First Interstate Bank lifted its position in Cerner Co. (NASDAQ:CERN) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,481 shares of the company’s stock after buying an additional 736 shares during the quarter. First Interstate Bank’s holdings in Cerner were worth $550,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in CERN. Schroder Investment Management Group increased its position in shares of Cerner by 1.6% during the second quarter. Schroder Investment Management Group now owns 512,588 shares of the company’s stock worth $30,632,000 after acquiring an additional 8,300 shares during the last quarter. We Are One Seven LLC purchased a new stake in shares of Cerner during the third quarter worth about $351,000. State of Alaska Department of Revenue increased its position in shares of Cerner by 2.1% during the third quarter. State of Alaska Department of Revenue now owns 55,469 shares of the company’s stock worth $3,570,000 after acquiring an additional 1,124 shares during the last quarter. Trust Department MB Financial Bank N A increased its position in shares of Cerner by 1.1% during the third quarter. Trust Department MB Financial Bank N A now owns 111,902 shares of the company’s stock worth $7,207,000 after acquiring an additional 1,210 shares during the last quarter. Finally, DNB Asset Management AS increased its position in shares of Cerner by 11.8% during the third quarter. DNB Asset Management AS now owns 204,368 shares of the company’s stock worth $13,163,000 after acquiring an additional 21,600 shares during the last quarter. 77.74% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:CERN opened at $54.91 on Friday. The stock has a market capitalization of $17.95 billion, a P/E ratio of 24.96, a PEG ratio of 1.63 and a beta of 0.98. Cerner Co. has a one year low of $48.78 and a one year high of $69.78. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.63 and a quick ratio of 2.60.
CERN has been the topic of a number of analyst reports. Zacks Investment Research lowered Cerner from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Barclays dropped their target price on Cerner from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday, October 26th. BidaskClub raised Cerner from a “sell” rating to a “hold” rating in a research report on Wednesday. Leerink Swann raised Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research report on Monday, October 29th. Finally, Morgan Stanley decreased their price target on Cerner from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Monday, December 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $69.42.
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Cerner Company Profile
Cerner Corporation provides health care information technology solutions and 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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