Bridges Investment Counsel Inc. raised its position in Cerner Corporation (NASDAQ:CERN) by 65.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,450 shares of the company’s stock after buying an additional 2,550 shares during the period. Bridges Investment Counsel Inc.’s holdings in Cerner Corporation were worth $428,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of CERN. Johnson Financial Group Inc. boosted its position in Cerner Corporation by 2.6% in the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock worth $110,000 after buying an additional 47 shares during the period. Alpha Windward LLC boosted its position in Cerner Corporation by 6.1% in the first quarter. Alpha Windward LLC now owns 2,594 shares of the company’s stock worth $153,000 after buying an additional 148 shares during the period. Archford Capital Strategies LLC boosted its position 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 worth $153,000 after buying an additional 1,258 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Cerner Corporation during the first quarter worth about $200,000. Finally, Brookstone Capital Management purchased a new position in shares of Cerner Corporation during the first quarter worth about $201,000. 82.34% of the stock is owned by institutional investors.
Shares of Cerner Corporation (CERN) traded up 1.40% during midday trading on Friday, hitting $64.25. The company had a trading volume of 2,249,981 shares. The company has a market capitalization of $21.30 billion, a P/E ratio of 32.47 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 firm’s 50 day moving average is $64.58 and its 200 day moving average is $61.47.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by $0.01. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The business 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 for the quarter was up 6.3% on a year-over-year basis. Equities research analysts anticipate that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation announced that its board has authorized 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
A number of equities analysts have issued reports on the company. Bank of America Corporation raised Cerner Corporation from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $64.36 to $66.00 in a report on Monday, May 15th. William Blair reaffirmed an “outperform” rating on shares of Cerner Corporation in a report on Monday, July 10th. Canaccord Genuity upped their target price on Cerner Corporation from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, May 1st. BidaskClub cut Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $69.00 target price on shares of Cerner Corporation in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. Cerner Corporation currently has a consensus rating of “Hold” and an average target price of $65.84.
In related news, Director Linda M. Dillman sold 4,600 shares of the business’s 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Clifford W. Illig sold 118,113 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $62.03, for a total value of $7,326,549.39. Following the transaction, the chairman now owns 1,229,719 shares in the company, valued at approximately $76,279,469.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 248,913 shares of company stock worth $16,252,337. 13.20% of the stock is owned by company insiders.
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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