EagleClaw Capital Managment LLC Reduces Stake in Cerner Co. (CERN)
EagleClaw Capital Managment LLC lessened its position in Cerner Co. (NASDAQ:CERN) by 5.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,725 shares of the company’s stock after selling 1,325 shares during the period. EagleClaw Capital Managment LLC’s holdings in Cerner were worth $1,764,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Cerner by 3.1% during the second quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock worth $1,947,341,000 after purchasing an additional 876,919 shares during the period. BlackRock Inc. raised its position in shares of Cerner by 0.8% during the second quarter. BlackRock Inc. now owns 18,436,042 shares of the company’s stock worth $1,225,441,000 after purchasing an additional 137,320 shares during the period. Bank of New York Mellon Corp raised its position in shares of Cerner by 19.0% during the second quarter. Bank of New York Mellon Corp now owns 17,546,618 shares of the company’s stock worth $1,166,325,000 after purchasing an additional 2,800,955 shares during the period. FMR LLC raised its position in shares of Cerner by 0.8% during the second quarter. FMR LLC now owns 5,652,931 shares of the company’s stock worth $375,750,000 after purchasing an additional 43,521 shares during the period. Finally, Capital International Investors raised its position in shares of Cerner by 0.3% during the third quarter. Capital International Investors now owns 4,851,296 shares of the company’s stock worth $345,994,000 after purchasing an additional 12,178 shares during the period. 82.06% of the stock is currently owned by institutional investors.
Cerner Co. (CERN) opened at $69.66 on Thursday. Cerner Co. has a twelve month low of $47.09 and a twelve month high of $73.86. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $23,160.00, a price-to-earnings ratio of 31.03, a PEG ratio of 2.26 and a beta of 0.94.
Cerner (NASDAQ:CERN) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). Cerner had a net margin of 13.37% and a return on equity of 18.03%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the firm posted $0.59 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. analysts expect that Cerner Co. will post 2.25 EPS for the current fiscal year.
In other Cerner news, Chairman Clifford W. Illig sold 530,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $65.54, for a total value of $34,736,200.00. Following the transaction, the chairman now owns 1,229,719 shares in the company, valued at $80,595,783.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Clifford W. Illig sold 4,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $65.96, for a total value of $263,840.00. Following the completion of the transaction, the chairman now owns 1,229,719 shares in the company, valued at approximately $81,112,265.24. The disclosure for this sale can be found here. Insiders have sold 788,000 shares of company stock worth $52,190,800 in the last quarter. 13.11% of the stock is currently owned by corporate insiders.
CERN has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “buy” rating on shares of Cerner in a research report on Wednesday, October 25th. SunTrust Banks reaffirmed a “buy” rating and set a $79.00 target price on shares of Cerner in a research report on Thursday, October 19th. Zacks Investment Research raised Cerner from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Tuesday, October 17th. Jefferies Group set a $79.00 target price on Cerner and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $77.00 target price on shares of Cerner in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $69.50.
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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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