Cambiar Investors LLC lifted its stake in Cerner Co. (NASDAQ:CERN) by 4.7% in the 1st quarter, Holdings Channel reports. The firm owned 514,303 shares of the company’s stock after buying an additional 22,908 shares during the quarter. Cambiar Investors LLC’s holdings in Cerner were worth $29,423,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc raised its position in shares of Cerner by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 32,550,326 shares of the company’s stock worth $2,096,567,000 after purchasing an additional 462,447 shares during the last quarter. BlackRock Inc. raised its position in shares of Cerner by 5.4% in the 4th quarter. BlackRock Inc. now owns 22,078,769 shares of the company’s stock worth $1,157,811,000 after purchasing an additional 1,122,165 shares during the last quarter. Parnassus Investments CA raised its position in shares of Cerner by 15.6% in the 1st quarter. Parnassus Investments CA now owns 11,361,322 shares of the company’s stock worth $649,981,000 after purchasing an additional 1,531,499 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cerner by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 4,747,793 shares of the company’s stock worth $248,593,000 after purchasing an additional 342,029 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Cerner by 4,852.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,597,804 shares of the company’s stock worth $69,000 after purchasing an additional 3,525,157 shares during the last quarter. 80.16% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Cerner from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Bank of America boosted their target price on Cerner from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday. Cantor Fitzgerald reissued a “buy” rating and issued a $75.00 target price on shares of Cerner in a research report on Tuesday, April 9th. Robert W. Baird boosted their target price on Cerner from $67.00 to $71.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Citigroup set a $77.00 target price on Cerner and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $69.19.
In other news, Director R Halsey Wise purchased 7,600 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was acquired at an average cost of $65.76 per share, for a total transaction of $499,776.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Randy D. Sims sold 48,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $69.27, for a total value of $3,324,960.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 151,968 shares of company stock valued at $10,552,989. Corporate insiders own 4.71% of the company’s stock.
Shares of NASDAQ:CERN opened at $70.15 on Wednesday. Cerner Co. has a fifty-two week low of $48.78 and a fifty-two week high of $70.76. The company has a quick ratio of 2.55, a current ratio of 2.58 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $22.27 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 2.10 and a beta of 1.03.
Cerner (NASDAQ:CERN) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.06. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.39 billion. Cerner had a return on equity of 14.86% and a net margin of 11.65%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 EPS. Sell-side analysts forecast that Cerner Co. will post 2.44 earnings per share for the current year.
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Cerner Corporation provides health care information technology solutions and tech-enabled 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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