NewSquare Capital LLC bought a new stake in Cerner Co. (NASDAQ:CERN) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 600 shares of the company’s stock, valued at approximately $38,000.
Several other hedge funds have also modified their holdings of the business. S.A. Mason LLC acquired a new stake in shares of Cerner during the 4th quarter valued at $29,000. NWK Group Inc. acquired a new stake in shares of Cerner during the 4th quarter valued at $33,000. Security National Trust Co. acquired a new stake in shares of Cerner during the 4th quarter valued at $34,000. Simon Quick Advisors LLC boosted its holdings in shares of Cerner by 1,440.5% during the 1st quarter. Simon Quick Advisors LLC now owns 647 shares of the company’s stock valued at $41,000 after acquiring an additional 605 shares in the last quarter. Finally, Duncker Streett & Co. Inc. acquired a new stake in shares of Cerner during the 4th quarter valued at $44,000. 83.56% of the stock is currently owned by hedge funds and other institutional investors.
CERN stock opened at $67.28 on Friday. The stock has a 50-day moving average price of $67.68 and a 200-day moving average price of $70.20. Cerner Co. has a 1-year low of $53.08 and a 1-year high of $80.90. The company has a current ratio of 1.93, a quick ratio of 1.90 and a debt-to-equity ratio of 0.35. The firm has a market cap of $20.43 billion, a PE ratio of 41.79, a price-to-earnings-growth ratio of 2.11 and a beta of 0.86.
Cerner (NASDAQ:CERN) last issued its earnings results on Tuesday, April 28th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. Cerner had a return on equity of 18.20% and a net margin of 8.93%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company posted $0.61 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, analysts forecast that Cerner Co. will post 2.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 5th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.07%. Cerner’s payout ratio is 29.88%.
Several research firms recently weighed in on CERN. BidaskClub downgraded Cerner from a “hold” rating to a “sell” rating in a report on Friday, May 15th. Robert W. Baird lifted their target price on Cerner from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Canaccord Genuity reaffirmed a “buy” rating on shares of Cerner in a report on Wednesday, April 29th. JPMorgan Chase & Co. cut their target price on Cerner from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, March 11th. Finally, Stifel Nicolaus cut their target price on Cerner from $81.00 to $75.00 in a report on Wednesday, March 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $78.80.
In related news, CEO David Brent Shafer sold 11,907 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $69.73, for a total value of $830,275.11. Following the completion of the sale, the chief executive officer now directly owns 37,756 shares of the company’s stock, valued at approximately $2,632,725.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.75% of the company’s stock.
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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