FTB Advisors Inc. decreased its position in Cerner Co. (NASDAQ:CERN) by 9.3% during the first quarter, Holdings Channel reports. The firm owned 2,716 shares of the company’s stock after selling 278 shares during the period. FTB Advisors Inc.’s holdings in Cerner were worth $175,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Carderock Capital Management Inc. purchased a new position in Cerner during the third quarter worth approximately $2,748,000. Decatur Capital Management Inc. boosted its position in Cerner by 2.8% in the third quarter. Decatur Capital Management Inc. now owns 203,400 shares of the company’s stock worth $12,560,000 after buying an additional 5,550 shares during the period. Dumont & Blake Investment Advisors LLC boosted its position in Cerner by 0.4% in the third quarter. Dumont & Blake Investment Advisors LLC now owns 17,623 shares of the company’s stock worth $1,088,000 after buying an additional 75 shares during the period. South Texas Money Management Ltd. boosted its position in Cerner by 2.2% in the third quarter. South Texas Money Management Ltd. now owns 586,052 shares of the company’s stock worth $36,189,000 after buying an additional 12,711 shares during the period. Finally, Quantitative Investment Management LLC purchased a new position in Cerner during the third quarter worth approximately $5,792,000. Institutional investors own 80.58% of the company’s stock.
Cerner Co. (NASDAQ:CERN) traded down 0.97% during trading on Friday, reaching $64.12. The company had a trading volume of 1,023,730 shares. The company has a market capitalization of $21.19 billion, a PE ratio of 33.05 and a beta of 1.05. The stock has a 50 day moving average price of $60.40 and a 200-day moving average price of $54.23. Cerner Co. has a 52-week low of $47.01 and a 52-week high of $67.50.
Cerner (NASDAQ:CERN) last released its earnings results on Thursday, April 27th. The company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. Cerner had a net margin of 13.27% and a return on equity of 18.16%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, equities research analysts anticipate that Cerner Co. will post $2.51 earnings per share for the current fiscal year.
A number of research analysts have commented on the company. Hilliard Lyons cut Cerner from a “buy” rating to a “neutral” rating and upped their price target for the stock from $62.00 to $68.00 in a research note on Tuesday, May 2nd. Barclays PLC restated a “hold” rating and set a $60.00 price target on shares of Cerner in a research note on Monday, May 1st. Canaccord Genuity upped their price target on Cerner from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Jefferies Group LLC set a $74.00 price target on Cerner and gave the stock a “buy” rating in a research note on Sunday, April 30th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $68.00 price target (up from $66.00) on shares of Cerner in a research note on Thursday, April 27th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $64.38.
In related news, Director Denis A. Cortese sold 1,550 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $64.39, for a total transaction of $99,804.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Neal L. Patterson sold 180,667 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $64.71, for a total transaction of $11,690,961.57. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 416,217 shares of company stock valued at $25,412,266. 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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