Tibra Equities Europe Ltd purchased a new stake in Cerner Co. (NASDAQ:CERN) in the 3rd quarter, HoldingsChannel reports. The firm purchased 14,500 shares of the company’s stock, valued at approximately $988,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC boosted its position in Cerner by 185.9% during the third quarter. Wealthcare Advisory Partners LLC now owns 386 shares of the company’s stock worth $26,000 after purchasing an additional 251 shares during the period. Berman Capital Advisors LLC boosted its position in Cerner by 115.3% during the second quarter. Berman Capital Advisors LLC now owns 381 shares of the company’s stock worth $27,000 after purchasing an additional 204 shares during the period. Altshuler Shaham Ltd boosted its position in Cerner by 173.2% during the second quarter. Altshuler Shaham Ltd now owns 388 shares of the company’s stock worth $28,000 after purchasing an additional 246 shares during the period. Enterprise Financial Services Corp boosted its position in Cerner by 142.8% during the third quarter. Enterprise Financial Services Corp now owns 420 shares of the company’s stock worth $29,000 after purchasing an additional 247 shares during the period. Finally, CSat Investment Advisory L.P. boosted its position in Cerner by 119.7% during the second quarter. CSat Investment Advisory L.P. now owns 637 shares of the company’s stock worth $47,000 after purchasing an additional 347 shares during the period. 83.82% of the stock is owned by institutional investors and hedge funds.
Cerner stock traded up $0.06 during mid-day trading on Friday, hitting $66.89. 75,604 shares of the company were exchanged, compared to its average volume of 2,007,820. The company has a quick ratio of 2.19, a current ratio of 2.21 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $67.44 and a 200 day moving average of $69.66. Cerner Co. has a 1-year low of $48.78 and a 1-year high of $76.47. The company has a market capitalization of $21.11 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 2.11 and a beta of 0.92.
Cerner (NASDAQ:CERN) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Cerner had a return on equity of 15.61% and a net margin of 9.02%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. Research analysts expect that Cerner Co. will post 2.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 25th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $0.72 annualized dividend and a yield of 1.08%. Cerner’s dividend payout ratio is currently 32.58%.
A number of equities research analysts have issued reports on the company. Argus raised Cerner from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd. Morgan Stanley increased their price objective on Cerner from $49.00 to $62.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. BidaskClub cut Cerner from a “sell” rating to a “strong sell” rating in a research report on Friday, October 25th. Barclays set a $70.00 price objective on Cerner and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, Deutsche Bank assumed coverage on Cerner in a research note on Thursday, September 26th. They issued a “buy” rating and a $82.00 target price for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. Cerner has a consensus rating of “Buy” and a consensus price target of $76.73.
In other Cerner news, VP Donald Trigg sold 29,423 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $67.72, for a total transaction of $1,992,525.56. Following the completion of the transaction, the vice president now directly owns 256,354 shares in the company, valued at $17,360,292.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Julie L. Gerberding sold 7,928 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $71.82, for a total value of $569,388.96. The disclosure for this sale can be found here. Insiders have sold 344,268 shares of company stock valued at $23,243,010 over the last quarter. Corporate insiders own 0.75% of the company’s stock.
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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