Schwab Charles Investment Management Inc. lifted its holdings in shares of Cerner (NASDAQ:CERN) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,132,343 shares of the company’s stock after purchasing an additional 44,742 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.34% of Cerner worth $65,676,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Icon Wealth Partners LLC purchased a new position in shares of Cerner during the fourth quarter worth about $107,000. Cerebellum GP LLC purchased a new position in shares of Cerner during the fourth quarter worth about $127,000. Delpha Capital Management LLC purchased a new position in shares of Cerner during the fourth quarter worth about $144,000. Virtue Capital Management LLC purchased a new position in shares of Cerner during the fourth quarter worth about $197,000. Finally, Cedar Hill Associates LLC purchased a new position in shares of Cerner during the fourth quarter worth about $200,000. 79.92% of the stock is owned by institutional investors.
NASDAQ:CERN opened at $60.62 on Friday. The company has a market capitalization of $19.90 billion, a P/E ratio of 27.64, a PEG ratio of 1.89 and a beta of 0.96. Cerner has a 1-year low of $58.26 and a 1-year high of $59.61. The company has a quick ratio of 2.93, a current ratio of 2.95 and a debt-to-equity ratio of 0.09.
In other Cerner news, Vice Chairman Clifford W. Illig sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $58.32, for a total value of $174,960.00. Following the completion of the sale, the insider now owns 1,229,719 shares in the company, valued at $71,717,212.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Clifford W. Illig sold 307,700 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $64.52, for a total value of $19,852,804.00. Following the completion of the sale, the insider now owns 1,229,719 shares of the company’s stock, valued at approximately $79,341,469.88. The disclosure for this sale can be found here. Insiders own 4.71% of the company’s stock.
Several research analysts have recently commented on CERN shares. Cantor Fitzgerald reissued a “buy” rating and set a $80.00 price objective on shares of Cerner in a report on Monday, March 5th. Wells Fargo set a $75.00 price objective on Cerner and gave the stock a “buy” rating in a report on Saturday, March 31st. Bank of America started coverage on Cerner in a report on Tuesday, February 27th. They set a “buy” rating and a $75.00 price objective for the company. Zacks Investment Research lowered Cerner from a “hold” rating to a “sell” rating in a report on Tuesday, May 8th. Finally, BidaskClub lowered Cerner from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $69.16.
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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