Cerner Corporation (CERN) Holdings Reduced by Sumitomo Mitsui Trust Holdings Inc.
Sumitomo Mitsui Trust Holdings Inc. lowered its position in Cerner Corporation (NASDAQ:CERN) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 840,835 shares of the company’s stock after selling 5,931 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.25% of Cerner Corporation worth $59,968,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in CERN. Advisory Services Network LLC lifted its stake in shares of Cerner Corporation by 4.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after buying an additional 70 shares during the last quarter. Acrospire Investment Management LLC lifted its stake in shares of Cerner Corporation by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after buying an additional 900 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in shares of Cerner Corporation during the 2nd quarter worth about $130,000. Sun Life Financial INC lifted its stake in shares of Cerner Corporation by 23,700.0% during the 2nd quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock worth $142,000 after buying an additional 2,133 shares during the last quarter. Finally, ETF Managers Group LLC acquired a new stake in shares of Cerner Corporation during the 2nd quarter worth about $157,000. Hedge funds and other institutional investors own 78.26% of the company’s stock.
In other news, President Zane M. Burke sold 94,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $67.47, for a total value of $6,342,180.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Randy D. Sims sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $68.03, for a total transaction of $4,081,800.00. Following the completion of the transaction, the senior vice president now owns 60,890 shares in the company, valued at approximately $4,142,346.70. The disclosure for this sale can be found here. Insiders sold a total of 257,470 shares of company stock worth $17,695,482 in the last 90 days. Corporate insiders own 13.20% of the company’s stock.
Several brokerages have weighed in on CERN. Morgan Stanley upgraded shares of Cerner Corporation from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $59.00 to $62.00 in a research note on Thursday, August 10th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $75.00 price objective on shares of Cerner Corporation in a research note on Monday, October 30th. BidaskClub cut shares of Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Jefferies Group LLC set a $79.00 price objective on shares of Cerner Corporation and gave the stock a “buy” rating in a research note on Friday, October 13th. Finally, Royal Bank Of Canada began 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 for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $69.79.
Shares of Cerner Corporation (CERN) opened at $65.40 on Friday. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11. Cerner Corporation has a 1 year low of $47.01 and a 1 year high of $73.86. The company has a market cap of $21,739.94, a P/E ratio of 28.94, a P/E/G ratio of 2.10 and a beta of 0.93.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Cerner Corporation had a return on equity of 18.03% and a net margin of 13.37%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. analysts predict that Cerner Corporation will post 2.26 earnings per share for the current year.
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.
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.