Taylor Frigon Capital Management Lowers stake in Cerner Corporation (CERN)

Cerner Corporation (CERN) : Taylor Frigon Capital Management reduced its stake in Cerner Corporation by 0.04% during the most recent quarter end. The investment management company now holds a total of 21,973 shares of Cerner Corporation which is valued at $1,456,810 after selling 8 shares in Cerner Corporation , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Cerner Corporation makes up approximately 1.46% of Taylor Frigon Capital Management’s portfolio.

Other Hedge Funds, Including , Fulton Breakefield Broenniman reduced its stake in CERN by selling 13,599 shares or 12.79% in the most recent quarter. The Hedge Fund company now holds 92,718 shares of CERN which is valued at $6,147,203. Cerner Corporation makes up approx 1.23% of Fulton Breakefield Broenniman’s portfolio. Sanders Morris Harris sold out all of its stake in CERN during the most recent quarter. The investment firm sold 6,432 shares of CERN which is valued $398,462.

Cerner Corporation opened for trading at $66.85 and hit $67.48 on the upside on Monday, eventually ending the session at $67.33, with a gain of 0.69% or 0.46 points. The heightened volatility saw the trading volume jump to 18,83,893 shares. Company has a market cap of $22,738 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. 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 was Upgraded by SunTrust to ” Buy” on Jun 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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