Public Employees Retirement System of Ohio maintained its position in Cerner Corporation (NASDAQ:CERN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 250,968 shares of the company’s stock at the end of the first quarter. Public Employees Retirement System of Ohio owned 0.08% of Cerner Corporation worth $14,769,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CERN. SG Americas Securities LLC raised its stake in Cerner Corporation by 581.2% in the first quarter. SG Americas Securities LLC now owns 400,861 shares of the company’s stock worth $23,591,000 after buying an additional 342,013 shares in the last quarter. Toronto Dominion Bank raised its stake in Cerner Corporation by 54.8% in the first quarter. Toronto Dominion Bank now owns 82,127 shares of the company’s stock worth $4,834,000 after buying an additional 29,068 shares in the last quarter. Cim Investment Mangement Inc. raised its stake in Cerner Corporation by 146.2% in the first quarter. Cim Investment Mangement Inc. now owns 26,370 shares of the company’s stock worth $1,552,000 after buying an additional 15,661 shares in the last quarter. Douglass Winthrop Advisors LLC raised its stake in Cerner Corporation by 9.7% in the first quarter. Douglass Winthrop Advisors LLC now owns 22,645 shares of the company’s stock worth $1,333,000 after buying an additional 2,000 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Cerner Corporation by 3,008.5% in the first quarter. BlackRock Inc. now owns 18,298,722 shares of the company’s stock worth $1,076,881,000 after buying an additional 17,710,062 shares in the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.
Shares of Cerner Corporation (CERN) traded up 1.70% during mid-day trading on Friday, reaching $64.60. 2,793,112 shares of the company’s stock were exchanged. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $69.28. The stock has a market cap of $21.39 billion, a price-to-earnings ratio of 32.64 and a beta of 0.96. The stock’s 50-day moving average is $66.00 and its 200-day moving average is $60.28.
Cerner Corporation (NASDAQ:CERN) last announced its earnings results on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.45%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the firm posted $0.58 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts expect that Cerner Corporation will post $2.51 EPS for the current year.
Cerner Corporation announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 25th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 2.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
Several equities analysts have issued reports on the company. Cantor Fitzgerald reaffirmed a “buy” rating and set a $77.00 price objective (up previously from $68.00) on shares of Cerner Corporation in a report on Monday, June 5th. UBS AG reiterated a “neutral” rating and set a $69.00 target price (up previously from $64.00) on shares of Cerner Corporation in a research note on Tuesday, June 6th. J P Morgan Chase & Co restated an “overweight” rating and issued a $72.00 price objective (up previously from $65.00) on shares of Cerner Corporation in a research report on Tuesday, June 6th. Canaccord Genuity reissued a “buy” rating and set a $66.00 price objective on shares of Cerner Corporation in a research note on Friday, June 2nd. Finally, BidaskClub raised shares of Cerner Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $65.32.
In related news, Chairman Neal L. Patterson sold 43,000 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $64.33, for a total value of $2,766,190.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael Nill sold 110,000 shares of the firm’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $63.91, for a total value of $7,030,100.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 704,542 shares of company stock valued at $45,885,490. Insiders own 13.20% of the company’s stock.
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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