Intrust Bank NA reduced its position in Cerner Co. (NASDAQ:CERN) by 9.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,327 shares of the company’s stock after selling 449 shares during the period. Intrust Bank NA’s holdings in Cerner were worth $255,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of CERN. Meadow Creek Investment Management LLC boosted its position in Cerner by 323.5% in the first quarter. Meadow Creek Investment Management LLC now owns 44,828 shares of the company’s stock valued at $2,638,000 after buying an additional 34,244 shares during the period. UBS Asset Management Americas Inc. boosted its position in Cerner by 9.7% in the first quarter. UBS Asset Management Americas Inc. now owns 793,146 shares of the company’s stock valued at $46,677,000 after buying an additional 70,424 shares during the period. World Asset Management Inc boosted its position in Cerner by 17.1% in the first quarter. World Asset Management Inc now owns 32,233 shares of the company’s stock valued at $1,897,000 after buying an additional 4,700 shares during the period. Swiss National Bank boosted its position in Cerner by 28.2% in the first quarter. Swiss National Bank now owns 1,082,572 shares of the company’s stock valued at $63,709,000 after buying an additional 237,900 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Cerner by 0.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,818 shares of the company’s stock valued at $4,285,000 after buying an additional 299 shares during the period. 80.58% of the stock is currently owned by hedge funds and other institutional investors.
Cerner Co. (NASDAQ:CERN) traded up 0.45% during mid-day trading on Friday, hitting $64.11. The stock had a trading volume of 2,467,614 shares. The stock’s 50 day moving average price is $61.47 and its 200 day moving average price is $54.51. Cerner Co. has a one year low of $47.01 and a one year high of $67.50. The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 33.05 and a beta of 1.05.
Cerner (NASDAQ:CERN) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.06. Cerner had a return on equity of 18.16% and a net margin of 13.27%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts forecast that Cerner Co. will post $2.51 EPS for the current year.
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Several equities analysts have weighed in on the company. Jefferies Group LLC set a $74.00 target price on Cerner and gave the company a “buy” rating in a research note on Sunday, April 30th. Canaccord Genuity lifted their target price on Cerner from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Bank of America Corp raised Cerner from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $64.36 to $66.00 in a research note on Monday. Leerink Swann set a $65.00 target price on Cerner and gave the company a “hold” rating in a research note on Friday, April 28th. Finally, Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Cerner in a report on Friday, February 10th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $64.33.
In related news, Director Denis A. Cortese sold 1,550 shares of the stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $64.39, for a total transaction of $99,804.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Clifford W. Illig sold 234,525 shares of the stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $64.43, for a total value of $15,110,445.75. Following the transaction, the insider now owns 1,229,719 shares of the company’s stock, valued at $79,230,795.17. The disclosure for this sale can be found here. Insiders sold 593,742 shares of company stock valued at $38,057,902 over the last 90 days. Corporate insiders own 13.20% of the company’s stock.
Cerner 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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