Bellevue Group AG Has $4.38 Million Position in Cerner Corporation (CERN)
Bellevue Group AG lowered its stake in shares of Cerner Corporation (NASDAQ:CERN) by 24.4% during the first quarter, Holdings Channel reports. The fund owned 74,500 shares of the company’s stock after selling 24,000 shares during the period. Bellevue Group AG’s holdings in Cerner Corporation were worth $4,384,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Stephens Inc. AR increased its stake in Cerner Corporation by 20.2% in the first quarter. Stephens Inc. AR now owns 29,222 shares of the company’s stock valued at $1,720,000 after buying an additional 4,918 shares in the last quarter. Global Financial Private Capital LLC acquired a new stake in Cerner Corporation during the first quarter valued at about $268,000. Front Street Capital Management Inc. increased its stake in Cerner Corporation by 2.2% in the first quarter. Front Street Capital Management Inc. now owns 164,739 shares of the company’s stock valued at $9,695,000 after buying an additional 3,600 shares in the last quarter. Stephens Investment Management Group LLC increased its stake in Cerner Corporation by 12.9% in the first quarter. Stephens Investment Management Group LLC now owns 477,452 shares of the company’s stock valued at $28,098,000 after buying an additional 54,623 shares in the last quarter. Finally, Probity Advisors Inc. increased its stake in Cerner Corporation by 2.4% in the first quarter. Probity Advisors Inc. now owns 5,407 shares of the company’s stock valued at $318,000 after buying an additional 128 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.
Shares of Cerner Corporation (NASDAQ:CERN) traded up 0.17% during midday trading on Friday, hitting $66.04. The stock had a trading volume of 2,866,990 shares. Cerner Corporation has a 52 week low of $47.01 and a 52 week high of $69.28. The stock has a 50 day moving average price of $65.43 and a 200-day moving average price of $56.65. The stock has a market capitalization of $21.82 billion, a price-to-earnings ratio of 34.04 and a beta of 0.97.
Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, April 27th. The company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. Cerner Corporation had a return on equity of 18.36% and a net margin of 13.40%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. Equities research analysts anticipate that Cerner Corporation will post $2.51 earnings per share for the current year.
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Several equities research analysts have issued reports on CERN shares. Cantor Fitzgerald restated an “overweight” rating and set a $66.00 price objective on shares of Cerner Corporation in a report on Wednesday, February 22nd. Stifel Nicolaus lifted their price objective on Cerner Corporation from $56.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, February 22nd. Citigroup Inc. downgraded Cerner Corporation from a “buy” rating to a “neutral” rating in a report on Friday, February 24th. They noted that the move was a valuation call. Zacks Investment Research upgraded Cerner Corporation from a “sell” rating to a “hold” rating in a report on Monday, March 20th. Finally, TheStreet upgraded Cerner Corporation from a “c+” rating to a “b-” rating in a research report on Monday, April 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $64.70.
In other news, COO Michael Nill sold 110,000 shares of the firm’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $63.91, for a total value of $7,030,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Denis A. Cortese sold 1,550 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $64.39, for a total value 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 in the last ninety days. 13.20% of the stock is currently owned by company insiders.
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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