Reinhart Partners Inc. Has $12.72 Million Stock Position in Cerner Co. (NASDAQ:CERN)

Reinhart Partners Inc. lowered its position in shares of Cerner Co. (NASDAQ:CERN) by 2.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 186,638 shares of the company’s stock after selling 4,429 shares during the quarter. Reinhart Partners Inc. owned about 0.06% of Cerner worth $12,723,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Pensionfund DSM Netherlands bought a new stake in Cerner during the 2nd quarter worth about $2,492,000. Pensionfund Sabic bought a new position in shares of Cerner during the 2nd quarter worth approximately $1,613,000. Rockland Trust Co. boosted its holdings in shares of Cerner by 0.6% during the 2nd quarter. Rockland Trust Co. now owns 166,458 shares of the company’s stock worth $12,201,000 after buying an additional 1,071 shares in the last quarter. DNB Asset Management AS boosted its holdings in shares of Cerner by 4.2% during the 2nd quarter. DNB Asset Management AS now owns 172,283 shares of the company’s stock worth $12,628,000 after buying an additional 6,977 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Cerner during the 2nd quarter worth approximately $384,000. 83.82% of the stock is owned by institutional investors.

A number of research firms have issued reports on CERN. Piper Jaffray Companies set a $78.00 price target on Cerner and gave the stock a “buy” rating in a report on Friday, October 25th. Morgan Stanley increased their price target on Cerner from $49.00 to $62.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Wells Fargo & Co increased their price target on Cerner from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Barclays set a $70.00 price target on Cerner and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Canaccord Genuity increased their price target on Cerner from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $76.73.

In other Cerner news, VP Jeffrey A. Townsend sold 199,432 shares of Cerner stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $66.46, for a total transaction of $13,254,250.72. Following the completion of the transaction, the vice president now owns 59,432 shares in the company, valued at approximately $3,949,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Peterzalek sold 42,767 shares of Cerner stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $68.33, for a total value of $2,922,269.11. The disclosure for this sale can be found here. Insiders sold a total of 344,268 shares of company stock valued at $23,243,010 in the last 90 days. 0.75% of the stock is currently owned by company insiders.

NASDAQ CERN traded up $0.48 during trading hours on Friday, hitting $67.31. The company had a trading volume of 1,536,400 shares, compared to its average volume of 2,301,805. The firm has a market capitalization of $21.11 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 2.11 and a beta of 0.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.19 and a current ratio of 2.21. The firm has a 50 day simple moving average of $67.42 and a 200 day simple moving average of $69.69. Cerner Co. has a 52 week low of $48.78 and a 52 week high of $76.47.

Cerner (NASDAQ:CERN) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.66 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.66. Cerner had a return on equity of 15.61% and a net margin of 9.02%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, research analysts forecast that Cerner Co. will post 2.41 earnings per share for the current year.

Cerner Profile

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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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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