Geneva Advisors LLC cut its position in shares of Cerner Co. (NASDAQ:CERN) by 45.0% during the first quarter, Holdings Channel reports. The firm owned 16,682 shares of the company’s stock after selling 13,670 shares during the period. Geneva Advisors LLC’s holdings in Cerner were worth $982,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Fiduciary Management Inc. WI acquired a new stake in Cerner during the fourth quarter worth $239,174,000. Norges Bank acquired a new stake in Cerner during the fourth quarter worth $112,815,000. Russell Investments Group Ltd. acquired a new stake in Cerner during the fourth quarter worth $51,211,000. Canada Pension Plan Investment Board boosted its stake in Cerner by 473.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,076,084 shares of the company’s stock worth $63,328,000 after buying an additional 888,537 shares during the period. Finally, FMR LLC boosted its stake in Cerner by 48.0% in the fourth quarter. FMR LLC now owns 2,730,091 shares of the company’s stock worth $129,325,000 after buying an additional 885,619 shares during the period. Institutional investors and hedge funds own 80.58% of the company’s stock.
Shares of Cerner Co. (NASDAQ:CERN) traded up 1.20% on Friday, hitting $64.89. The company had a trading volume of 3,864,345 shares. The company has a 50 day moving average price of $59.71 and a 200 day moving average price of $54.18. The firm has a market capitalization of $21.41 billion, a price-to-earnings ratio of 33.45 and a beta of 1.05. Cerner Co. has a 1-year low of $47.01 and a 1-year high of $67.50.
Cerner (NASDAQ:CERN) last announced its earnings results on Thursday, April 27th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. Cerner had a return on equity of 18.16% and a net margin of 13.27%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. On average, equities analysts forecast that Cerner Co. will post $2.51 earnings per share for the current fiscal year.
CERN has been the topic of a number of research analyst reports. Canaccord Genuity restated a “buy” rating and issued a $63.00 price target on shares of Cerner in a research note on Friday, January 13th. Barclays PLC dropped their price target on Cerner to $50.00 and set a “hold” rating on the stock in a research note on Friday, February 10th. Zacks Investment Research upgraded Cerner from a “sell” rating to a “hold” rating in a research note on Monday, March 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $66.00 price target on shares of Cerner in a research note on Wednesday, February 22nd. Finally, Citigroup Inc cut Cerner from a “buy” rating to a “neutral” rating in a research note on Friday, February 24th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $64.36.
In other news, VP Jeffrey A. Townsend sold 100,000 shares of the stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $52.31, for a total transaction of $5,231,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael R. Battaglioli sold 4,000 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $65.55, for a total value of $262,200.00. Following the transaction, the vice president now owns 4,000 shares in the company, valued at $262,200. The disclosure for this sale can be found here. Insiders sold a total of 235,550 shares of company stock worth $13,721,305 over the last 90 days. Corporate insiders own 13.20% of the company’s stock.
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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