Maple Capital Management Inc. cut its holdings in Cerner (NASDAQ:CERN) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,450 shares of the company’s stock after selling 1,151 shares during the quarter. Maple Capital Management Inc.’s holdings in Cerner were worth $974,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Cerner by 2.2% during the fourth quarter. BlackRock Inc. now owns 19,519,304 shares of the company’s stock worth $1,315,406,000 after purchasing an additional 420,942 shares during the last quarter. Capital International Investors lifted its position in shares of Cerner by 0.3% during the third quarter. Capital International Investors now owns 4,851,296 shares of the company’s stock worth $345,994,000 after purchasing an additional 12,178 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cerner by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 3,759,894 shares of the company’s stock worth $252,916,000 after purchasing an additional 98,444 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Cerner by 3.7% during the fourth quarter. American Century Companies Inc. now owns 3,204,461 shares of the company’s stock worth $215,949,000 after purchasing an additional 114,224 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Cerner by 1.8% during the third quarter. Legal & General Group Plc now owns 1,477,451 shares of the company’s stock worth $105,371,000 after purchasing an additional 25,842 shares during the last quarter. 78.54% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Jeffrey A. Townsend sold 230,000 shares of Cerner stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Clifford W. Illig sold 307,700 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $64.52, for a total value of $19,852,804.00. Following the completion of the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at $79,341,469.88. The disclosure for this sale can be found here. Insiders have sold 541,800 shares of company stock valued at $34,353,860 in the last ninety days. Corporate insiders own 13.11% of the company’s stock.
Several analysts have recently weighed in on CERN shares. Zacks Investment Research upgraded Cerner from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Cantor Fitzgerald restated a “buy” rating and issued a $80.00 price objective on shares of Cerner in a report on Monday, March 5th. BidaskClub downgraded Cerner from a “sell” rating to a “strong sell” rating in a report on Thursday, March 15th. Bank of America started coverage on Cerner in a report on Tuesday, February 27th. They issued a “buy” rating and a $75.00 price objective for the company. Finally, Evercore ISI started coverage on Cerner in a report on Thursday, January 18th. They issued an “in-line” rating and a $77.00 price objective for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. Cerner currently has an average rating of “Hold” and a consensus price target of $67.42.
Shares of CERN stock traded down $1.70 during trading hours on Friday, reaching $56.42. 2,983,674 shares of the company’s stock were exchanged, compared to its average volume of 3,355,942. Cerner has a 1 year low of $55.29 and a 1 year high of $73.86. The firm has a market capitalization of $19,330.56, a price-to-earnings ratio of 25.65, a PEG ratio of 1.69 and a beta of 0.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.99 and a current ratio of 3.01.
Cerner (NASDAQ:CERN) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.03). Cerner had a return on equity of 16.82% and a net margin of 16.86%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. Cerner’s revenue was up 4.5% on a year-over-year basis. equities analysts forecast that Cerner will post 2.42 earnings per share for the current year.
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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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