Koch Industries Inc. purchased a new stake in Cerner Corporation (NASDAQ:CERN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 314,545 shares of the company’s stock, valued at approximately $310,000. Koch Industries Inc. owned about 0.09% of Cerner Corporation at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. ETF Managers Group LLC purchased a new position in Cerner Corporation during the 2nd quarter worth $157,000. Acrospire Investment Management LLC raised its position in Cerner Corporation by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after buying an additional 900 shares during the last quarter. Johnson Financial Group Inc. raised its position in Cerner Corporation by 2.6% during the 1st quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock worth $110,000 after buying an additional 47 shares during the last quarter. Pacad Investment Ltd. purchased a new position in Cerner Corporation during the 2nd quarter worth $130,000. Finally, Sun Life Financial INC raised its position in Cerner Corporation by 23,700.0% during the 2nd quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock worth $142,000 after buying an additional 2,133 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.
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A number of equities analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of Cerner Corporation from an “overweight” rating to a “neutral” rating in a research report on Friday. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Cerner Corporation in a research note on Wednesday. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $79.00 price target on shares of Cerner Corporation in a research note on Thursday, October 19th. Zacks Investment Research raised shares of Cerner Corporation from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research note on Tuesday, October 17th. Finally, Jefferies Group LLC set a $79.00 price target on shares of Cerner Corporation and gave the stock a “buy” rating in a research note on Friday, October 13th. Fifteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $69.05.
In other news, COO Michael Nill sold 99,470 shares of Cerner Corporation stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total value of $7,007,661.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Clifford W. Illig sold 118,113 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $62.03, for a total value of $7,326,549.39. Following the sale, the chairman now owns 1,229,719 shares in the company, valued at approximately $76,279,469.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,583 shares of company stock worth $24,758,191. Corporate insiders own 13.20% of the company’s stock.
Cerner Corporation (NASDAQ:CERN) traded down 9.58% during midday trading on Friday, reaching $64.49. The company’s stock had a trading volume of 2,923,069 shares. Cerner Corporation has a 1-year low of $47.01 and a 1-year high of $73.86. The firm has a market capitalization of $21.38 billion, a PE ratio of 32.59 and a beta of 0.95. The firm has a 50 day moving average price of $71.12 and a 200 day moving average price of $66.24.
Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business earned $0.59 EPS. Cerner Corporation’s revenue was up 7.7% on a year-over-year basis. On average, analysts predict that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation 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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