Kentucky Retirement Systems purchased a new position in shares of Cerner Co. (NASDAQ:CERN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 21,925 shares of the company’s stock, valued at approximately $1,039,000.
Other hedge funds have also modified their holdings of the company. Riverbridge Partners LLC increased its stake in shares of Cerner by 2.8% in the third quarter. Riverbridge Partners LLC now owns 342,811 shares of the company’s stock worth $21,169,000 after buying an additional 9,432 shares during the period. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of Cerner during the third quarter worth $760,000. Trust Co. of Vermont boosted its position in shares of Cerner by 530.3% in the third quarter. Trust Co. of Vermont now owns 4,160 shares of the company’s stock worth $257,000 after buying an additional 3,500 shares in the last quarter. Agran Libbie purchased a new position in shares of Cerner during the third quarter worth $214,000. Finally, Nationwide Fund Advisors boosted its position in shares of Cerner by 9.1% in the third quarter. Nationwide Fund Advisors now owns 478,732 shares of the company’s stock worth $29,562,000 after buying an additional 39,869 shares in the last quarter. Hedge funds and other institutional investors own 80.58% of the company’s stock.
Shares of Cerner Co. (NASDAQ:CERN) traded up 1.04% during midday trading on Thursday, hitting $59.28. The stock had a trading volume of 538,498 shares. The firm has a market cap of $19.55 billion, a price-to-earnings ratio of 32.04 and a beta of 1.05. Cerner Co. has a 52-week low of $47.01 and a 52-week high of $67.50. The firm’s 50 day moving average price is $57.39 and its 200 day moving average price is $54.04.
Cerner (NASDAQ:CERN) last posted its earnings results on Thursday, February 9th. The company reported $0.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.26 billion. Cerner had a net margin of 13.27% and a return on equity of 18.16%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. On average, equities research analysts expect that Cerner Co. will post $2.50 earnings per share for the current year.
A number of equities analysts have commented on the company. TheStreet raised Cerner from a “c+” rating to a “b-” rating in a research note on Monday, April 3rd. Zacks Investment Research cut Cerner from a “hold” rating to a “sell” rating in a research note on Monday, April 3rd. Citigroup Inc cut Cerner from a “buy” rating to a “neutral” rating in a research note on Friday, February 24th. They noted that the move was a valuation call. Cantor Fitzgerald reissued an “overweight” rating and set a $66.00 target price on shares of Cerner in a research note on Wednesday, February 22nd. Finally, Stifel Nicolaus boosted their target price on Cerner from $56.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, February 22nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $62.15.
In related news, Chairman Neal L. Patterson sold 20,000 shares of Cerner stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $54.91, for a total transaction of $1,098,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jeffrey A. Townsend sold 100,000 shares of Cerner stock in a transaction on Monday, February 13th. The shares were sold at an average price of $52.31, for a total transaction of $5,231,000.00. The disclosure for this sale can be found here. Insiders own 13.20% of the company’s stock.
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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