Bronfman E.L. Rothschild L.P. Increases Stake in Cerner Corporation (CERN)
Bronfman E.L. Rothschild L.P. boosted its position in Cerner Corporation (NASDAQ:CERN) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,530 shares of the company’s stock after buying an additional 359 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Cerner Corporation were worth $1,032,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of CERN. Johnson Financial Group Inc. increased its stake 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 in the last quarter. Pacad Investment Ltd. purchased a new stake in Cerner Corporation during the second quarter worth approximately $130,000. Archford Capital Strategies LLC increased its stake in 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 in the last quarter. Brookstone Capital Management purchased a new stake in Cerner Corporation during the first quarter worth approximately $201,000. Finally, National Asset Management Inc. purchased a new stake in Cerner Corporation during the first quarter worth approximately $201,000. 78.94% of the stock is currently owned by institutional investors.
Shares of Cerner Corporation (NASDAQ:CERN) traded up 1.00% on Thursday, hitting $66.79. The stock had a trading volume of 211,104 shares. The firm has a 50 day moving average price of $64.50 and a 200 day moving average price of $61.88. The company has a market capitalization of $22.15 billion, a P/E ratio of 33.75 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 released its earnings results on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. Cerner Corporation’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 EPS. On average, equities research analysts predict that Cerner Corporation will post $2.50 earnings per share for the current fiscal year.
Cerner Corporation declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 25th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
COPYRIGHT VIOLATION WARNING: This report was originally published by Watch List News and is the property of of Watch List News. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.watchlistnews.com/bronfman-e-l-rothschild-l-p-increases-stake-in-cerner-corporation-cern/1534245.html.
A number of analysts have recently commented on the company. Bank of America Corporation raised Cerner Corporation from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $64.36 to $66.00 in a research note on Monday, May 15th. William Blair reissued an “outperform” rating on shares of Cerner Corporation in a research note on Monday, July 10th. BidaskClub downgraded Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Stifel Nicolaus reissued a “hold” rating and issued a $69.00 price objective on shares of Cerner Corporation in a research note on Friday, July 28th. Finally, Morgan Stanley raised Cerner Corporation from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $59.00 to $62.00 in a research note on Thursday, August 10th. Sixteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Cerner Corporation currently has a consensus rating of “Hold” and an average price target of $65.00.
In other news, Director Gerald E. Bisbee, Jr. sold 6,200 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $67.97, for a total transaction of $421,414.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Marc G. Naughton sold 60,000 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $68.63, for a total transaction of $4,117,800.00. The disclosure for this sale can be found here. Insiders have sold 244,313 shares of company stock worth $15,954,763 in the last quarter. 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.
Want to see what other hedge funds are holding CERN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cerner Corporation (NASDAQ:CERN).
Receive News & Ratings for Cerner Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerner Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.