Dimensional Fund Advisors LP raised its holdings in shares of Cerner Co. (NASDAQ:CERN) by 30.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 942,688 shares of the company’s stock after buying an additional 222,680 shares during the period. Dimensional Fund Advisors LP’s holdings in Cerner were worth $54,676,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Sentry Investment Management LLC increased its holdings in Cerner by 4.0% during the first quarter. Sentry Investment Management LLC now owns 23,112 shares of the company’s stock valued at $1,340,000 after buying an additional 896 shares during the last quarter. TCW Group Inc. increased its stake in shares of Cerner by 6.9% in the first quarter. TCW Group Inc. now owns 13,869 shares of the company’s stock worth $804,000 after purchasing an additional 900 shares in the last quarter. Bbva Compass Bancshares Inc. increased its stake in shares of Cerner by 1.2% in the first quarter. Bbva Compass Bancshares Inc. now owns 80,849 shares of the company’s stock worth $4,690,000 after purchasing an additional 924 shares in the last quarter. KCM Investment Advisors LLC increased its stake in shares of Cerner by 1.8% in the first quarter. KCM Investment Advisors LLC now owns 54,906 shares of the company’s stock worth $3,185,000 after purchasing an additional 975 shares in the last quarter. Finally, D.A. Davidson & CO. increased its stake in shares of Cerner by 21.2% in the first quarter. D.A. Davidson & CO. now owns 5,610 shares of the company’s stock worth $325,000 after purchasing an additional 981 shares in the last quarter. 77.72% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on CERN shares. Bank of America started coverage on shares of Cerner in a research note on Tuesday, February 27th. They issued a “buy” rating and a $75.00 price objective for the company. Cantor Fitzgerald reissued a “buy” rating and issued a $80.00 price objective on shares of Cerner in a research note on Monday, March 5th. BidaskClub raised shares of Cerner from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 8th. Stifel Nicolaus reissued a “hold” rating and issued a $71.00 price objective (up from $69.00) on shares of Cerner in a research note on Thursday, March 8th. Finally, Argus cut shares of Cerner from a “buy” rating to a “hold” rating and increased their price objective for the stock from $54.49 to $64.65 in a research note on Tuesday, March 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $68.51.
Cerner opened at $59.81 on Friday, MarketBeat Ratings reports. Cerner Co. has a 52 week low of $52.05 and a 52 week high of $73.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.95 and a quick ratio of 2.93. The firm has a market cap of $19.89 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96.
Cerner (NASDAQ:CERN) last released its quarterly earnings data on Wednesday, May 2nd. The company reported $0.58 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. Cerner had a net margin of 16.50% and a return on equity of 15.80%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business earned $0.59 earnings per share. Cerner’s quarterly revenue was up 2.6% compared to the same quarter last year. research analysts anticipate that Cerner Co. will post 2.28 EPS for the current fiscal year.
In other Cerner news, Vice Chairman Clifford W. Illig sold 3,000 shares of the stock in a transaction on Monday, May 7th. The shares were sold at an average price of $58.32, for a total transaction of $174,960.00. Following the completion of the transaction, the insider now owns 1,229,719 shares in the company, valued at $71,717,212.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Denis A. Cortese sold 5,000 shares of the stock in a transaction on Friday, June 8th. The shares were sold at an average price of $60.25, for a total transaction of $301,250.00. The disclosure for this sale can be found here. Insiders have sold 275,848 shares of company stock valued at $16,650,169 in the last quarter. 4.71% of the stock is owned by company insiders.
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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