Securian Asset Management Inc boosted its position in Cerner Co. (NASDAQ:CERN) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,031 shares of the company’s stock after buying an additional 248 shares during the period. Securian Asset Management Inc’s holdings in Cerner were worth $1,785,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in Cerner by 191,922.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 15,043,035 shares of the company’s stock worth $968,920,000 after purchasing an additional 15,035,201 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in Cerner in the 3rd quarter worth approximately $108,027,000. Panagora Asset Management Inc. boosted its position in Cerner by 1,668.9% in the 3rd quarter. Panagora Asset Management Inc. now owns 1,128,149 shares of the company’s stock worth $72,664,000 after purchasing an additional 1,064,373 shares in the last quarter. American Century Companies Inc. boosted its position in Cerner by 43.7% in the 3rd quarter. American Century Companies Inc. now owns 2,796,500 shares of the company’s stock worth $180,123,000 after purchasing an additional 850,122 shares in the last quarter. Finally, Morgan Stanley boosted its position in Cerner by 25.4% in the 3rd quarter. Morgan Stanley now owns 3,201,690 shares of the company’s stock worth $206,221,000 after purchasing an additional 649,256 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.
In other news, Vice Chairman Clifford W. Illig sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $57.19, for a total transaction of $285,950.00. Following the completion of the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at approximately $70,327,629.61. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Clifford W. Illig sold 435,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $57.95, for a total value of $25,208,250.00. The disclosure for this sale can be found here. Corporate insiders own 4.71% of the company’s stock.
Shares of CERN stock opened at $56.01 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.41 and a quick ratio of 2.60. The company has a market cap of $18.45 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. Cerner Co. has a 1-year low of $48.78 and a 1-year high of $67.57.
Cerner (NASDAQ:CERN) last announced its earnings results on Tuesday, February 5th. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. Cerner had a return on equity of 14.84% and a net margin of 11.74%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 EPS. On average, sell-side analysts forecast that Cerner Co. will post 2.37 earnings per share for the current fiscal year.
CERN has been the topic of several recent research reports. Zacks Investment Research restated a “sell” rating on shares of Cerner in a research report on Monday, December 31st. BidaskClub lowered Cerner from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Morgan Stanley lowered their price objective on Cerner from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Monday, December 3rd. Leerink Swann upgraded Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research report on Monday, October 29th. Finally, Royal Bank of Canada lowered Cerner from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $72.00 to $54.00 in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $68.90.
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Cerner Company Profile
Cerner Corporation provides health care information technology solutions and services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.
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