K.J. Harrison & Partners Inc Sells 14,000 Shares of Cerner Corp. (CERN)
K.J. Harrison & Partners Inc cut its stake in shares of Cerner Corp. (NASDAQ:CERN) by 30.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,300 shares of the company’s stock after selling 14,000 shares during the period. Cerner Corp. makes up 1.0% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 29th largest position. K.J. Harrison & Partners Inc’s holdings in Cerner Corp. were worth $1,893,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in Cerner Corp. by 894.2% in the first quarter. Renaissance Technologies LLC now owns 817,604 shares of the company’s stock worth $43,300,000 after buying an additional 735,365 shares during the period. Legal & General Group Plc increased its position in Cerner Corp. by 3.9% in the first quarter. Legal & General Group Plc now owns 1,237,391 shares of the company’s stock worth $65,533,000 after buying an additional 46,424 shares during the period. Robecosam AG bought a new position in Cerner Corp. during the first quarter worth approximately $3,650,000. Gateway Investment Advisers LLC increased its position in Cerner Corp. by 1.9% in the second quarter. Gateway Investment Advisers LLC now owns 69,224 shares of the company’s stock worth $4,057,000 after buying an additional 1,304 shares during the period. Finally, Douglas Lane & Associates LLC increased its position in Cerner Corp. by 3.9% in the second quarter. Douglas Lane & Associates LLC now owns 863,834 shares of the company’s stock worth $50,621,000 after buying an additional 32,542 shares during the period. Institutional investors and hedge funds own 81.39% of the company’s stock.
Shares of Cerner Corp. (NASDAQ:CERN) traded up 0.42% on Wednesday, hitting $62.37. 1,309,205 shares of the company’s stock traded hands. The company has a market cap of $21.06 billion, a price-to-earnings ratio of 34.25 and a beta of 0.66. The firm’s 50-day moving average price is $64.65 and its 200 day moving average price is $58.42. Cerner Corp. has a 1-year low of $49.59 and a 1-year high of $68.31.
Cerner Corp. (NASDAQ:CERN) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The company earned $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Cerner Corp. had a return on equity of 18.57% and a net margin of 13.53%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. On average, equities research analysts expect that Cerner Corp. will post $2.36 earnings per share for the current year.
A number of research firms have commented on CERN. Bank of America Corp. began coverage on shares of Cerner Corp. in a research note on Monday. They set a “buy” rating and a $67.00 price objective on the stock. Canaccord Genuity reiterated a “buy” rating and set a $68.00 price objective on shares of Cerner Corp. in a research note on Sunday, September 11th. Cowen and Company downgraded shares of Cerner Corp. from an “outperform” rating to a “market perform” rating and set a $65.00 price objective on the stock. in a research note on Thursday, September 8th. Stifel Nicolaus began coverage on shares of Cerner Corp. in a research note on Wednesday, August 31st. They set a “hold” rating on the stock. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $81.00 price objective on shares of Cerner Corp. in a research note on Monday, August 29th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $66.18.
In related news, Director Linda M. Dillman sold 6,000 shares of Cerner Corp. stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $64.68, for a total value of $388,080.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Zane M. Burke sold 149,480 shares of Cerner Corp. stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $66.73, for a total value of $9,974,800.40. The disclosure for this sale can be found here. 13.20% of the stock is owned by corporate insiders.
About Cerner Corp.
Cerner Corporation 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. Its segments include Domestic and Global. The Domestic segment includes the business activity in the United States.
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