Bronfman E.L. Rothschild L.P. reduced its stake in Cerner Co. (NASDAQ:CERN) by 13.1% during the second quarter, HoldingsChannel reports. The fund owned 21,048 shares of the company’s stock after selling 3,184 shares during the quarter. Bronfman E.L. Rothschild L.P.’s holdings in Cerner were worth $1,258,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Daiwa Securities Group Inc. lifted its holdings in Cerner by 14.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 10,025 shares of the company’s stock worth $581,000 after purchasing an additional 1,297 shares during the last quarter. Sentry Investment Management LLC increased its position in Cerner by 4.0% in the 1st quarter. Sentry Investment Management LLC now owns 23,112 shares of the company’s stock worth $1,340,000 after buying an additional 896 shares during the period. Inverness Counsel LLC NY bought a new position in Cerner in the 1st quarter worth approximately $4,604,000. Commerzbank Aktiengesellschaft FI increased its position in Cerner by 134.2% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 158,136 shares of the company’s stock worth $9,172,000 after buying an additional 90,606 shares during the period. Finally, Alps Advisors Inc. increased its position in Cerner by 15.0% in the 1st quarter. Alps Advisors Inc. now owns 7,624 shares of the company’s stock worth $442,000 after buying an additional 996 shares during the period. Institutional investors and hedge funds own 80.38% of the company’s stock.
CERN has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $72.00 price target on shares of Cerner in a research report on Friday, August 3rd. KeyCorp lifted their price target on Cerner from $71.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, August 3rd. SunTrust Banks lifted their price target on Cerner to $65.00 and gave the stock a “hold” rating in a research report on Monday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $80.00 price target on shares of Cerner in a research report on Monday, July 9th. Finally, Zacks Investment Research downgraded Cerner from a “hold” rating to a “sell” rating in a research report on Tuesday, May 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $71.69.
CERN opened at $65.29 on Monday. The company has a market cap of $21.44 billion, a PE ratio of 29.68, a PEG ratio of 2.06 and a beta of 0.98. The company has a current ratio of 2.85, a quick ratio of 2.83 and a debt-to-equity ratio of 0.09. Cerner Co. has a 1 year low of $52.05 and a 1 year high of $73.86.
Cerner (NASDAQ:CERN) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Cerner had a return on equity of 15.26% and a net margin of 16.06%. Cerner’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 earnings per share. research analysts predict that Cerner Co. will post 2.28 earnings per share for the current year.
In other news, Vice Chairman Clifford W. Illig sold 378,900 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $66.46, for a total transaction of $25,181,694.00. Following the sale, the insider now directly owns 1,229,719 shares in the company, valued at $81,727,124.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Michael R. Battaglioli sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $67.02, for a total value of $268,080.00. Following the sale, the chief accounting officer now owns 2,226 shares in the company, valued at $149,186.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 642,400 shares of company stock worth $41,128,336. 4.71% of the stock is currently owned by company insiders.
Cerner Corporation provides health care information technology solutions and services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.
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