Cerner Co. (CERN) is MERIAN GLOBAL INVESTORS UK Ltd’s 10th Largest Position

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MERIAN GLOBAL INVESTORS UK Ltd boosted its position in Cerner Co. (NASDAQ:CERN) by 25.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,324,449 shares of the company’s stock after purchasing an additional 680,664 shares during the period. Cerner makes up about 1.8% of MERIAN GLOBAL INVESTORS UK Ltd’s portfolio, making the stock its 10th largest holding. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in Cerner were worth $190,191,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division lifted its position in Cerner by 72.5% in the first quarter. Moody National Bank Trust Division now owns 483 shares of the company’s stock worth $28,000 after purchasing an additional 203 shares during the period. Essex Savings Bank acquired a new stake in Cerner in the fourth quarter worth approximately $27,000. JNBA Financial Advisors acquired a new stake in Cerner in the fourth quarter worth approximately $34,000. Creative Financial Designs Inc. ADV lifted its position in Cerner by 303.4% in the first quarter. Creative Financial Designs Inc. ADV now owns 710 shares of the company’s stock worth $41,000 after purchasing an additional 534 shares during the period. Finally, Financial Gravity Companies Inc. acquired a new stake in Cerner in the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.

NASDAQ CERN opened at $68.70 on Friday. The firm has a market capitalization of $22.32 billion, a price-to-earnings ratio of 31.04, a P/E/G ratio of 2.10 and a beta of 1.03. Cerner Co. has a 1 year low of $48.78 and a 1 year high of $69.65. The company has a current ratio of 2.58, a quick ratio of 2.55 and a debt-to-equity ratio of 0.09.

Cerner (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.06. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Cerner had a return on equity of 14.86% and a net margin of 11.65%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 earnings per share. As a group, analysts anticipate that Cerner Co. will post 2.44 EPS for the current year.

In other news, Director John J. Greisch bought 9,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $67.57 per share, with a total value of $608,130.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director R Halsey Wise bought 7,600 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were purchased at an average cost of $65.76 per share, for a total transaction of $499,776.00. The disclosure for this purchase can be found here. 4.71% of the stock is owned by insiders.

A number of research firms have weighed in on CERN. Zacks Investment Research downgraded Cerner from a “hold” rating to a “sell” rating in a research report on Thursday, February 21st. BidaskClub raised Cerner from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Barclays reaffirmed a “hold” rating and issued a $68.00 price target on shares of Cerner in a report on Wednesday, April 10th. Citigroup set a $77.00 price target on Cerner and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Morgan Stanley cut Cerner from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $68.00 to $47.00 in a report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. Cerner currently has a consensus rating of “Buy” and an average price target of $68.67.

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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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