Ngam Advisors L.P. raised its stake in shares of Cerner Corporation (NASDAQ:CERN) by 32.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 749,009 shares of the company’s stock after buying an additional 183,658 shares during the period. Ngam Advisors L.P. owned approximately 0.23% of Cerner Corporation worth $44,079,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in CERN. Bank of New York Mellon Corp boosted its position in Cerner Corporation by 29.9% in the first quarter. Bank of New York Mellon Corp now owns 14,745,663 shares of the company’s stock valued at $867,783,000 after buying an additional 3,391,745 shares during the period. Loomis Sayles & Co. L P boosted its position in Cerner Corporation by 4.5% in the fourth quarter. Loomis Sayles & Co. L P now owns 9,534,549 shares of the company’s stock valued at $451,652,000 after buying an additional 411,998 shares during the period. FMR LLC boosted its position in Cerner Corporation by 105.5% in the first quarter. FMR LLC now owns 5,609,410 shares of the company’s stock valued at $330,113,000 after buying an additional 2,879,319 shares during the period. Veritas Asset Management LLP purchased a new position in Cerner Corporation during the first quarter valued at approximately $186,725,000. Finally, OppenheimerFunds Inc. boosted its position in Cerner Corporation by 32.1% in the first quarter. OppenheimerFunds Inc. now owns 3,171,723 shares of the company’s stock valued at $186,656,000 after buying an additional 770,496 shares during the period. Hedge funds and other institutional investors own 82.77% of the company’s stock.
Cerner Corporation (NASDAQ:CERN) traded down 0.53% during midday trading on Tuesday, reaching $66.98. The company had a trading volume of 260,980 shares. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $69.28. The stock has a market cap of $22.13 billion, a P/E ratio of 34.53 and a beta of 0.97. The firm has a 50-day moving average of $65.50 and a 200-day moving average of $56.89.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, April 27th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06. Cerner Corporation had a net margin of 13.40% and a return on equity of 18.36%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. On average, equities analysts expect that Cerner Corporation will post $2.51 EPS for the current fiscal year.
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Several equities analysts have commented on CERN shares. Barclays PLC reaffirmed a “hold” rating and issued a $60.00 price target on shares of Cerner Corporation in a report on Monday, May 1st. Leerink Swann set a $65.00 price target on Cerner Corporation and gave the company a “hold” rating in a report on Friday, April 28th. Zacks Investment Research raised Cerner Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $74.00 price target on shares of Cerner Corporation in a report on Thursday, June 1st. Finally, Hilliard Lyons cut Cerner Corporation from a “buy” rating to a “neutral” rating and upped their price target for the company from $62.00 to $68.00 in a report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $64.70.
In other news, CFO Marc G. Naughton sold 60,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $68.63, for a total transaction of $4,117,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Nill sold 110,000 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $63.91, for a total transaction of $7,030,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 704,542 shares of company stock valued at $45,885,490. Company insiders own 13.20% of the company’s stock.
About Cerner Corporation
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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