CIBC World Markets Inc. increased its position in Cerner Co. (NASDAQ:CERN) by 54.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,153 shares of the company’s stock after purchasing an additional 8,867 shares during the period. CIBC World Markets Inc.’s holdings in Cerner were worth $1,620,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Wealth Management LLC acquired a new stake in Cerner in the second quarter valued at about $968,000. Janney Montgomery Scott LLC lifted its position in Cerner by 5.2% in the second quarter. Janney Montgomery Scott LLC now owns 28,329 shares of the company’s stock valued at $1,694,000 after purchasing an additional 1,400 shares during the period. TD Asset Management Inc. lifted its position in Cerner by 16.8% in the second quarter. TD Asset Management Inc. now owns 242,508 shares of the company’s stock valued at $14,500,000 after purchasing an additional 34,794 shares during the period. CWM LLC lifted its position in Cerner by 880.5% in the second quarter. CWM LLC now owns 2,510 shares of the company’s stock valued at $150,000 after purchasing an additional 2,254 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Cerner by 6.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 915,983 shares of the company’s stock valued at $54,767,000 after purchasing an additional 54,528 shares during the period. Institutional investors own 77.14% of the company’s stock.
Shares of CERN opened at $57.91 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.63 and a quick ratio of 2.60. Cerner Co. has a 1-year low of $50.91 and a 1-year high of $73.43. The company has a market cap of $19.08 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96.
Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, October 25th. The company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.01). Cerner had a return on equity of 14.73% and a net margin of 15.72%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.36 billion. As a group, sell-side analysts expect that Cerner Co. will post 2.22 earnings per share for the current fiscal year.
In other news, President Zane M. Burke sold 283,539 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $63.68, for a total transaction of $18,055,763.52. Following the completion of the transaction, the president now directly owns 59,539 shares of the company’s stock, valued at approximately $3,791,443.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Zane M. Burke sold 381,139 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $64.05, for a total transaction of $24,411,952.95. Following the transaction, the president now directly owns 59,539 shares of the company’s stock, valued at $3,813,472.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 919,678 shares of company stock valued at $57,136,166. Corporate insiders own 4.71% of the company’s stock.
CERN has been the subject of a number of research analyst reports. Royal Bank of Canada cut shares of Cerner from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $72.00 to $54.00 in a report on Friday, October 26th. Zacks Investment Research cut shares of Cerner from a “hold” rating to a “sell” rating in a report on Monday, October 8th. BidaskClub cut shares of Cerner from a “hold” rating to a “sell” rating in a report on Friday, August 31st. Leerink Swann raised shares of Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a report on Monday, October 29th. Finally, Barclays initiated coverage on shares of Cerner in a report on Thursday, September 13th. They issued an “equal weight” rating and a $70.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $69.98.
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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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