FTB Advisors Inc. increased its position in shares of Cerner Corp. (NASDAQ:CERN) by 31.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,919 shares of the company’s stock after buying an additional 947 shares during the period. FTB Advisors Inc.’s holdings in Cerner Corp. were worth $229,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CERN. Loomis Sayles & Co. L P increased its position in Cerner Corp. by 56.7% in the first quarter. Loomis Sayles & Co. L P now owns 6,953,349 shares of the company’s stock worth $368,249,000 after buying an additional 2,517,398 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Cerner Corp. by 894.2% in the first quarter. Renaissance Technologies LLC now owns 817,604 shares of the company’s stock valued at $43,300,000 after buying an additional 735,365 shares in the last quarter. Scharf Investments LLC increased its position in shares of Cerner Corp. by 43.5% in the first quarter. Scharf Investments LLC now owns 2,101,147 shares of the company’s stock valued at $111,277,000 after buying an additional 637,168 shares in the last quarter. PGGM Investments acquired a new position in shares of Cerner Corp. during the second quarter valued at approximately $32,321,000. Finally, Alta Capital Management LLC acquired a new position in shares of Cerner Corp. during the second quarter valued at approximately $15,696,000. Hedge funds and other institutional investors own 81.41% of the company’s stock.
Cerner Corp. (NASDAQ:CERN) traded down 0.200% during midday trading on Monday, hitting $60.828. The company’s stock had a trading volume of 1,171,273 shares. The stock has a 50 day moving average of $62.56 and a 200 day moving average of $59.39. Cerner Corp. has a 52-week low of $49.59 and a 52-week high of $68.31. The company has a market cap of $20.54 billion, a PE ratio of 33.404 and a beta of 0.79.
Cerner Corp. (NASDAQ:CERN) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. Cerner Corp. had a return on equity of 18.57% and a net margin of 13.53%. The firm earned $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts expect that Cerner Corp. will post $2.36 EPS for the current year.
Several research analysts have recently commented on CERN shares. SunTrust Banks Inc. upgraded Cerner Corp. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.28 to $65.00 in a research note on Thursday, June 23rd. They noted that the move was a valuation call. Wells Fargo & Co. reiterated a “buy” rating on shares of Cerner Corp. in a research note on Sunday, June 26th. Raymond James Financial Inc. downgraded Cerner Corp. from an “outperform” rating to a “market perform” rating and set a $64.57 target price for the company. in a research note on Tuesday, July 5th. Vetr downgraded Cerner Corp. from a “buy” rating to a “hold” rating and set a $64.78 target price for the company. in a research note on Monday, August 1st. Finally, Barclays PLC lifted their target price on Cerner Corp. from $55.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 3rd. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $66.35.
In related news, Director Linda M. Dillman sold 6,000 shares of Cerner Corp. stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $64.68, for a total transaction of $388,080.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Clifford W. Illig sold 325,705 shares of Cerner Corp. stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $65.10, for a total value of $21,203,395.50. Following the sale, the insider now directly owns 6,652,392 shares of the company’s stock, valued at approximately $433,070,719.20. The disclosure for this sale can be found here. 13.20% of the stock is owned by insiders.
About Cerner Corp.
Cerner Corporation 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. Its segments include Domestic and Global. The Domestic segment includes the business activity in the United States.