Cerner Corporation (CERN) Shares Bought by Global X Management Co. LLC
Global X Management Co. LLC raised its position in shares of Cerner Corporation (NASDAQ:CERN) by 2.2% during the second quarter, Holdings Channel reports. The fund owned 10,239 shares of the company’s stock after buying an additional 220 shares during the period. Global X Management Co. LLC’s holdings in Cerner Corporation were worth $681,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Johnson Financial Group Inc. increased its stake in shares of 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 during the last quarter. Alpha Windward LLC increased its stake in shares of Cerner Corporation by 6.1% in the first quarter. Alpha Windward LLC now owns 2,594 shares of the company’s stock worth $153,000 after buying an additional 148 shares during the last quarter. Archford Capital Strategies LLC increased its stake in shares of 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 during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Cerner Corporation during the first quarter worth $200,000. Finally, Brookstone Capital Management acquired a new stake in shares of Cerner Corporation during the first quarter worth $201,000. 82.34% of the stock is owned by institutional investors.
Cerner Corporation (NASDAQ:CERN) opened at 63.44 on Wednesday. The firm has a market cap of $21.04 billion, a P/E ratio of 32.06 and a beta of 0.95. Cerner Corporation has a one year low of $47.01 and a one year high of $69.28. The stock has a 50 day moving average price of $64.81 and a 200-day moving average price of $61.36.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.56 earnings per share 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 the consensus estimate of $1.30 billion. During the same quarter last year, the firm earned $0.58 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts predict that Cerner Corporation will post $2.50 EPS for the current fiscal year.
Cerner Corporation declared that its board has authorized a stock buyback plan on Thursday, May 25th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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CERN has been the subject of a number of research analyst reports. UBS AG upped their price target on shares of Cerner Corporation from $60.00 to $64.00 and gave the company a “buy” rating in a report on Friday, April 28th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $68.00 price objective (up from $66.00) on shares of Cerner Corporation in a research note on Thursday, April 27th. Canaccord Genuity reaffirmed a “buy” rating and set a $66.00 price objective on shares of Cerner Corporation in a research note on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $74.00 price objective on shares of Cerner Corporation in a research note on Thursday, June 1st. Finally, BidaskClub lowered shares of Cerner Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. Cerner Corporation has an average rating of “Hold” and a consensus target price of $65.84.
In other news, EVP Julie M. Wilson sold 60,000 shares of Cerner Corporation stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $68.15, for a total transaction of $4,089,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Linda M. Dillman sold 4,600 shares of Cerner Corporation stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $64.69, for a total value of $297,574.00. The disclosure for this sale can be found here. Insiders have sold a total of 248,913 shares of company stock worth $16,252,337 in the last quarter. 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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