Miles Capital Inc. decreased its holdings in shares of Cerner Co. (NASDAQ:CERN) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,130 shares of the company’s stock after selling 1,430 shares during the quarter. Miles Capital Inc.’s holdings in Cerner were worth $964,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of CERN. Smith Asset Management Group LP acquired a new position in shares of Cerner during the 2nd quarter valued at about $18,104,000. Private Advisor Group LLC boosted its position in Cerner by 60.7% during the second quarter. Private Advisor Group LLC now owns 7,620 shares of the company’s stock worth $559,000 after purchasing an additional 2,879 shares during the period. Putnam Investments LLC bought a new stake in Cerner during the second quarter worth approximately $234,000. Morgan Stanley grew its holdings in Cerner by 2.7% during the second quarter. Morgan Stanley now owns 2,058,988 shares of the company’s stock valued at $150,923,000 after purchasing an additional 53,624 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in Cerner by 95.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 349,803 shares of the company’s stock valued at $25,641,000 after purchasing an additional 170,389 shares during the last quarter. Institutional investors and hedge funds own 81.69% of the company’s stock.
A number of brokerages have recently weighed in on CERN. BidaskClub upgraded shares of Cerner from a “sell” rating to a “hold” rating in a research note on Friday. Wells Fargo & Co raised their target price on shares of Cerner from $80.00 to $83.50 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Bank of America set a $83.00 target price on shares of Cerner and gave the stock a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada initiated coverage on shares of Cerner in a research report on Wednesday, November 27th. They set an “outperform” rating and a $80.00 target price for the company. Finally, Cowen set a $66.00 price target on shares of Cerner and gave the company a “hold” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $77.79.
In other Cerner news, CAO Michael R. Battaglioli sold 10,000 shares of Cerner stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.06, for a total transaction of $720,600.00. Following the sale, the chief accounting officer now owns 6,226 shares in the company, valued at $448,645.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Nill sold 81,772 shares of Cerner stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $68.59, for a total transaction of $5,608,741.48. In the last ninety days, insiders sold 121,437 shares of company stock valued at $8,426,657. Insiders own 0.75% of the company’s stock.
NASDAQ CERN traded up $0.02 during midday trading on Tuesday, hitting $75.88. The company had a trading volume of 311,340 shares, compared to its average volume of 1,207,369. The firm has a fifty day simple moving average of $73.03 and a two-hundred day simple moving average of $70.44. Cerner Co. has a fifty-two week low of $52.66 and a fifty-two week high of $76.47. The company has a quick ratio of 2.19, a current ratio of 2.21 and a debt-to-equity ratio of 0.24. The stock has a market cap of $23.83 billion, a price-to-earnings ratio of 48.64, a P/E/G ratio of 1.95 and a beta of 0.93.
Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.66 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.66. Cerner had a net margin of 9.02% and a return on equity of 15.61%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, equities analysts predict that Cerner Co. will post 2.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Friday, December 27th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, December 26th. This represents a $0.72 annualized dividend and a yield of 0.95%. Cerner’s dividend payout ratio is 32.58%.
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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