Financial Advisory Service Lowers stake in Cerner Corporation (CERN)

Cerner Corporation (CERN) : Financial Advisory Service reduced its stake in Cerner Corporation by 8.05% during the most recent quarter end. The investment management company now holds a total of 58,771 shares of Cerner Corporation which is valued at $3,941,183 after selling 5,148 shares in Cerner Corporation , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Cerner Corporation makes up approximately 1.42% of Financial Advisory Service’s portfolio.

Other Hedge Funds, Including , Victory Capital Management Inc reduced its stake in CERN by selling 1,538,980 shares or 97.87% in the most recent quarter. The Hedge Fund company now holds 33,517 shares of CERN which is valued at $2,247,650. Cerner Corporation makes up approx 0.01% of Victory Capital Management Inc’s portfolio.Mutual Of America Capital Management reduced its stake in CERN by selling 7,741 shares or 18.15% in the most recent quarter. The Hedge Fund company now holds 34,898 shares of CERN which is valued at $2,313,737. Cerner Corporation makes up approx 0.05% of Mutual Of America Capital Management’s portfolio.Rhenman Partners Asset Management Ab reduced its stake in CERN by selling 5,000 shares or 5.81% in the most recent quarter. The Hedge Fund company now holds 81,000 shares of CERN which is valued at $5,370,300. Cerner Corporation makes up approx 0.86% of Rhenman Partners Asset Management Ab’s portfolio.Alps Advisors Inc reduced its stake in CERN by selling 560 shares or 6.83% in the most recent quarter. The Hedge Fund company now holds 7,634 shares of CERN which is valued at $472,926. Oakbrook Investments added CERN to its portfolio by purchasing 4,500 company shares during the most recent quarter which is valued at $278,775. Cerner Corporation makes up approx 0.01% of Oakbrook Investments’s portfolio.

Cerner Corporation closed down -0.62 points or -0.94% at $65.36 with 24,70,638 shares getting traded on Wednesday. Post opening the session at $66.24, the shares hit an intraday low of $64.92 and an intraday high of $66.25 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Cerner Corporation reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.57. The company had revenue of $1216.00 million for the quarter, compared to analysts expectations of $1209.57 million. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on Cerner Corporation. Company shares were Reiterated by Deutsche Bank on Aug 15, 2016 to “Buy”, Firm has raised the Price Target to $ 70 from a previous price target of $66 .Company shares were Reiterated by Barclays on Aug 3, 2016 to “Overweight”, Firm has raised the Price Target to $ 67 from a previous price target of $55 .Cerner Corporation was Downgraded by Raymond James to ” Mkt Perform” on Jul 5, 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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