Cerner Corporation (CERN) Shares Bought by Financial Enhancement Group LLC
Financial Enhancement Group LLC boosted its position in Cerner Corporation (NASDAQ:CERN) by 2.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,341 shares of the company’s stock after purchasing an additional 2,031 shares during the period. Cerner Corporation makes up about 2.5% of Financial Enhancement Group LLC’s portfolio, making the stock its 13th largest holding. Financial Enhancement Group LLC’s holdings in Cerner Corporation were worth $5,872,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Alps Advisors Inc. increased its position in shares of Cerner Corporation by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 8,693 shares of the company’s stock valued at $578,000 after purchasing an additional 23 shares during the period. Johnson Financial Group Inc. raised its stake in shares of Cerner Corporation by 2.6% in the 1st 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. Conning Inc. raised its stake in shares of Cerner Corporation by 0.8% in the 2nd quarter. Conning Inc. now owns 7,742 shares of the company’s stock worth $515,000 after buying an additional 58 shares in the last quarter. ProVise Management Group LLC raised its stake in shares of Cerner Corporation by 1.2% in the 1st quarter. ProVise Management Group LLC now owns 5,115 shares of the company’s stock worth $301,000 after buying an additional 60 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Cerner Corporation by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,842 shares of the company’s stock worth $1,452,000 after buying an additional 74 shares in the last quarter. 78.94% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Michael Nill sold 99,470 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total value of $7,007,661.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Randy D. Sims sold 60,000 shares of the company’s stock in a transaction 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 directly owns 60,890 shares of the company’s stock, valued at $4,142,346.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 371,583 shares of company stock worth $24,758,191. 13.20% of the stock is currently owned by company insiders.
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CERN has been the subject of several research analyst reports. Zacks Investment Research lowered Cerner Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. KeyCorp reaffirmed a “buy” rating and set a $76.00 target price on shares of Cerner Corporation in a report on Friday, September 22nd. Royal Bank Of Canada assumed coverage on Cerner Corporation in a report on Tuesday, September 19th. They set a “top pick” rating and a $84.00 target price on the stock. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $72.00 price target (up from $65.00) on shares of Cerner Corporation in a research report on Tuesday, June 6th. Finally, UBS AG reiterated a “neutral” rating and issued a $69.00 price target (up from $64.00) on shares of Cerner Corporation in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Cerner Corporation presently has an average rating of “Hold” and an average price target of $67.11.
Cerner Corporation (NASDAQ:CERN) traded down 0.32% during trading on Tuesday, reaching $72.10. The company’s stock had a trading volume of 820,996 shares. Cerner Corporation has a 52 week low of $47.01 and a 52 week high of $72.82. The stock’s 50 day moving average is $67.91 and its 200-day moving average is $64.60. The firm has a market cap of $23.91 billion, a P/E ratio of 36.43 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last posted its earnings results on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.30 billion. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. Cerner Corporation’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 earnings per share. On average, equities research analysts forecast that Cerner Corporation will post $2.50 earnings per share for the current fiscal 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.
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