YHB Investment Advisors Inc. boosted its stake in shares of Cerner Corporation (NASDAQ:CERN) by 10.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,399 shares of the company’s stock after buying an additional 1,135 shares during the period. YHB Investment Advisors Inc.’s holdings in Cerner Corporation were worth $824,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. raised its stake in Cerner Corporation by 94.8% in the second quarter. Sei Investments Co. now owns 32,363 shares of the company’s stock valued at $2,150,000 after buying an additional 15,753 shares during the last quarter. S&CO Inc. raised its stake in Cerner Corporation by 3.3% in the second quarter. S&CO Inc. now owns 52,331 shares of the company’s stock valued at $3,478,000 after buying an additional 1,690 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Cerner Corporation by 76.9% in the second quarter. Daiwa Securities Group Inc. now owns 14,950 shares of the company’s stock valued at $994,000 after buying an additional 6,500 shares during the last quarter. CIBC Asset Management Inc raised its stake in Cerner Corporation by 3.1% in the second quarter. CIBC Asset Management Inc now owns 38,844 shares of the company’s stock valued at $2,582,000 after buying an additional 1,179 shares during the last quarter. Finally, Warren Averett Asset Management LLC raised its stake in Cerner Corporation by 2.5% in the second quarter. Warren Averett Asset Management LLC now owns 3,673 shares of the company’s stock valued at $244,000 after buying an additional 91 shares during the last quarter. 81.19% of the stock is owned by institutional investors and hedge funds.
Cerner Corporation (NASDAQ:CERN) traded up 0.83% on Friday, hitting $62.11. The stock had a trading volume of 1,158,591 shares. The stock’s 50 day moving average is $65.07 and its 200 day moving average is $61.07. The stock has a market cap of $20.59 billion, a price-to-earnings ratio of 31.38 and a beta of 0.95. Cerner Corporation has a one year low of $47.01 and a one year high of $69.28.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the company earned $0.58 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that Cerner Corporation will post $2.50 earnings per share for the current year.
Cerner Corporation declared that its board has approved a share repurchase program on Thursday, May 25th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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Several research firms have commented on CERN. Morgan Stanley raised shares of Cerner Corporation from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $59.00 to $62.00 in a research report on Thursday. Zacks Investment Research downgraded shares of Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub downgraded shares of Cerner Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $69.00 price objective on shares of Cerner Corporation in a research note on Friday, July 28th. Finally, William Blair reaffirmed 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, sixteen have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $65.79.
In related news, Director Linda M. Dillman sold 4,600 shares of the stock in a transaction dated 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald E. Bisbee, Jr. sold 6,200 shares of the stock in a transaction dated 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. Insiders sold 130,800 shares of company stock worth $8,925,788 over the last 90 days. Company 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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