Pacer Advisors Inc. increased its position in Cerner Co. (NASDAQ:CERN) by 126.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,628 shares of the company’s stock after acquiring an additional 32,139 shares during the period. Pacer Advisors Inc.’s holdings in Cerner were worth $3,950,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Guggenheim Capital LLC raised its position in shares of Cerner by 8.1% in the 4th quarter. Guggenheim Capital LLC now owns 137,983 shares of the company’s stock worth $10,126,000 after buying an additional 10,300 shares during the period. Franklin Resources Inc. grew its stake in shares of Cerner by 29.0% during the fourth quarter. Franklin Resources Inc. now owns 302,511 shares of the company’s stock valued at $22,201,000 after acquiring an additional 67,951 shares in the last quarter. Pensionfund Sabic boosted its stake in Cerner by 18.2% in the first quarter. Pensionfund Sabic now owns 26,000 shares of the company’s stock valued at $1,638,000 after acquiring an additional 4,000 shares during the period. State of Alaska Department of Revenue boosted its stake in Cerner by 6.4% in the first quarter. State of Alaska Department of Revenue now owns 80,421 shares of the company’s stock valued at $5,064,000 after acquiring an additional 4,861 shares during the period. Finally, IBM Retirement Fund boosted its stake in Cerner by 60.2% in the first quarter. IBM Retirement Fund now owns 7,381 shares of the company’s stock valued at $465,000 after acquiring an additional 2,775 shares during the period. Institutional investors and hedge funds own 82.72% of the company’s stock.
In other Cerner news, insider Tracy L. Platt sold 6,948 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $71.38, for a total transaction of $495,948.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Michael R. Battaglioli sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $71.31, for a total transaction of $285,240.00. Following the sale, the chief accounting officer now directly owns 2,712 shares in the company, valued at $193,392.72. The disclosure for this sale can be found here. Insiders have sold 128,875 shares of company stock valued at $9,146,690 in the last ninety days. 0.33% of the stock is owned by company insiders.
Cerner stock opened at $69.45 on Friday. The company’s fifty day simple moving average is $70.10 and its 200-day simple moving average is $70.00. The company has a quick ratio of 1.90, a current ratio of 2.04 and a debt-to-equity ratio of 0.33. Cerner Co. has a 12 month low of $53.08 and a 12 month high of $80.90. The stock has a market cap of $21.14 billion, a P/E ratio of 41.84, a P/E/G ratio of 2.23 and a beta of 0.87.
Cerner (NASDAQ:CERN) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Cerner had a net margin of 9.23% and a return on equity of 18.19%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the company posted $0.66 EPS. Cerner’s revenue was down 7.0% on a year-over-year basis. On average, equities research analysts expect that Cerner Co. will post 2.5 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 5th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, June 4th. Cerner’s dividend payout ratio is 29.88%.
CERN has been the subject of a number of research reports. UBS Group decreased their target price on Cerner from $84.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Royal Bank of Canada reaffirmed a “buy” rating and set a $80.00 price target on shares of Cerner in a report on Thursday. Stephens initiated coverage on Cerner in a report on Monday, July 6th. They set an “equal weight” rating and a $75.00 price target on the stock. SunTrust Banks cut Cerner from a “buy” rating to a “hold” rating and lifted their price target for the company from $66.00 to $72.00 in a report on Friday, May 1st. Finally, SVB Leerink began coverage on Cerner in a report on Monday, April 13th. They set an “outperform” rating and a $78.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $78.08.
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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