Chevy Chase Trust Holdings Inc. Buys Shares of 272,241 Cerner Co. (CERN)

Chevy Chase Trust Holdings Inc. bought a new position in Cerner Co. (NASDAQ:CERN) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 272,241 shares of the company’s stock, valued at approximately $16,277,000. Chevy Chase Trust Holdings Inc. owned about 0.08% of Cerner at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Summit Trail Advisors LLC increased its stake in Cerner by 5,166.1% in the 1st quarter. Summit Trail Advisors LLC now owns 1,980,457 shares of the company’s stock valued at $1,980,000 after buying an additional 1,942,849 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Cerner by 18.0% in the 1st quarter. Loomis Sayles & Co. L P now owns 12,297,860 shares of the company’s stock valued at $713,276,000 after buying an additional 1,877,563 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Cerner in the 1st quarter valued at about $81,329,000. Old Mutual Global Investors UK Ltd. purchased a new stake in Cerner in the 1st quarter valued at about $62,557,000. Finally, LGT Capital Partners LTD. purchased a new stake in Cerner in the 2nd quarter valued at about $58,038,000. Institutional investors own 78.26% of the company’s stock.

Several research firms have commented on CERN. SunTrust Banks increased their price objective on shares of Cerner to $65.00 and gave the company a “hold” rating in a research note on Monday. Royal Bank of Canada reiterated a “buy” rating and issued a $72.00 price objective on shares of Cerner in a research note on Friday, August 3rd. Canaccord Genuity increased their price objective on shares of Cerner from $64.00 to $71.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Piper Jaffray Companies reiterated a “buy” rating and issued a $71.00 price objective on shares of Cerner in a research note on Friday, August 3rd. Finally, KeyCorp increased their price objective on shares of Cerner from $71.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company. Cerner presently has an average rating of “Hold” and a consensus target price of $71.04.

In other news, Vice Chairman Clifford W. Illig sold 205,600 shares of the stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $60.26, for a total transaction of $12,389,456.00. Following the completion of the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at approximately $74,102,866.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael R. Battaglioli sold 4,000 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $67.02, for a total transaction of $268,080.00. Following the transaction, the chief accounting officer now directly owns 2,226 shares of the company’s stock, valued at $149,186.52. The disclosure for this sale can be found here. Insiders have sold a total of 280,748 shares of company stock valued at $17,002,795 over the last three months. Insiders own 4.71% of the company’s stock.

Cerner stock opened at $66.29 on Friday. Cerner Co. has a twelve month low of $52.05 and a twelve month high of $73.86. The company has a market cap of $21.70 billion, a PE ratio of 30.39, a P/E/G ratio of 2.09 and a beta of 0.98. The company has a quick ratio of 2.83, a current ratio of 2.85 and a debt-to-equity ratio of 0.09.

Cerner (NASDAQ:CERN) last released its earnings results on Thursday, August 2nd. The company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Cerner had a net margin of 16.06% and a return on equity of 15.26%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm earned $0.61 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. equities analysts expect that Cerner Co. will post 2.28 EPS for the current fiscal year.

About Cerner

Cerner Corporation provides health care information technology solutions and services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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