Cullinan Associates Inc. raised its holdings in shares of Cerner Co. (NASDAQ:CERN) by 9.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 83,555 shares of the company’s stock after purchasing an additional 7,060 shares during the period. Cullinan Associates Inc.’s holdings in Cerner were worth $5,631,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Cerner by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock valued at $1,947,341,000 after buying an additional 876,919 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Cerner in the 2nd quarter worth $44,524,000. Sawgrass Asset Management LLC bought a new position in Cerner in the 3rd quarter worth $39,946,000. Koch Industries Inc. bought a new position in Cerner in the 2nd quarter worth $310,000. Finally, Commonwealth Bank of Australia raised its holdings in Cerner by 1,362.5% in the 3rd quarter. Commonwealth Bank of Australia now owns 261,011 shares of the company’s stock worth $18,389,000 after purchasing an additional 243,164 shares during the period. Institutional investors and hedge funds own 81.83% of the company’s stock.
A number of equities analysts recently commented on CERN shares. Zacks Investment Research cut Cerner from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Cantor Fitzgerald raised their target price on Cerner to $83.00 and gave the stock an “overweight” rating in a report on Friday, January 5th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Cerner in a report on Wednesday, October 25th. BidaskClub cut Cerner from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Cerner in a report on Wednesday, November 22nd. Sixteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $69.83.
Shares of Cerner Co. (CERN) traded down $0.34 during trading on Wednesday, hitting $70.28. The stock had a trading volume of 1,950,000 shares, compared to its average volume of 1,690,000. The stock has a market capitalization of $23,360.00, a price-to-earnings ratio of 34.97, a price-to-earnings-growth ratio of 2.17 and a beta of 0.94. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11. Cerner Co. has a 52-week low of $50.33 and a 52-week high of $73.86.
Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Cerner had a net margin of 13.37% and a return on equity of 18.03%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. sell-side analysts forecast that Cerner Co. will post 2.24 earnings per share for the current fiscal year.
In other news, CEO Clifford W. Illig sold 140,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $65.52, for a total transaction of $9,172,800.00. Following the completion of the transaction, the chief executive officer now owns 1,229,719 shares in the company, valued at $80,571,188.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Clifford W. Illig sold 530,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $65.54, for a total value of $34,736,200.00. Following the transaction, the chairman now owns 1,229,719 shares of the company’s stock, valued at approximately $80,595,783.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 788,000 shares of company stock valued at $52,190,800. Company insiders own 13.11% of the company’s stock.
Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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