UMB Bank N A MO Acquires 2,803 Shares of Cerner Corporation (CERN)
UMB Bank N A MO raised its position in Cerner Corporation (NASDAQ:CERN) by 0.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 440,620 shares of the company’s stock after buying an additional 2,803 shares during the period. Cerner Corporation accounts for approximately 1.0% of UMB Bank N A MO’s holdings, making the stock its 18th largest position. UMB Bank N A MO’s holdings in Cerner Corporation were worth $29,288,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Capital Impact Advisors LLC raised its stake in shares of Cerner Corporation by 32.8% in the first quarter. Capital Impact Advisors LLC now owns 33,985 shares of the company’s stock valued at $2,000,000 after buying an additional 8,389 shares during the last quarter. Bank of The West raised its stake in shares of Cerner Corporation by 347.1% in the first quarter. Bank of The West now owns 23,650 shares of the company’s stock valued at $1,392,000 after buying an additional 18,360 shares during the last quarter. Beese Fulmer Investment Management Inc. raised its stake in shares of Cerner Corporation by 6.1% in the first quarter. Beese Fulmer Investment Management Inc. now owns 23,344 shares of the company’s stock valued at $1,374,000 after buying an additional 1,348 shares during the last quarter. Pinnacle Bank purchased a new stake in shares of Cerner Corporation during the first quarter valued at approximately $269,000. Finally, Cullinan Associates Inc. raised its stake in shares of Cerner Corporation by 118.3% in the first quarter. Cullinan Associates Inc. now owns 69,835 shares of the company’s stock valued at $4,110,000 after buying an additional 37,840 shares during the last quarter. 81.19% of the stock is currently owned by hedge funds and other institutional investors.
Cerner Corporation (NASDAQ:CERN) opened at 62.11 on Friday. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $69.28. The firm has a market cap of $20.59 billion, a price-to-earnings ratio of 31.38 and a beta of 0.95. The firm has a 50-day moving average of $65.07 and a 200 day moving average of $61.07.
Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate 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%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.58 earnings per share. On average, equities research analysts forecast that Cerner Corporation will post $2.50 earnings per share for the current year.
Cerner Corporation announced that its Board of Directors has approved a stock buyback plan on Thursday, May 25th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 2.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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Several equities research analysts have commented on CERN shares. UBS AG raised their price target on shares of Cerner Corporation from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Cantor Fitzgerald restated a “buy” rating and issued a $68.00 price target (up previously from $66.00) on shares of Cerner Corporation in a research note on Thursday, April 27th. Canaccord Genuity restated a “buy” rating and issued a $66.00 price target on shares of Cerner Corporation in a research note on Friday, June 2nd. Jefferies Group LLC restated a “buy” rating and issued a $74.00 price target 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 analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $65.79.
In related news, Director Gerald E. Bisbee, Jr. sold 6,200 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $67.97, for a total transaction of $421,414.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marc G. Naughton sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was 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. Over the last three months, insiders have sold 130,800 shares of company stock valued at $8,925,788. 13.20% of the stock is currently owned by insiders.
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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