Tyers Asset Management LLC boosted its stake in Cerner Co. (NASDAQ:CERN) by 323.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,616 shares of the company’s stock after buying an additional 19,568 shares during the period. Tyers Asset Management LLC’s holdings in Cerner were worth $1,507,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of CERN. Advantage Investment Management LLC purchased a new position in shares of Cerner during the fourth quarter worth about $103,000. Parallel Advisors LLC purchased a new position in shares of Cerner during the fourth quarter worth about $115,000. Hall Laurie J Trustee purchased a new position in shares of Cerner during the fourth quarter worth about $119,000. Fuller & Thaler Asset Management Inc. bought a new position in Cerner during the third quarter valued at about $124,000. Finally, Blenheim Capital Management BV bought a new position in Cerner during the fourth quarter valued at about $126,000. 80.58% of the stock is currently owned by institutional investors.
Cerner Co. (NASDAQ:CERN) traded up 0.66% during mid-day trading on Friday, hitting $64.24. The stock had a trading volume of 1,855,512 shares. The firm’s 50-day moving average price is $61.47 and its 200 day moving average price is $54.51. Cerner Co. has a one year low of $47.01 and a one year high of $67.50. The company has a market cap of $21.23 billion, a PE ratio of 33.11 and a beta of 1.05.
Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, April 27th. The company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.06. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Cerner had a return on equity of 18.16% and a net margin of 13.27%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, equities research analysts anticipate that Cerner Co. will post $2.51 EPS for the current year.
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CERN has been the topic of several research analyst reports. TheStreet upgraded shares of Cerner from a “c+” rating to a “b-” rating in a research note on Monday, April 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $63.00 price objective on shares of Cerner in a research note on Tuesday, February 14th. Cantor Fitzgerald reiterated a “buy” rating and issued a $66.00 price objective on shares of Cerner in a research note on Friday, February 10th. Canaccord Genuity reiterated a “buy” rating and issued a $59.00 price objective on shares of Cerner in a research note on Friday, February 10th. Finally, Barclays PLC cut shares of Cerner from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $63.00 to $52.00 in a research note on Thursday, January 19th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. Cerner has an average rating of “Hold” and an average price target of $64.33.
In related news, Chairman Neal L. Patterson sold 43,000 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $64.33, for a total value of $2,766,190.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Neal L. Patterson sold 20,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $54.91, for a total value of $1,098,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 593,742 shares of company stock worth $38,057,902. 13.20% of the stock is currently owned by insiders.
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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