Teacher Retirement System of Texas acquired a new stake in Cerner Corporation (NASDAQ:CERN) during the first quarter, according to its most recent filing with the SEC. The institutional investor acquired 8,334 shares of the company’s stock, valued at approximately $490,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advantage Investment Management LLC purchased a new position in Cerner Corporation during the fourth quarter valued at approximately $103,000. Parallel Advisors LLC purchased a new position in Cerner Corporation during the fourth quarter valued at approximately $115,000. Blenheim Capital Management BV purchased a new position in Cerner Corporation during the fourth quarter valued at approximately $126,000. Alpha Windward LLC raised its position in Cerner Corporation by 6.1% in the first quarter. Alpha Windward LLC now owns 2,594 shares of the company’s stock valued at $153,000 after buying an additional 148 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Cerner Corporation during the first quarter valued at approximately $200,000. Hedge funds and other institutional investors own 82.77% of the company’s stock.
Shares of Cerner Corporation (CERN) traded down 0.52% during mid-day trading on Tuesday, reaching $66.99. 261,182 shares of the company were exchanged. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $69.28. The stock has a market capitalization of $22.14 billion, a P/E ratio of 34.53 and a beta of 0.97. The stock has a 50 day moving average price of $65.50 and a 200-day moving average price of $56.89.
Cerner Corporation (NASDAQ:CERN) last issued its earnings results on Thursday, April 27th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. Cerner Corporation had a net margin of 13.40% and a return on equity of 18.36%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. Analysts predict that Cerner Corporation will post $2.51 earnings per share for the current year.
Several research firms recently commented on CERN. Bank of America Corporation upgraded shares of Cerner Corporation from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $64.36 to $66.00 in a research note on Monday, May 15th. Zacks Investment Research upgraded shares of Cerner Corporation from a “sell” rating to a “hold” rating in a research note on Monday, March 20th. Stifel Nicolaus boosted their price objective on shares of Cerner Corporation from $56.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 22nd. TheStreet upgraded shares of Cerner Corporation from a “c+” rating to a “b-” rating in a research note on Monday, April 3rd. Finally, Canaccord Genuity boosted their price objective on shares of Cerner Corporation from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $64.70.
In related news, VP Michael R. Battaglioli sold 4,000 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $65.55, for a total value of $262,200.00. Following the sale, the vice president now directly owns 4,000 shares in the company, valued at approximately $262,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Denis A. Cortese sold 1,550 shares of the business’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $64.39, for a total transaction of $99,804.50. The disclosure for this sale can be found here. Insiders have sold a total of 704,542 shares of company stock worth $45,885,490 over the last 90 days. 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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