Cerner Co. (CERN) Holdings Cut by Kanawha Capital Management LLC

Kanawha Capital Management LLC lessened its position in Cerner Co. (NASDAQ:CERN) by 9.1% during the first quarter, Holdings Channel reports. The fund owned 33,760 shares of the company’s stock after selling 3,370 shares during the period. Kanawha Capital Management LLC’s holdings in Cerner were worth $1,931,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CERN. Oregon Public Employees Retirement Fund grew its holdings in Cerner by 4,852.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,597,804 shares of the company’s stock worth $69,000 after acquiring an additional 3,525,157 shares during the last quarter. Norges Bank purchased a new stake in shares of Cerner in the 4th quarter worth about $155,781,000. Parnassus Investments CA lifted its position in shares of Cerner by 36.5% in the 4th quarter. Parnassus Investments CA now owns 9,829,823 shares of the company’s stock worth $515,476,000 after purchasing an additional 2,626,045 shares during the period. BlackRock Inc. lifted its position in shares of Cerner by 5.4% in the 4th quarter. BlackRock Inc. now owns 22,078,769 shares of the company’s stock worth $1,157,811,000 after purchasing an additional 1,122,165 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd lifted its position in shares of Cerner by 57.6% in the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,643,785 shares of the company’s stock worth $138,640,000 after purchasing an additional 966,603 shares during the period. 80.81% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on the stock. Robert W. Baird raised their target price on shares of Cerner from $67.00 to $71.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley set a $49.00 target price on shares of Cerner and gave the stock a “sell” rating in a research report on Wednesday, April 10th. SunTrust Banks raised shares of Cerner from a “hold” rating to a “buy” rating and raised their target price for the stock from $60.00 to $76.00 in a research report on Wednesday, April 10th. Citigroup set a $77.00 target price on shares of Cerner and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Barclays reaffirmed a “hold” rating and issued a $68.00 target price on shares of Cerner in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Cerner currently has an average rating of “Buy” and an average price target of $68.67.

NASDAQ CERN traded up $1.06 during trading hours on Tuesday, reaching $63.73. 1,280,140 shares of the company’s stock traded hands, compared to its average volume of 2,463,652. Cerner Co. has a 52-week low of $48.78 and a 52-week high of $67.57. The stock has a market cap of $20.69 billion, a P/E ratio of 28.84, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.41 and a quick ratio of 2.38.

Cerner (NASDAQ:CERN) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. Cerner had a net margin of 11.74% and a return on equity of 14.84%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the company posted $0.58 EPS. Cerner’s revenue was up 3.9% on a year-over-year basis. Research analysts expect that Cerner Co. will post 2.39 earnings per share for the current fiscal year.

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Cerner 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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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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