Nomura Asset Management Co. Ltd. boosted its holdings in Cerner Co. (NASDAQ:CERN) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,398 shares of the company’s stock after purchasing an additional 1,698 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Cerner were worth $2,633,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Icon Wealth Partners LLC acquired a new position in Cerner in the fourth quarter valued at $107,000. MV Capital Management Inc. acquired a new position in Cerner in the first quarter valued at $116,000. Delpha Capital Management LLC acquired a new position in Cerner in the fourth quarter valued at $144,000. Archford Capital Strategies LLC acquired a new position in Cerner in the first quarter valued at $181,000. Finally, Virtue Capital Management LLC acquired a new position in Cerner in the fourth quarter valued at $197,000. Hedge funds and other institutional investors own 78.27% of the company’s stock.
In other news, Director William D. Zollars sold 3,900 shares of the company’s stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $60.80, for a total value of $237,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Clifford W. Illig sold 45,000 shares of the company’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $60.63, for a total value of $2,728,350.00. Following the completion of the sale, the insider now directly owns 1,229,719 shares of the company’s stock, valued at approximately $74,557,862.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,848 shares of company stock valued at $16,650,169. 4.71% of the stock is owned by company insiders.
Cerner (NASDAQ:CERN) last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.58. Cerner had a return on equity of 15.80% and a net margin of 16.50%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. research analysts anticipate that Cerner Co. will post 2.28 earnings per share for the current year.
Several equities analysts recently commented on CERN shares. Wells Fargo & Co set a $75.00 target price on Cerner and gave the company a “buy” rating in a research note on Saturday, March 31st. Cantor Fitzgerald reiterated a “buy” rating and issued a $80.00 target price on shares of Cerner in a research note on Monday, March 5th. BidaskClub lowered Cerner from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 15th. Royal Bank of Canada reiterated a “buy” rating and issued a $67.00 target price on shares of Cerner in a research note on Tuesday, April 3rd. Finally, Bank of America started coverage on Cerner in a research note on Tuesday, February 27th. They issued a “buy” rating and a $75.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $68.51.
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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