Northcape Capital Pty Ltd boosted its holdings in shares of Cerner Co. (NASDAQ:CERN) by 13.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,235 shares of the company’s stock after acquiring an additional 4,852 shares during the quarter. Cerner accounts for 0.4% of Northcape Capital Pty Ltd’s portfolio, making the stock its 14th biggest holding. Northcape Capital Pty Ltd’s holdings in Cerner were worth $3,081,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Cerner by 4.0% during the 3rd quarter. BlackRock Inc. now owns 24,859,804 shares of the company’s stock worth $1,797,114,000 after purchasing an additional 959,533 shares during the period. Bank of New York Mellon Corp boosted its holdings in Cerner by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,691,468 shares of the company’s stock worth $1,007,099,000 after acquiring an additional 188,613 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Cerner by 31.2% in the 1st quarter. Morgan Stanley now owns 2,868,059 shares of the company’s stock worth $180,660,000 after buying an additional 682,655 shares during the last quarter. Veritas Investment Management LLP lifted its holdings in Cerner by 5.6% during the third quarter. Veritas Investment Management LLP now owns 1,737,900 shares of the company’s stock valued at $125,589,000 after purchasing an additional 92,570 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Cerner by 2.3% during the third quarter. California Public Employees Retirement System now owns 1,682,306 shares of the company’s stock valued at $121,614,000 after purchasing an additional 38,028 shares during the last quarter. Institutional investors own 72.19% of the company’s stock.
In other news, Director George Andrew Riedel sold 1,750 shares of the firm’s stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $75.69, for a total value of $132,457.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John Peterzalek sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $76.04, for a total transaction of $83,644.00. The disclosure for this sale can be found here. Insiders sold 66,486 shares of company stock worth $5,047,431 over the last three months. Insiders own 0.33% of the company’s stock.
Shares of NASDAQ:CERN opened at $74.10 on Monday. Cerner Co. has a 52 week low of $53.08 and a 52 week high of $80.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.28 and a current ratio of 2.29. The company has a market capitalization of $22.72 billion, a PE ratio of 28.95, a PEG ratio of 2.76 and a beta of 0.76. The company has a 50 day moving average price of $73.18 and a two-hundred day moving average price of $71.18.
Cerner (NASDAQ:CERN) last issued its earnings results on Wednesday, October 28th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.10. Cerner had a net margin of 14.28% and a return on equity of 18.14%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. On average, sell-side analysts forecast that Cerner Co. will post 2.47 earnings per share for the current year.
CERN has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on Cerner from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Zacks Investment Research lowered Cerner from a “buy” rating to a “hold” rating and set a $72.00 price objective on the stock. in a report on Tuesday, August 4th. Piper Sandler increased their price objective on Cerner from $81.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Jefferies Financial Group restated a “buy” rating and issued a $88.00 target price on shares of Cerner in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company increased their price target on Cerner from $81.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $77.33.
Cerner Company Profile
Cerner Corporation, together with its subsidiaries, 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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