Cornerstone Capital Management Holdings LLC. increased its holdings in Cerner Co. (NASDAQ:CERN) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 277,698 shares of the company’s stock after buying an additional 12,432 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.08% of Cerner worth $19,804,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. ETF Managers Group LLC bought a new stake in Cerner in the 2nd quarter valued at about $157,000. Advisory Services Network LLC lifted its position in Cerner by 4.4% in the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after purchasing an additional 70 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Cerner in the 3rd quarter valued at about $121,000. Acrospire Investment Management LLC lifted its position in Cerner by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock valued at $120,000 after purchasing an additional 900 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new stake in shares of Cerner during the 2nd quarter worth about $130,000. 82.06% of the stock is owned by institutional investors and hedge funds.
Cerner Co. (NASDAQ:CERN) opened at $70.42 on Friday. Cerner Co. has a 1 year low of $47.01 and a 1 year high of $73.86. The company has a market cap of $23,249.10, a P/E ratio of 30.95, a P/E/G ratio of 2.26 and a beta of 0.94. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11.
Cerner (NASDAQ:CERN) last posted its earnings results on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Cerner had a return on equity of 18.03% and a net margin of 13.37%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. equities analysts anticipate that Cerner Co. will post 2.25 EPS for the current fiscal year.
In other news, CFO Marc G. Naughton sold 60,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $70.64, for a total value of $4,238,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Clifford W. Illig sold 140,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $65.52, for a total transaction of $9,172,800.00. Following the completion of the sale, the chief executive officer now owns 1,229,719 shares of the company’s stock, valued at $80,571,188.88. The disclosure for this sale can be found here. Insiders sold 833,470 shares of company stock valued at $55,418,902 over the last three months. Insiders own 13.11% of the company’s stock.
A number of research firms have commented on CERN. Jefferies Group set a $79.00 price target on shares of Cerner and gave the stock a “buy” rating in a research report on Friday, October 13th. SunTrust Banks reiterated a “buy” rating and issued a $75.00 target price on shares of Cerner in a report on Monday, October 30th. Royal Bank Of Canada assumed coverage on shares of Cerner in a report on Tuesday, September 19th. They issued a “top pick” rating and a $84.00 target price on the stock. KeyCorp reiterated a “buy” rating and issued a $76.00 target price on shares of Cerner in a report on Friday, September 22nd. Finally, Robert W. Baird upgraded shares of Cerner from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $67.00 to $76.00 in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $69.50.
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Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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