Sandy Spring Bank cut its stake in Cerner Co. (NASDAQ:CERN) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,199 shares of the company’s stock after selling 423 shares during the period. Sandy Spring Bank’s holdings in Cerner were worth $2,039,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in CERN. RTW Investments LP purchased a new stake in Cerner in the second quarter valued at $81,054,000. BlackRock Inc. raised its holdings in shares of Cerner by 4.0% in the third quarter. BlackRock Inc. now owns 24,859,804 shares of the company’s stock valued at $1,797,114,000 after buying an additional 959,533 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Cerner by 107.4% in the second quarter. Nordea Investment Management AB now owns 1,349,906 shares of the company’s stock valued at $91,524,000 after buying an additional 698,933 shares during the last quarter. Morgan Stanley raised its holdings in shares of Cerner by 31.2% in the first quarter. Morgan Stanley now owns 2,868,059 shares of the company’s stock valued at $180,660,000 after buying an additional 682,655 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Cerner by 2,452.3% in the second quarter. Assenagon Asset Management S.A. now owns 599,030 shares of the company’s stock valued at $41,064,000 after buying an additional 575,560 shares during the last quarter. 83.30% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on CERN shares. Zacks Investment Research cut shares of Cerner from a “buy” rating to a “hold” rating and set a $72.00 target price for the company. in a report on Tuesday, August 4th. BidaskClub cut shares of Cerner from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 25th. Wells Fargo & Company upped their target price on shares of Cerner from $81.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cerner from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Finally, Morgan Stanley increased their price target on shares of Cerner from $58.00 to $62.00 and gave the stock an “underweight” rating in a report on Friday, July 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. Cerner currently has a consensus rating of “Hold” and a consensus target price of $77.33.
In related news, EVP John Peterzalek sold 1,907 shares of Cerner stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $75.09, for a total value of $143,196.63. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.
Shares of NASDAQ CERN traded down $0.76 during midday trading on Tuesday, hitting $74.50. The company’s stock had a trading volume of 5,562 shares, compared to its average volume of 2,046,743. Cerner Co. has a 1-year low of $53.08 and a 1-year high of $80.90. The firm’s fifty day moving average price is $72.66 and its 200-day moving average price is $70.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.28 and a current ratio of 2.29. The firm has a market cap of $23.07 billion, a P/E ratio of 29.40, a P/E/G ratio of 2.75 and a beta of 0.76.
Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.10. Cerner had a net margin of 14.28% and a return on equity of 18.14%. As a group, research analysts predict that Cerner Co. will post 2.47 earnings per share for the current fiscal year.
Cerner Company Profile
Cerner Corporation, together with its subsidiaries, 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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