Standard Life Aberdeen plc trimmed its holdings in Cerner Co. (NASDAQ:CERN) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 442,176 shares of the company’s stock after selling 4,802 shares during the quarter. Standard Life Aberdeen plc owned approximately 0.14% of Cerner worth $32,451,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. IHT Wealth Management LLC boosted its stake in Cerner by 13.0% in the 3rd quarter. IHT Wealth Management LLC now owns 6,020 shares of the company’s stock worth $410,000 after purchasing an additional 694 shares during the period. Sunbelt Securities Inc. bought a new position in Cerner in the 3rd quarter worth approximately $635,000. Starboard Value LP boosted its stake in Cerner by 10.8% in the 3rd quarter. Starboard Value LP now owns 3,325,000 shares of the company’s stock worth $226,665,000 after purchasing an additional 325,000 shares during the period. State Street Corp boosted its stake in Cerner by 1.3% in the 3rd quarter. State Street Corp now owns 14,227,729 shares of the company’s stock worth $972,413,000 after purchasing an additional 180,710 shares during the period. Finally, Ilmarinen Mutual Pension Insurance Co bought a new position in Cerner in the 3rd quarter worth approximately $6,645,000. Institutional investors and hedge funds own 81.69% of the company’s stock.
NASDAQ:CERN traded up $3.00 during midday trading on Thursday, hitting $61.04. 3,485,344 shares of the company traded hands, compared to its average volume of 2,660,722. The firm’s fifty day moving average is $70.90 and its 200-day moving average is $70.34. Cerner Co. has a 12-month low of $53.08 and a 12-month high of $80.90. The firm has a market capitalization of $18.10 billion, a P/E ratio of 36.99, a P/E/G ratio of 1.51 and a beta of 0.89. The company has a current ratio of 2.04, a quick ratio of 2.02 and a debt-to-equity ratio of 0.24.
Cerner (NASDAQ:CERN) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. Cerner had a return on equity of 16.66% and a net margin of 9.30%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. Cerner’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that Cerner Co. will post 2.87 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, April 3rd will be paid a $0.18 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.18%. Cerner’s payout ratio is 29.88%.
In other Cerner news, EVP Randy D. Sims sold 188,780 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $80.00, for a total value of $15,102,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald Trigg sold 17,400 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $78.94, for a total value of $1,373,556.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 392,180 shares of company stock worth $31,200,356. Insiders own 0.75% of the company’s stock.
CERN has been the subject of several recent analyst reports. BidaskClub upgraded Cerner from a “hold” rating to a “buy” rating in a research note on Tuesday, March 10th. Stifel Nicolaus lowered their target price on Cerner from to in a research report on Wednesday, March 11th. Wells Fargo & Co increased their target price on Cerner from $80.00 to $83.50 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Cfra increased their target price on Cerner from $72.00 to $76.00 and gave the company a “hold” rating in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lowered their target price on Cerner from $75.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, March 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $77.64.
Cerner Company 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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