Global Thematic Partners LLC lifted its stake in Cerner Co. (NASDAQ:CERN) by 1.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 607,949 shares of the company’s stock after purchasing an additional 8,515 shares during the quarter. Cerner accounts for 1.6% of Global Thematic Partners LLC’s portfolio, making the stock its 28th largest position. Global Thematic Partners LLC owned about 0.19% of Cerner worth $34,780,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of CERN. Essex Savings Bank acquired a new position in Cerner during the fourth quarter valued at approximately $27,000. Moody National Bank Trust Division grew its holdings in Cerner by 72.5% during the first quarter. Moody National Bank Trust Division now owns 483 shares of the company’s stock valued at $28,000 after purchasing an additional 203 shares during the last quarter. JNBA Financial Advisors acquired a new position in Cerner during the fourth quarter valued at approximately $34,000. Financial Gravity Companies Inc. acquired a new position in Cerner during the fourth quarter valued at approximately $44,000. Finally, Lindbrook Capital LLC acquired a new position in Cerner during the fourth quarter valued at approximately $62,000. 80.82% of the stock is owned by institutional investors and hedge funds.
Shares of Cerner stock traded down $1.51 during midday trading on Thursday, hitting $62.20. The company had a trading volume of 3,295,771 shares, compared to its average volume of 2,453,587. The company has a market cap of $20.43 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.08 and a beta of 0.97. The company has a current ratio of 2.41, a quick ratio of 2.38 and a debt-to-equity ratio of 0.09. Cerner Co. has a 1-year low of $48.78 and a 1-year high of $67.57.
CERN has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of Cerner from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. Barclays restated a “hold” rating and issued a $68.00 price objective on shares of Cerner in a research note on Wednesday. Citigroup set a $77.00 price objective on shares of Cerner and gave the stock a “buy” rating in a research note on Wednesday. BidaskClub downgraded shares of Cerner from a “hold” rating to a “sell” rating in a research note on Tuesday, January 22nd. Finally, Morgan Stanley downgraded shares of Cerner from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $68.00 to $47.00 in a research note on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Cerner presently has a consensus rating of “Buy” and an average price target of $68.67.
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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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