Frontier Wealth Management buys $3.5 Million stake in Cerner Corporation (CERN)

Cerner Corporation (CERN) : Frontier Wealth Management scooped up 3,582 additional shares in Cerner Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 64,981 shares of Cerner Corporation which is valued at $3.5 Million.Cerner Corporation makes up approximately 0.28% of Frontier Wealth Management’s portfolio.

Other Hedge Funds, Including , Mazama Capital Management Inc reduced its stake in CERN by selling 4,482 shares or 48.29% in the most recent quarter. The Hedge Fund company now holds 4,799 shares of CERN which is valued at $257,898. Cerner Corporation makes up approx 0.05% of Mazama Capital Management Inc’s portfolio.Wesbanco Bank Inc boosted its stake in CERN in the latest quarter, The investment management firm added 21,920 additional shares and now holds a total of 153,161 shares of Cerner Corporation which is valued at $8.2 Million. Cerner Corporation makes up approx 0.49% of Wesbanco Bank Inc’s portfolio.Cornerstone Capital Management Holdings. reduced its stake in CERN by selling 1,366 shares or 2.05% in the most recent quarter. The Hedge Fund company now holds 65,249 shares of CERN which is valued at $3.5 Million. Cerner Corporation makes up approx 0.03% of Cornerstone Capital Management Holdings.’s portfolio.Seven Bridges Advisors reduced its stake in CERN by selling 801 shares or 12.62% in the most recent quarter. The Hedge Fund company now holds 5,547 shares of CERN which is valued at $297,486. Cerner Corporation makes up approx 0.24% of Seven Bridges Advisors’s portfolio.

Cerner Corporation opened for trading at $55.06 and hit $55.66 on the upside on Wednesday, eventually ending the session at $55.31, with a gain of 0.49% or 0.27 points. The heightened volatility saw the trading volume jump to 12,41,307 shares. Company has a market cap of $18,699 M.

On the company’s financial health, Cerner Corporation reported $0.53 EPS for the quarter, based on the information available during the earnings call on May 5, 2016. Analyst had a consensus estimate of $0.53. The company had revenue of $1140.00 million for the quarter, compared to analysts expectations of $1167.19 million. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.

Many Wall Street Analysts have commented on Cerner Corporation. Shares were Reiterated by Topeka Capital Markets on May 6, 2016 to “Buy” and Lowered the Price Target to $ 64 from a previous price target of $65 .Shares were Reiterated by Topeka Capital Markets on Mar 4, 2016 to “Buy” and Lowered the Price Target to $ 65 from a previous price target of $68 .Cerner Corporation was Downgraded by Goldman to ” Neutral” on Feb 23, 2016.

Cerner Corporation (Cerner) is a supplier of health care information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical financial and operational needs of organizations. The Company offers software hardware professional services and managed services. The Company operates in two segments: Domestic and Global. The Domestic segment includes the business activity in the United States. The Global segment includes the business activity in Aruba Australia Austria Brazil Canada Cayman Islands Chile Egypt England Finland France Germany Guam India Ireland Israel Malaysia Mexico Netherlands Qatar Saudi Arabia Singapore Spain Switzerland and the United Arab Emirates. Cerner solutions are offered on the unified Cerner Millennium architecture and on the HealtheIntent cloud-based platform. Its solutions include HealtheRegistries Cerner ITWorks Cerner RevWorks PowerWorks and CommunityWorks among others.

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