Cerner Corporation (CERN) Position Raised by SG Americas Securities LLC
SG Americas Securities LLC raised its position in shares of Cerner Corporation (NASDAQ:CERN) by 81.4% during the second quarter, Holdings Channel reports. The institutional investor owned 727,291 shares of the company’s stock after buying an additional 326,430 shares during the period. SG Americas Securities LLC’s holdings in Cerner Corporation were worth $48,343,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Cerner Corporation by 0.8% in the first quarter. Vanguard Group Inc. now owns 28,419,626 shares of the company’s stock worth $1,672,495,000 after buying an additional 231,565 shares in the last quarter. BlackRock Inc. increased its position in shares of Cerner Corporation by 3,008.5% in the first quarter. BlackRock Inc. now owns 18,298,722 shares of the company’s stock worth $1,076,881,000 after buying an additional 17,710,062 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Cerner Corporation by 29.9% in the first quarter. Bank of New York Mellon Corp now owns 14,745,663 shares of the company’s stock worth $867,783,000 after buying an additional 3,391,745 shares in the last quarter. State Street Corp increased its position in shares of Cerner Corporation by 1.8% in the first quarter. State Street Corp now owns 12,593,837 shares of the company’s stock worth $741,147,000 after buying an additional 228,570 shares in the last quarter. Finally, Fiduciary Management Inc. WI increased its position in shares of Cerner Corporation by 63.2% in the first quarter. Fiduciary Management Inc. WI now owns 8,241,408 shares of the company’s stock worth $485,007,000 after buying an additional 3,192,338 shares in the last quarter. 82.34% of the stock is currently owned by institutional investors.
Shares of Cerner Corporation (CERN) opened at 62.91 on Tuesday. The stock has a market capitalization of $20.86 billion, a P/E ratio of 31.79 and a beta of 0.95. The stock has a 50 day moving average price of $64.92 and a 200 day moving average price of $61.28. Cerner Corporation has a 52 week low of $47.01 and a 52 week 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 Thomson Reuters’ consensus estimate of $0.57 by $0.01. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the business posted $0.58 earnings per share. Cerner Corporation’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation declared that its board has initiated a stock buyback plan on Thursday, May 25th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 2.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.
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CERN has been the topic of a number of recent analyst reports. Barclays PLC reissued a “hold” rating and issued a $60.00 price objective on shares of Cerner Corporation in a research note on Monday, May 1st. Leerink Swann set a $65.00 price objective on Cerner Corporation and gave the company a “hold” rating in a research note on Friday, April 28th. Zacks Investment Research downgraded Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. UBS AG boosted their price objective on Cerner Corporation from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $74.00 price objective on shares of Cerner Corporation in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the stock. Cerner Corporation presently has a consensus rating of “Hold” and an average price target of $65.79.
In other news, Chairman Clifford W. Illig sold 118,113 shares of Cerner Corporation stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $62.03, for a total transaction of $7,326,549.39. Following the completion of the transaction, the chairman now directly owns 1,229,719 shares in the company, valued at $76,279,469.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marc G. Naughton sold 60,000 shares of Cerner Corporation stock in a transaction that occurred on 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 248,913 shares of company stock valued at $16,252,337 over 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.
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