Caisse DE Depot ET Placement DU Quebec boosted its holdings in Cerner Co. (NASDAQ:CERN) by 36.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,116 shares of the company’s stock after buying an additional 1,100 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Cerner were worth $239,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Paloma Partners Management Co purchased a new position in Cerner in the 4th quarter worth about $1,229,000. Geode Capital Management LLC raised its position in Cerner by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,759,894 shares of the company’s stock worth $252,916,000 after buying an additional 98,444 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in Cerner in the 4th quarter worth about $6,585,000. Raymond James & Associates raised its position in Cerner by 43.7% in the 4th quarter. Raymond James & Associates now owns 261,360 shares of the company’s stock worth $17,613,000 after buying an additional 79,436 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new position in Cerner in the 4th quarter worth about $1,138,000. 78.27% of the stock is owned by institutional investors and hedge funds.
Cerner opened at $61.87 on Friday, MarketBeat.com reports. Cerner Co. has a 1-year low of $52.05 and a 1-year high of $73.86. The company has a quick ratio of 2.93, a current ratio of 2.95 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $20.27 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96.
Cerner (NASDAQ:CERN) last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $0.58 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. Cerner had a return on equity of 15.80% and a net margin of 16.50%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the company posted $0.59 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. sell-side analysts expect that Cerner Co. will post 2.28 EPS for the current fiscal year.
CERN has been the subject of a number of recent analyst reports. SunTrust Banks decreased their target price on Cerner to $58.00 in a research report on Friday, May 4th. Wells Fargo & Co set a $75.00 price target on shares of Cerner and gave the company a “buy” rating in a research report on Saturday, March 31st. William Blair reaffirmed a “buy” rating on shares of Cerner in a research report on Thursday, March 29th. Citigroup raised shares of Cerner from a “neutral” rating to a “buy” rating in a research report on Monday, April 23rd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $67.00 price target on shares of Cerner in a research report on Tuesday, April 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $68.51.
In other Cerner news, Vice Chairman Clifford W. Illig sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $60.63, for a total value of $2,728,350.00. Following the completion of the transaction, the insider now directly owns 1,229,719 shares in the company, valued at approximately $74,557,862.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David Brent Shafer sold 13,348 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $61.36, for a total value of $819,033.28. The disclosure for this sale can be found here. Insiders sold a total of 275,848 shares of company stock valued at $16,650,169 over the last 90 days. 4.71% of the stock is currently owned by corporate insiders.
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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