RFG Advisory Group LLC increased its stake in shares of Cerner Corporation (NASDAQ:CERN) by 99.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,540 shares of the company’s stock after buying an additional 4,250 shares during the period. RFG Advisory Group LLC’s holdings in Cerner Corporation were worth $562,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. boosted its stake in Cerner Corporation by 2.6% in the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock valued at $110,000 after buying an additional 47 shares during the period. Archford Capital Strategies LLC boosted its stake in shares of Cerner Corporation by 93.8% in the first quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock valued at $153,000 after buying an additional 1,258 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Cerner Corporation during the first quarter valued at $200,000. Brookstone Capital Management acquired a new stake in shares of Cerner Corporation during the first quarter valued at $201,000. Finally, National Asset Management Inc. acquired a new stake in shares of Cerner Corporation during the first quarter valued at $201,000. 82.34% of the stock is owned by institutional investors.
Cerner Corporation (NASDAQ:CERN) traded down 0.283% during mid-day trading on Wednesday, hitting $65.185. 189,679 shares of the stock were exchanged. The firm has a market cap of $21.61 billion, a price-to-earnings ratio of 32.938 and a beta of 0.95. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $69.28. The company has a 50 day moving average price of $64.53 and a 200 day moving average price of $61.67.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates 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 last year, the business posted $0.58 earnings per share. On average, analysts anticipate that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation declared that its board has initiated a share repurchase program 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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CERN has been the subject of several research reports. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $77.00 price target (up previously from $68.00) on shares of Cerner Corporation in a research report on Monday, June 5th. BidaskClub raised shares of Cerner Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Hilliard Lyons cut shares of Cerner Corporation from a “buy” rating to a “neutral” rating and upped their price target for the stock from $62.00 to $68.00 in a research report on Tuesday, May 2nd. Barclays PLC reaffirmed a “hold” rating and issued a $60.00 price target on shares of Cerner Corporation in a research report on Monday, May 1st. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $72.00 price target (up previously from $65.00) on shares of Cerner Corporation in a research report on Tuesday, June 6th. Sixteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Cerner Corporation presently has an average rating of “Hold” and a consensus price target of $65.84.
In related news, CFO Marc G. Naughton sold 60,000 shares of Cerner Corporation stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $68.63, for a total transaction of $4,117,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Clifford W. Illig sold 118,113 shares of Cerner Corporation stock in a transaction dated 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 transaction, the chairman now directly owns 1,229,719 shares in the company, valued at $76,279,469.57. The disclosure for this sale can be found here. Insiders have sold 244,313 shares of company stock worth $15,954,763 over the last three months. Corporate 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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