314,545 Shares in Cerner Corporation (CERN) Acquired by Koch Industries Inc.
Koch Industries Inc. bought a new position in shares of Cerner Corporation (NASDAQ:CERN) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 314,545 shares of the company’s stock, valued at approximately $310,000. Koch Industries Inc. owned 0.09% of Cerner Corporation at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. ETF Managers Group LLC bought a new position in shares of Cerner Corporation during the second quarter worth approximately $157,000. Acrospire Investment Management LLC increased its holdings in shares of Cerner Corporation by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after purchasing an additional 900 shares during the period. Johnson Financial Group Inc. increased its holdings in shares of Cerner Corporation by 2.6% during the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock worth $110,000 after purchasing an additional 47 shares during the period. Pacad Investment Ltd. bought a new position in shares of Cerner Corporation during the second quarter worth approximately $130,000. Finally, Sun Life Financial INC increased its holdings in shares of Cerner Corporation by 23,700.0% during the second quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock worth $142,000 after purchasing an additional 2,133 shares during the period. 78.94% of the stock is currently owned by institutional investors.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01). Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis.
Several brokerages have recently commented on CERN. Morgan Stanley raised shares of Cerner Corporation from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $59.00 to $62.00 in a report on Thursday, August 10th. Zacks Investment Research raised shares of Cerner Corporation from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Tuesday. BidaskClub raised shares of Cerner Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Jefferies Group LLC set a $79.00 target price on shares of Cerner Corporation and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, Royal Bank Of Canada initiated coverage on shares of Cerner Corporation in a research note on Tuesday, September 19th. They issued a “top pick” rating and a $84.00 price objective on the stock. Fourteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $68.53.
In related news, Chairman Clifford W. Illig sold 118,113 shares of the business’s stock in a transaction on 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 sale, the chairman now owns 1,229,719 shares in the company, valued at $76,279,469.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Nill sold 99,470 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total transaction of $7,007,661.50. The disclosure for this sale can be found here. Insiders sold 371,583 shares of company stock worth $24,758,191 in the last 90 days. 13.20% of the stock is currently 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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