Schwartz Investment Counsel Inc. Reduces Stake in Cerner Corporation (CERN)
Schwartz Investment Counsel Inc. lessened its position in Cerner Corporation (NASDAQ:CERN) by 6.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 183,000 shares of the company’s stock after selling 12,000 shares during the period. Schwartz Investment Counsel Inc. owned approximately 0.06% of Cerner Corporation worth $13,052,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisory Services Network LLC raised its stake in shares of Cerner Corporation by 4.4% in the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after buying an additional 70 shares in the last quarter. Acrospire Investment Management LLC raised its stake in shares of Cerner Corporation by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after buying an additional 900 shares in the last quarter. Pacad Investment Ltd. bought a new stake in shares of Cerner Corporation in the 2nd quarter worth $130,000. Sun Life Financial INC raised its stake in shares of Cerner Corporation by 23,700.0% in the 2nd quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock worth $142,000 after buying an additional 2,133 shares in the last quarter. Finally, Archford Capital Strategies LLC raised its stake in shares of Cerner Corporation by 93.8% in the 1st quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock worth $153,000 after buying an additional 1,258 shares in the last quarter. 78.90% of the stock is currently owned by institutional investors.
In related news, President Zane M. Burke sold 94,000 shares of Cerner Corporation stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $67.47, for a total value of $6,342,180.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Michael Nill sold 99,470 shares of Cerner Corporation stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total value of $7,007,661.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 371,583 shares of company stock worth $24,758,191. 13.20% of the stock is owned by company insiders.
Shares of Cerner Corporation (CERN) traded up 1.84% on Tuesday, reaching $67.68. The company’s stock had a trading volume of 1,529,202 shares. The company has a 50 day moving average price of $71.04 and a 200 day moving average price of $66.48. The company has a market cap of $22.44 billion, a P/E ratio of 34.20 and a beta of 0.95. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $73.86.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Cerner Corporation had a net margin of 13.37% and a return on equity of 18.03%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 EPS. On average, analysts anticipate that Cerner Corporation will post $2.44 earnings per share for the current fiscal year.
A number of research firms have recently commented on CERN. SunTrust Banks, Inc. reissued a “buy” rating and issued a $79.00 price objective on shares of Cerner Corporation in a research note on Thursday, October 19th. Zacks Investment Research raised Cerner Corporation from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Tuesday, October 17th. Royal Bank Of Canada reissued a “buy” rating on shares of Cerner Corporation in a research note on Wednesday, October 25th. Jefferies Group LLC set a $79.00 price objective on Cerner Corporation and gave the stock a “buy” rating in a research note on Friday, October 13th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $77.00 target price on shares of Cerner Corporation in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. Cerner Corporation currently has a consensus rating of “Hold” and a consensus price target of $69.30.
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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