Synovus Financial Corp raised its stake in shares of Cerner Co. (NASDAQ:CERN) by 2.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 46,306 shares of the company’s stock after buying an additional 1,241 shares during the period. Synovus Financial Corp’s holdings in Cerner were worth $3,114,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its stake in shares of Cerner by 4.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after buying an additional 70 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Cerner during the 3rd quarter valued at about $121,000. Cerebellum GP LLC purchased a new position in shares of Cerner during the 4th quarter valued at about $127,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Cerner during the 3rd quarter valued at about $128,000. Finally, Fort Pitt Capital Group LLC purchased a new position in shares of Cerner during the 3rd quarter valued at about $205,000. Institutional investors and hedge funds own 81.63% of the company’s stock.
In other Cerner news, VP Jeffrey A. Townsend sold 230,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $61.94, for a total transaction of $14,246,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Zollars sold 4,100 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $62.16, for a total value of $254,856.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 348,100 shares of company stock valued at $22,519,016. 13.11% of the stock is owned by company insiders.
Cerner Co. (CERN) opened at $63.00 on Wednesday. The company has a quick ratio of 2.99, a current ratio of 3.01 and a debt-to-equity ratio of 0.11. Cerner Co. has a 52 week low of $54.01 and a 52 week high of $73.86. The firm has a market capitalization of $21,359.40, a PE ratio of 24.51, a P/E/G ratio of 1.92 and a beta of 0.90.
Cerner (NASDAQ:CERN) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.03). Cerner had a net margin of 16.86% and a return on equity of 16.82%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. Cerner’s revenue for the quarter was up 4.5% on a year-over-year basis. research analysts forecast that Cerner Co. will post 2.42 earnings per share for the current year.
A number of research firms have weighed in on CERN. Royal Bank of Canada reiterated a “buy” rating on shares of Cerner in a research note on Wednesday, October 25th. Jefferies Group reiterated a “buy” rating on shares of Cerner in a research note on Sunday, October 29th. Cantor Fitzgerald reduced their price objective on Cerner from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, February 7th. Piper Jaffray Companies reiterated a “buy” rating and set a $70.00 price objective on shares of Cerner in a research note on Thursday, November 30th. Finally, Citigroup began coverage on Cerner in a research note on Thursday, January 4th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $67.05.
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Cerner Company Profile
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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