Sterling Capital Management LLC increased its holdings in Cerner Co. (NASDAQ:CERN) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 774,431 shares of the company’s stock after buying an additional 19,631 shares during the period. Sterling Capital Management LLC owned about 0.23% of Cerner worth $52,189,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in CERN. BlackRock Inc. raised its stake in Cerner by 2.2% in the 4th quarter. BlackRock Inc. now owns 19,519,304 shares of the company’s stock valued at $1,315,406,000 after purchasing an additional 420,942 shares during the last quarter. Capital International Investors raised its stake in Cerner by 0.3% in the 3rd quarter. Capital International Investors now owns 4,851,296 shares of the company’s stock valued at $345,994,000 after purchasing an additional 12,178 shares during the last quarter. Geode Capital Management LLC raised its stake in Cerner by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,759,894 shares of the company’s stock valued at $252,916,000 after purchasing an additional 98,444 shares during the last quarter. American Century Companies Inc. raised its stake in Cerner by 3.7% in the 4th quarter. American Century Companies Inc. now owns 3,204,461 shares of the company’s stock valued at $215,949,000 after purchasing an additional 114,224 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Cerner by 1.8% in the 3rd quarter. Legal & General Group Plc now owns 1,477,451 shares of the company’s stock valued at $105,371,000 after purchasing an additional 25,842 shares during the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.
CERN has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Cerner from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Cantor Fitzgerald reissued a “buy” rating and issued a $80.00 target price on shares of Cerner in a research note on Wednesday, March 14th. Evercore ISI initiated coverage on shares of Cerner in a research note on Thursday, January 18th. They issued an “in-line” rating and a $77.00 target price for the company. BidaskClub downgraded shares of Cerner from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $76.00 target price on shares of Cerner in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. Cerner presently has a consensus rating of “Hold” and an average price target of $67.50.
In other Cerner news, Vice Chairman Clifford W. Illig sold 307,700 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $64.52, for a total value of $19,852,804.00. Following the completion of the transaction, the insider now owns 1,229,719 shares in the company, valued at approximately $79,341,469.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jeffrey A. Townsend sold 230,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $61.94, for a total value of $14,246,200.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 541,800 shares of company stock valued at $34,353,860. Corporate insiders own 13.11% of the company’s stock.
Shares of Cerner Co. (NASDAQ:CERN) opened at $60.39 on Tuesday. The stock has a market cap of $20,374.91, a P/E ratio of 23.50, a P/E/G ratio of 1.78 and a beta of 0.93. Cerner Co. has a 1 year low of $56.17 and a 1 year high of $73.86. The company has a current ratio of 3.01, a quick ratio of 2.99 and a debt-to-equity ratio of 0.11.
Cerner (NASDAQ:CERN) last posted its earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.03). The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.33 billion. Cerner had a return on equity of 16.82% and a net margin of 16.86%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.61 EPS. analysts expect that Cerner Co. will post 2.42 earnings per share for the current year.
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Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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