Stifel Financial Corp trimmed its holdings in Cerner Co. (NASDAQ:CERN) by 5.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,858 shares of the company’s stock after selling 8,838 shares during the period. Stifel Financial Corp’s holdings in Cerner were worth $10,055,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Alps Advisors Inc. grew its position in shares of Cerner by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 8,693 shares of the company’s stock valued at $578,000 after purchasing an additional 23 shares in the last quarter. Laurel Wealth Advisors Inc. grew its position in shares of Cerner by 0.6% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,909 shares of the company’s stock valued at $259,000 after purchasing an additional 24 shares in the last quarter. Conning Inc. grew its position in shares of Cerner by 0.8% during the 2nd quarter. Conning Inc. now owns 7,742 shares of the company’s stock valued at $515,000 after purchasing an additional 58 shares in the last quarter. ProVise Management Group LLC grew its position in shares of Cerner by 1.3% during the 2nd quarter. ProVise Management Group LLC now owns 5,184 shares of the company’s stock valued at $345,000 after purchasing an additional 69 shares in the last quarter. Finally, Advisory Services Network LLC grew its position in shares of Cerner by 4.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.
In other news, CEO Clifford W. Illig sold 140,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $65.52, for a total transaction of $9,172,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,229,719 shares of the company’s stock, valued at $80,571,188.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Nill sold 99,470 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total transaction of $7,007,661.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 833,470 shares of company stock valued at $55,418,902. Insiders own 13.11% of the company’s stock.
Shares of Cerner Co. (NASDAQ CERN) opened at $70.13 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75. The firm has a market cap of $23,408.66, a price-to-earnings ratio of 31.16, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. Cerner Co. has a one year low of $47.01 and a one year high of $73.86.
Cerner (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.01). The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Cerner had a return on equity of 18.03% and a net margin of 13.37%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. equities analysts anticipate that Cerner Co. will post 2.25 EPS for the current fiscal year.
A number of research firms have recently issued reports on CERN. Royal Bank of Canada reaffirmed a “buy” rating on shares of Cerner in a report on Wednesday, October 25th. Jefferies Group reaffirmed a “buy” rating on shares of Cerner in a report on Sunday, October 29th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $70.00 price objective on shares of Cerner in a report on Thursday, November 30th. Zacks Investment Research downgraded shares of Cerner from a “buy” rating to a “sell” rating in a report on Tuesday, October 31st. Finally, Leerink Swann reaffirmed a “hold” rating on shares of Cerner in a report on Saturday, November 25th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $69.50.
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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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