The Manufacturers Life Insurance Company reduced its holdings in Cerner Co. (NASDAQ:CERN) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 322,079 shares of the company’s stock after selling 5,209 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of Cerner worth $23,283,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CERN. RTW Investments LP acquired a new stake in Cerner in the 2nd quarter valued at $81,054,000. BlackRock Inc. increased its stake in Cerner by 4.0% in the 3rd quarter. BlackRock Inc. now owns 24,859,804 shares of the company’s stock valued at $1,797,114,000 after buying an additional 959,533 shares during the last quarter. Nordea Investment Management AB increased its stake in Cerner by 107.4% in the 2nd quarter. Nordea Investment Management AB now owns 1,349,906 shares of the company’s stock valued at $91,524,000 after buying an additional 698,933 shares during the last quarter. Morgan Stanley increased its stake in Cerner by 31.2% in the 1st quarter. Morgan Stanley now owns 2,868,059 shares of the company’s stock valued at $180,660,000 after buying an additional 682,655 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Cerner by 3,781.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 555,620 shares of the company’s stock valued at $38,087,000 after buying an additional 541,304 shares during the last quarter. Hedge funds and other institutional investors own 72.19% of the company’s stock.
In other Cerner news, Director George Andrew Riedel sold 1,750 shares of Cerner stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $75.69, for a total value of $132,457.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Peterzalek sold 1,100 shares of Cerner stock in a transaction dated Monday, November 16th. The stock was sold at an average price of $76.04, for a total transaction of $83,644.00. The disclosure for this sale can be found here. Insiders sold a total of 66,486 shares of company stock valued at $5,047,431 in the last quarter. Corporate insiders own 0.33% of the company’s stock.
Shares of CERN stock opened at $73.25 on Friday. The company has a market capitalization of $22.46 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 2.80 and a beta of 0.76. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.28 and a current ratio of 2.29. The company has a 50-day simple moving average of $72.89 and a 200 day simple moving average of $70.97. Cerner Co. has a 52 week low of $53.08 and a 52 week high of $80.90.
Cerner (NASDAQ:CERN) last announced its earnings results on Wednesday, October 28th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.62 by $0.10. Cerner had a net margin of 14.28% and a return on equity of 18.14%. Sell-side analysts forecast that Cerner Co. will post 2.47 EPS for the current year.
Several brokerages have issued reports on CERN. Wells Fargo & Company lifted their price target on shares of Cerner from $81.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Jefferies Financial Group reissued a “buy” rating and issued a $88.00 price objective on shares of Cerner in a research report on Tuesday, August 11th. Morgan Stanley lifted their price objective on shares of Cerner from $58.00 to $62.00 and gave the company an “underweight” rating in a research report on Friday, July 31st. Zacks Investment Research downgraded shares of Cerner from a “buy” rating to a “hold” rating and set a $72.00 price objective for the company. in a research report on Tuesday, August 4th. Finally, Piper Sandler lifted their price objective on shares of Cerner from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $77.33.
Cerner Company Profile
Cerner Corporation, together with its subsidiaries, 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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