Geode Capital Management LLC increased its stake in shares of Cerner Co. (NASDAQ:CERN) by 7.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,747,793 shares of the company’s stock after acquiring an additional 342,029 shares during the period. Geode Capital Management LLC owned approximately 1.46% of Cerner worth $248,593,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Essex Savings Bank acquired a new stake in shares of Cerner in the fourth quarter valued at $27,000. JNBA Financial Advisors acquired a new position in Cerner in the 4th quarter worth about $34,000. Financial Gravity Companies Inc. acquired a new position in Cerner in the 4th quarter worth about $44,000. Lindbrook Capital LLC acquired a new position in Cerner in the 4th quarter worth about $62,000. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Cerner by 4,852.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,597,804 shares of the company’s stock worth $69,000 after acquiring an additional 3,525,157 shares in the last quarter. 81.69% of the stock is currently owned by hedge funds and other institutional investors.
CERN has been the subject of a number of recent research reports. Zacks Investment Research cut Cerner from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. Morgan Stanley cut Cerner from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $68.00 to $47.00 in a report on Thursday, February 28th. ValuEngine raised Cerner from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Barclays reissued a “hold” rating and issued a $68.00 target price on shares of Cerner in a report on Wednesday, April 10th. Finally, SunTrust Banks raised Cerner from a “hold” rating to a “buy” rating and increased their target price for the stock from $60.00 to $76.00 in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Cerner currently has a consensus rating of “Buy” and a consensus price target of $69.29.
Shares of NASDAQ:CERN traded down $0.25 during trading on Friday, reaching $72.23. 1,577,298 shares of the stock were exchanged, compared to its average volume of 2,533,084. Cerner Co. has a 12 month low of $48.78 and a 12 month high of $73.24. The stock has a market cap of $23.59 billion, a PE ratio of 32.68, a P/E/G ratio of 2.20 and a beta of 0.89. The company has a quick ratio of 2.55, a current ratio of 2.58 and a debt-to-equity ratio of 0.09.
Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.06. Cerner had a return on equity of 14.86% and a net margin of 11.65%. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. Equities research analysts expect that Cerner Co. will post 2.44 earnings per share for the current year.
The business also recently declared a special dividend, which will be paid on Friday, July 26th. Stockholders of record on Tuesday, June 18th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 17th.
In other news, Director John J. Greisch purchased 9,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were acquired at an average price of $67.57 per share, with a total value of $608,130.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R Halsey Wise purchased 7,600 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were purchased at an average cost of $65.76 per share, for a total transaction of $499,776.00. The disclosure for this purchase can be found here. Insiders have sold 441,468 shares of company stock valued at $30,777,997 over the last quarter. Company insiders own 4.71% of the company’s stock.
Cerner Company Profile
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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