First Republic Investment Management Lowers stake in Cerner Corporation (CERN)

Cerner Corporation (CERN) : First Republic Investment Management reduced its stake in Cerner Corporation by 1.93% during the most recent quarter end. The investment management company now holds a total of 958,647 shares of Cerner Corporation which is valued at $63,702,093 after selling 18,828 shares in Cerner Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Cerner Corporation makes up approximately 0.59% of First Republic Investment Management’s portfolio.

Other Hedge Funds, Including , Point72 Asset Management added CERN to its portfolio by purchasing 16,100 company shares during the most recent quarter which is valued at $1,069,845. Cerner Corporation makes up approx 0.01% of Point72 Asset Management’s portfolio.Pictet Asset Management Ltd boosted its stake in CERN in the latest quarter, The investment management firm added 1,191 additional shares and now holds a total of 455,023 shares of Cerner Corporation which is valued at $30,236,278. Cerner Corporation makes up approx 0.11% of Pictet Asset Management Ltd’s portfolio.K.j. Harrison Partners Inc reduced its stake in CERN by selling 14,000 shares or 30.24% in the most recent quarter. The Hedge Fund company now holds 32,300 shares of CERN which is valued at $2,000,985. Cerner Corporation makes up approx 1.05% of K.j. Harrison Partners Inc’s portfolio.

Cerner Corporation opened for trading at $64.75 and hit $65.14 on the upside on Thursday, eventually ending the session at $65.01, with a gain of 0.73% or 0.47 points. The heightened volatility saw the trading volume jump to 13,60,065 shares. Company has a market cap of $21,954 M.

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. Cerner Corporation was Resumed by Stifel to “Hold” on Aug 31, 2016. 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 (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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