Wellington Management Group LLP trimmed its holdings in Cerner Co. (NASDAQ:CERN) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,254,627 shares of the company’s stock after selling 184,826 shares during the quarter. Wellington Management Group LLP owned about 3.37% of Cerner worth $645,939,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. AJO LP increased its holdings in shares of Cerner by 13.9% during the 1st quarter. AJO LP now owns 448,121 shares of the company’s stock worth $28,226,000 after buying an additional 54,673 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Cerner by 28.2% during the 1st quarter. Blair William & Co. IL now owns 81,034 shares of the company’s stock worth $5,104,000 after buying an additional 17,814 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Cerner by 29.0% during the 4th quarter. Franklin Resources Inc. now owns 302,511 shares of the company’s stock worth $22,201,000 after buying an additional 67,951 shares during the last quarter. Aviva PLC increased its holdings in shares of Cerner by 23.4% during the 4th quarter. Aviva PLC now owns 138,695 shares of the company’s stock worth $10,179,000 after buying an additional 26,287 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in shares of Cerner by 8.1% during 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 last quarter. 82.75% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Cerner from a “hold” rating to a “buy” rating and raised their price target for the stock from $75.00 to $90.00 in a report on Wednesday, April 22nd. SunTrust Banks downgraded shares of Cerner from a “buy” rating to a “hold” rating and raised their price target for the stock from $66.00 to $72.00 in a report on Friday, May 1st. BidaskClub downgraded shares of Cerner from a “hold” rating to a “sell” rating in a report on Friday, May 15th. Morgan Stanley lifted their target price on shares of Cerner from $52.00 to $58.00 and gave the company an “underweight” rating in a report on Wednesday, May 13th. Finally, Barclays dropped their target price on shares of Cerner from $72.00 to $67.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $78.80.
In other news, EVP John Peterzalek sold 53,177 shares of Cerner stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $70.89, for a total transaction of $3,769,717.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Brent Shafer sold 14,282 shares of Cerner stock in a transaction on Monday, May 11th. The stock was sold at an average price of $68.52, for a total transaction of $978,602.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,278 shares of company stock valued at $8,354,806. Corporate insiders own 0.33% of the company’s stock.
CERN stock traded down $4.41 during midday trading on Thursday, hitting $67.46. The company’s stock had a trading volume of 95,229 shares, compared to its average volume of 2,429,000. The company has a quick ratio of 1.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.35. Cerner Co. has a 52-week low of $53.08 and a 52-week high of $80.90. The firm has a market capitalization of $22.22 billion, a P/E ratio of 44.64, a PEG ratio of 2.30 and a beta of 0.87. The firm has a 50-day simple moving average of $69.49 and a 200-day simple moving average of $70.53.
Cerner (NASDAQ:CERN) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Cerner had a net margin of 8.93% and a return on equity of 18.20%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 EPS. On average, sell-side analysts expect that Cerner Co. will post 2.5 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 5th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, June 4th. This represents a $0.72 annualized dividend and a dividend yield of 1.07%. Cerner’s dividend payout ratio (DPR) is currently 29.88%.
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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