State Farm Mutual Automobile Insurance Co. grew its stake in Cerner Corporation (NASDAQ:CERN) by 381.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 429,846 shares of the company’s stock after purchasing an additional 340,486 shares during the period. State Farm Mutual Automobile Insurance Co. owned approximately 0.13% of Cerner Corporation worth $28,572,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of CERN. BlackRock Inc. raised its holdings in shares of Cerner Corporation by 3,008.5% in the first quarter. BlackRock Inc. now owns 18,298,722 shares of the company’s stock worth $1,076,881,000 after buying an additional 17,710,062 shares during the period. UBS Group AG raised its holdings in shares of Cerner Corporation by 1,843.1% in the first quarter. UBS Group AG now owns 5,306,053 shares of the company’s stock worth $312,261,000 after buying an additional 5,032,976 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of 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 worth $867,783,000 after buying an additional 3,391,745 shares during the period. Fiduciary Management Inc. WI raised its holdings in shares of Cerner Corporation by 63.2% in the first quarter. Fiduciary Management Inc. WI now owns 8,241,408 shares of the company’s stock worth $485,007,000 after buying an additional 3,192,338 shares during the period. Finally, Veritas Asset Management LLP purchased a new stake in shares of Cerner Corporation in the first quarter worth approximately $186,725,000. 78.92% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Randy D. Sims sold 60,000 shares of Cerner Corporation stock in a transaction on Friday, September 1st. The shares were sold at an average price of $68.03, for a total transaction of $4,081,800.00. Following the transaction, the senior vice president now owns 60,890 shares in the company, valued at approximately $4,142,346.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael Nill sold 99,470 shares of Cerner Corporation stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total transaction of $7,007,661.50. The disclosure for this sale can be found here. Insiders have sold a total of 371,583 shares of company stock worth $24,758,191 in the last 90 days. Company insiders own 13.20% of the company’s stock.
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Shares of Cerner Corporation (NASDAQ CERN) opened at 69.63 on Friday. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $72.27. The firm has a market cap of $23.09 billion, a PE ratio of 35.18 and a beta of 0.95. The stock has a 50 day moving average price of $66.04 and a 200-day moving average price of $63.61.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.01). The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 EPS. On average, equities analysts anticipate that Cerner Corporation will post $2.50 EPS for the current fiscal year.
Several brokerages have recently weighed in on CERN. KeyCorp reiterated a “buy” rating and issued a $76.00 price target on shares of Cerner Corporation in a report on Friday. Royal Bank Of Canada initiated coverage on Cerner Corporation in a report on Tuesday. They issued a “top pick” rating and a $84.00 price target on the stock. Canaccord Genuity restated a “buy” rating and set a $69.00 price objective on shares of Cerner Corporation in a report on Wednesday, September 6th. Robert W. Baird restated a “hold” rating and set a $67.00 price objective on shares of Cerner Corporation in a report on Thursday, August 31st. Finally, BidaskClub upgraded Cerner Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Fifteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $67.11.
Cerner Corporation Company Profile
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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