Summit Trail Advisors LLC boosted its holdings in Cerner Co. (NASDAQ:CERN) by 23.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,287 shares of the company’s stock after purchasing an additional 8,679 shares during the period. Summit Trail Advisors LLC’s holdings in Cerner were worth $1,980,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of CERN. Loomis Sayles & Co. L P lifted its stake in Cerner by 18.0% in the first quarter. Loomis Sayles & Co. L P now owns 12,297,860 shares of the company’s stock worth $713,276,000 after purchasing an additional 1,877,563 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Cerner in the first quarter valued at about $81,329,000. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Cerner in the first quarter valued at about $62,557,000. Veritas Investment Management LLP purchased a new position in shares of Cerner in the first quarter valued at about $28,367,000. Finally, BlackRock Inc. increased its position in shares of Cerner by 1.7% in the first quarter. BlackRock Inc. now owns 19,852,016 shares of the company’s stock valued at $1,151,416,000 after acquiring an additional 332,712 shares during the period. 77.72% of the stock is owned by institutional investors and hedge funds.
CERN has been the topic of a number of analyst reports. Cantor Fitzgerald restated a “buy” rating and issued a $80.00 price objective on shares of Cerner in a research report on Monday, March 5th. BidaskClub upgraded shares of Cerner from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 8th. Stifel Nicolaus restated a “hold” rating and issued a $71.00 price objective (up previously from $69.00) on shares of Cerner in a research report on Thursday, March 8th. Argus cut shares of Cerner from a “buy” rating to a “hold” rating and boosted their price objective for the company from $54.49 to $64.65 in a research report on Tuesday, March 13th. Finally, William Blair restated a “buy” rating on shares of Cerner in a research report on Thursday, March 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $68.51.
Shares of NASDAQ CERN opened at $59.79 on Monday. Cerner Co. has a 1 year low of $52.05 and a 1 year high of $73.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.93 and a current ratio of 2.95. The stock has a market cap of $19.84 billion, a P/E ratio of 27.18, a P/E/G ratio of 1.89 and a beta of 0.96.
Cerner (NASDAQ:CERN) last announced its quarterly earnings results on Wednesday, May 2nd. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.58. Cerner had a net margin of 16.50% and a return on equity of 15.80%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. Cerner’s quarterly revenue was up 2.6% on a year-over-year basis. equities analysts predict 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 company’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $58.32, for a total value of $174,960.00. Following the sale, the insider now owns 1,229,719 shares in the company, valued at $71,717,212.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Clifford W. Illig sold 205,600 shares of the company’s stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $60.26, for a total transaction of $12,389,456.00. Following the completion of the sale, the insider now owns 1,229,719 shares in the company, valued at approximately $74,102,866.94. The disclosure for this sale can be found here. Insiders have sold 275,848 shares of company stock worth $16,650,169 in the last quarter. 4.71% of the stock is 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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