter worth about $215,000. Chevy Chase Trust Holdings Inc. increased its position in shares of Cerner Corporation by 0.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 254,362 shares of the company’s stock worth $14,969,000 after buying an additional 1,089 shares in the last quarter. Finally, Capital Investment Services of America Inc. increased its position in shares of Cerner Corporation by 8.7% in the first quarter. Capital Investment Services of America Inc. now owns 224,754 shares of the company’s stock worth $13,227,000 after buying an additional 18,069 shares in the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.
Shares of Cerner Corporation (CERN) traded up 1.40% during midday trading on Friday, hitting $64.25. The stock had a trading volume of 2,249,981 shares. The stock has a market cap of $21.30 billion, a P/E ratio of 32.47 and a beta of 0.95. Cerner Corporation has a 12-month low of $47.01 and a 12-month high of $69.28. The stock has a 50-day moving average price of $64.58 and a 200-day moving average price of $61.47.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 earnings per share. Equities analysts forecast that Cerner Corporation will post $2.50 earnings per share for the current year.
Cerner Corporation announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 25th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
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CERN has been the topic of a number of recent analyst reports. Barclays PLC reiterated a “hold” rating and set a $60.00 price target on shares of Cerner Corporation in a research report on Monday, May 1st. Leerink Swann set a $65.00 price target on Cerner Corporation and gave the stock a “hold” rating in a research report on Friday, April 28th. Zacks Investment Research downgraded Cerner Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. UBS AG increased their price target on Cerner Corporation from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $74.00 target price on shares of Cerner Corporation in a research report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $65.84.
In other news, Director Gerald E. Bisbee, Jr. sold 6,200 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $67.97, for a total transaction of $421,414.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Clifford W. Illig sold 118,113 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $62.03, for a total value of $7,326,549.39. Following the sale, the chairman now owns 1,229,719 shares of the company’s stock, valued at $76,279,469.57. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 248,913 shares of company stock valued at $16,252,337. 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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