Rhumbline Advisers Has $42.99 Million Holdings in Cerner Corporation (CERN)

Rhumbline Advisers raised its stake in Cerner Corporation (NASDAQ:CERN) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 602,756 shares of the company’s stock after purchasing an additional 9,573 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Cerner Corporation worth $42,989,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CERN. Advisory Services Network LLC grew its stake in Cerner Corporation by 4.4% in the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after purchasing an additional 70 shares in the last quarter. Acrospire Investment Management LLC grew its stake in Cerner Corporation by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock valued at $120,000 after purchasing an additional 900 shares in the last quarter. Pacad Investment Ltd. bought a new position in Cerner Corporation in the second quarter valued at approximately $130,000. Sun Life Financial INC grew its stake in Cerner Corporation by 23,700.0% in the second quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock valued at $142,000 after purchasing an additional 2,133 shares in the last quarter. Finally, ETF Managers Group LLC bought a new position in Cerner Corporation in the second quarter valued at approximately $157,000. Hedge funds and other institutional investors own 78.26% of the company’s stock.

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CERN has been the subject of a number of analyst reports. Royal Bank Of Canada restated a “buy” rating on shares of Cerner Corporation in a research note on Wednesday, October 25th. Robert W. Baird restated a “hold” rating and issued a $67.00 price target on shares of Cerner Corporation in a research note on Thursday, August 31st. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $77.00 price objective on shares of Cerner Corporation in a research report on Tuesday, October 10th. J P Morgan Chase & Co cut Cerner Corporation from an “overweight” rating to a “neutral” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research cut Cerner Corporation from a “buy” rating to a “sell” rating in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the stock. Cerner Corporation currently has a consensus rating of “Hold” and a consensus target price of $69.79.

Shares of Cerner Corporation (NASDAQ:CERN) traded down $0.29 during mid-day trading on Thursday, reaching $64.78. The company had a trading volume of 1,211,500 shares, compared to its average volume of 2,368,979. The company has a market cap of $21,630.24, a price-to-earnings ratio of 28.79, a P/E/G ratio of 2.09 and a beta of 0.93. Cerner Corporation has a twelve month low of $47.01 and a twelve month high of $73.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75.

Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Cerner Corporation had a return on equity of 18.03% and a net margin of 13.37%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. sell-side analysts anticipate that Cerner Corporation will post 2.26 earnings per share for the current fiscal year.

In other Cerner Corporation news, Chairman Clifford W. Illig sold 4,000 shares of Cerner Corporation stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $65.96, for a total transaction of $263,840.00. Following the transaction, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at approximately $81,112,265.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Randy D. Sims sold 60,000 shares of Cerner Corporation stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $68.03, for a total value of $4,081,800.00. Following the transaction, the senior vice president now directly owns 60,890 shares in the company, valued at $4,142,346.70. The disclosure for this sale can be found here. Insiders have sold a total of 257,470 shares of company stock worth $17,695,482 in the last 90 days. 13.20% of the stock is currently owned by corporate insiders.

Cerner Corporation 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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Institutional Ownership by Quarter for Cerner Corporation (NASDAQ:CERN)

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