Washington Trust Co buys $24,915,760 stake in Cerner Corporation (CERN)

Cerner Corporation (CERN) : Washington Trust Co scooped up 59,157 additional shares in Cerner Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 374,955 shares of Cerner Corporation which is valued at $24,915,760.Cerner Corporation makes up approximately 1.60% of Washington Trust Co’s portfolio.

Other Hedge Funds, Including , Mcf Advisors boosted its stake in CERN in the latest quarter, The investment management firm added 24 additional shares and now holds a total of 444 shares of Cerner Corporation which is valued at $29,504. Cerner Corporation makes up approx 0.01% of Mcf Advisors’s portfolio.Oak Ridge Investments reduced its stake in CERN by selling 69,383 shares or 25.79% in the most recent quarter. The Hedge Fund company now holds 199,663 shares of CERN which is valued at $13,351,465. Cerner Corporation makes up approx 0.32% of Oak Ridge Investments’s portfolio.California State Teachers Retirement System reduced its stake in CERN by selling 13,950 shares or 2.19% in the most recent quarter. The Hedge Fund company now holds 622,706 shares of CERN which is valued at $41,285,408. Cerner Corporation makes up approx 0.09% of California State Teachers Retirement System’s portfolio.Brookstone Capital Management boosted its stake in CERN in the latest quarter, The investment management firm added 58 additional shares and now holds a total of 4,097 shares of Cerner Corporation which is valued at $254,178. Cerner Corporation makes up approx 0.03% of Brookstone Capital Management’s portfolio.

Cerner Corporation closed down -0.02 points or -0.03% at $64.6 with 11,77,380 shares getting traded on Tuesday. Post opening the session at $65.03, the shares hit an intraday low of $64.56 and an intraday high of $65.71 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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