Seven Bridges Advisors LLC Sells 726 Shares of Cerner Corp. (CERN)
Seven Bridges Advisors LLC decreased its position in shares of Cerner Corp. (NASDAQ:CERN) by 13.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,821 shares of the company’s stock after selling 726 shares during the period. Seven Bridges Advisors LLC’s holdings in Cerner Corp. were worth $283,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Acrospire Investment Management LLC acquired a new position in shares of Cerner Corp. during the first quarter worth approximately $106,000. Alpha Windward LLC boosted its position in shares of Cerner Corp. by 2.2% in the second quarter. Alpha Windward LLC now owns 2,061 shares of the company’s stock worth $121,000 after buying an additional 44 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its position in shares of Cerner Corp. by 16.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,085 shares of the company’s stock worth $122,000 after buying an additional 300 shares during the last quarter. CWM LLC boosted its position in shares of Cerner Corp. by 1,785.7% in the second quarter. CWM LLC now owns 2,112 shares of the company’s stock worth $124,000 after buying an additional 2,000 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in shares of Cerner Corp. by 2.7% in the second quarter. Checchi Capital Advisers LLC now owns 2,700 shares of the company’s stock worth $158,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 81.39% of the company’s stock.
Cerner Corp. (NASDAQ:CERN) traded up 0.42% during midday trading on Wednesday, reaching $62.37. The company had a trading volume of 1,309,205 shares. Cerner Corp. has a 1-year low of $49.59 and a 1-year high of $68.31. The company has a market capitalization of $21.06 billion, a P/E ratio of 34.25 and a beta of 0.66. The firm has a 50-day moving average of $64.65 and a 200 day moving average of $58.42.
Cerner Corp. (NASDAQ:CERN) last issued its earnings results on Tuesday, August 2nd. The company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Cerner Corp. had a return on equity of 18.57% and a net margin of 13.53%. The business earned $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the business earned $0.52 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts forecast that Cerner Corp. will post $2.36 EPS for the current year.
A number of brokerages have commented on CERN. Canaccord Genuity reiterated a “buy” rating and set a $68.00 price target on shares of Cerner Corp. in a research report on Sunday, September 11th. Wells Fargo & Co. reissued a “buy” rating on shares of Cerner Corp. in a research note on Sunday, June 26th. Piper Jaffray Cos. reissued an “overweight” rating and set a $81.00 price objective on shares of Cerner Corp. in a research note on Monday, August 29th. Jefferies Group reissued a “buy” rating on shares of Cerner Corp. in a research note on Friday, June 10th. Finally, FBR & Co reissued an “outperform” rating and set a $73.00 price objective on shares of Cerner Corp. in a research note on Friday, June 3rd. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cerner Corp. presently has a consensus rating of “Buy” and a consensus price target of $66.18.
In other Cerner Corp. news, Chairman Neal L. Patterson sold 428,638 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $67.14, for a total value of $28,778,755.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael R. Battaglioli sold 2,000 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $67.34, for a total value of $134,680.00. Following the completion of the sale, the vice president now owns 2,000 shares of the company’s stock, valued at $134,680. The disclosure for this sale can be found here. 13.20% of the stock is owned by company 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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