Reinhart Partners Inc. decreased its position in Cerner Co. (NASDAQ:CERN) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,638 shares of the company’s stock after selling 4,429 shares during the quarter. Reinhart Partners Inc.’s holdings in Cerner were worth $12,723,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Berman Capital Advisors LLC boosted its stake in shares of Cerner by 115.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 381 shares of the company’s stock valued at $27,000 after purchasing an additional 204 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of 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 last quarter. Altshuler Shaham Ltd grew its holdings in shares of 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 last quarter. Enterprise Financial Services Corp grew its holdings in shares of 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 last quarter. Finally, CSat Investment Advisory L.P. boosted its holdings in Cerner by 119.7% in the second quarter. CSat Investment Advisory L.P. now owns 637 shares of the company’s stock valued at $47,000 after acquiring an additional 347 shares during the last quarter. 83.82% of the stock is currently owned by institutional investors.
In other Cerner news, CFO Marc G. Naughton sold 24,110 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $67.58, for a total value of $1,629,353.80. Following the sale, the chief financial officer now owns 84,898 shares of the company’s stock, valued at approximately $5,737,406.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jeffrey A. Townsend sold 199,432 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $66.46, for a total value of $13,254,250.72. Following the completion of the sale, the vice president now directly owns 59,432 shares in the company, valued at approximately $3,949,850.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 344,268 shares of company stock valued at $23,243,010. 0.75% of the stock is owned by corporate insiders.
Several analysts recently commented on the company. Deutsche Bank assumed coverage on Cerner in a report on Thursday, September 26th. They issued a “buy” rating and a $82.00 target price on the stock. Bank of America set a $83.00 target price on Cerner and gave the stock a “buy” rating in a research report on Friday, October 25th. KeyCorp reaffirmed an “overweight” rating and set a $82.00 target price (up from $76.00) on shares of Cerner in a research report on Friday, August 16th. Canaccord Genuity upped their target price on Cerner from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Zacks Investment Research lowered Cerner from a “buy” rating to a “hold” rating and set a $77.00 target price on the stock. in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $76.73.
NASDAQ CERN traded up $0.48 on Friday, reaching $67.31. The company had a trading volume of 1,536,400 shares, compared to its average volume of 2,301,805. Cerner Co. has a 52-week low of $48.78 and a 52-week high of $76.47. The company’s fifty day moving average is $67.42 and its 200 day moving average is $69.69. 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 stock has a market capitalization of $21.11 billion, a P/E ratio of 30.46, a P/E/G ratio of 2.11 and a beta of 0.92.
Cerner (NASDAQ:CERN) last issued its earnings results on Thursday, October 24th. The company reported $0.66 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 business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, research analysts expect that Cerner Co. will post 2.41 EPS for the current year.
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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