Northern Trust Corp increased its holdings in shares of Cerner Co. (NASDAQ:CERN) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,435,234 shares of the company’s stock after acquiring an additional 19,829 shares during the period. Northern Trust Corp owned about 1.04% of Cerner worth $205,392,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Resources Investment Advisors Inc. grew its position in Cerner by 25.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 58,793 shares of the company’s stock worth $3,410,000 after acquiring an additional 11,742 shares during the last quarter. CIBC Asset Management Inc grew its position in Cerner by 5.1% during the 2nd quarter. CIBC Asset Management Inc now owns 44,151 shares of the company’s stock worth $2,640,000 after acquiring an additional 2,149 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Cerner during the 2nd quarter worth approximately $907,000. Advisors Capital Management LLC bought a new stake in Cerner during the 2nd quarter worth approximately $3,359,000. Finally, Morgan Stanley grew its position in Cerner by 39.1% during the 2nd quarter. Morgan Stanley now owns 2,552,434 shares of the company’s stock worth $152,610,000 after acquiring an additional 717,218 shares during the last quarter. Institutional investors and hedge funds own 76.03% of the company’s stock.
NASDAQ:CERN opened at $64.19 on Thursday. Cerner Co. has a 52-week low of $52.05 and a 52-week high of $73.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.83 and a current ratio of 2.85. The firm has a market cap of $21.05 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.03 and a beta of 0.97.
Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.33 billion. Cerner had a return on equity of 15.26% and a net margin of 16.06%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. analysts expect that Cerner Co. will post 2.28 earnings per share for the current year.
CERN has been the topic of a number of research analyst reports. BidaskClub upgraded Cerner from a “sell” rating to a “hold” rating in a research report on Thursday, May 31st. Jefferies Financial Group set a $70.00 price objective on Cerner and gave the stock a “buy” rating in a report on Friday, June 1st. Wells Fargo & Co set a $73.00 price objective on Cerner and gave the stock a “buy” rating in a report on Wednesday, June 6th. ValuEngine raised Cerner from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Finally, Zacks Investment Research raised Cerner from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. Cerner currently has an average rating of “Hold” and an average target price of $71.71.
In other news, Vice Chairman Clifford W. Illig sold 378,900 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $66.46, for a total value of $25,181,694.00. Following the transaction, the insider now owns 1,229,719 shares of the company’s stock, valued at approximately $81,727,124.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Zane M. Burke sold 381,139 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $64.05, for a total value of $24,411,952.95. Following the completion of the transaction, the president now directly owns 59,539 shares in the company, valued at approximately $3,813,472.95. The disclosure for this sale can be found here. In the last three months, insiders sold 1,270,870 shares of company stock worth $82,486,031. 4.71% of the stock is currently owned by company insiders.
Cerner Company Profile
Cerner Corporation provides health care information technology solutions and 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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