Carlson Capital Management Buys 1,970 Shares of Cerner Co. (CERN)

Share on StockTwits

Carlson Capital Management grew its stake in shares of Cerner Co. (NASDAQ:CERN) by 22.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,881 shares of the company’s stock after buying an additional 1,970 shares during the period. Carlson Capital Management’s holdings in Cerner were worth $701,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CERN. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Cerner by 5.1% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,207 shares of the company’s stock valued at $1,029,000 after acquiring an additional 841 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in Cerner by 1.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 54,804 shares of the company’s stock valued at $3,277,000 after acquiring an additional 849 shares during the last quarter. CENTRAL TRUST Co boosted its holdings in Cerner by 8.8% in the second quarter. CENTRAL TRUST Co now owns 11,035 shares of the company’s stock valued at $660,000 after acquiring an additional 891 shares during the last quarter. FDx Advisors Inc. boosted its holdings in Cerner by 4.0% in the second quarter. FDx Advisors Inc. now owns 24,041 shares of the company’s stock valued at $1,437,000 after acquiring an additional 918 shares during the last quarter. Finally, World Asset Management Inc boosted its holdings in Cerner by 4.8% in the third quarter. World Asset Management Inc now owns 20,966 shares of the company’s stock valued at $1,350,000 after acquiring an additional 956 shares during the last quarter. 76.24% of the stock is owned by institutional investors.

In other Cerner news, President Zane M. Burke sold 283,539 shares of the business’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $63.68, for a total transaction of $18,055,763.52. Following the transaction, the president now owns 59,539 shares in the company, valued at $3,791,443.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Michael R. Battaglioli sold 4,000 shares of Cerner stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $67.02, for a total value of $268,080.00. Following the sale, the chief accounting officer now directly owns 2,226 shares in the company, valued at $149,186.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,270,870 shares of company stock worth $82,486,031. 4.71% of the stock is currently owned by insiders.

A number of research analysts recently weighed in on CERN shares. Zacks Investment Research cut Cerner from a “hold” rating to a “sell” rating in a report on Thursday, July 19th. BidaskClub cut Cerner from a “hold” rating to a “sell” rating in a report on Friday, August 31st. Barclays started coverage on Cerner in a report on Thursday, September 13th. They issued an “equal weight” rating and a $70.00 target price on the stock. Cantor Fitzgerald reiterated a “buy” rating and issued a $80.00 target price on shares of Cerner in a report on Wednesday, September 12th. Finally, KeyCorp lifted their target price on Cerner from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $71.71.

Shares of CERN traded up $0.30 during midday trading on Friday, reaching $63.04. 116,076 shares of the company were exchanged, compared to its average volume of 1,708,871. The stock has a market cap of $21.13 billion, a PE ratio of 28.89, a P/E/G ratio of 2.04 and a beta of 0.92. Cerner Co. has a 1-year low of $52.05 and a 1-year high of $73.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.85 and a quick ratio of 2.83.

Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Cerner had a return on equity of 15.26% and a net margin of 16.06%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. On average, research analysts anticipate that Cerner Co. will post 2.28 earnings per share for the current year.

Cerner Profile

Cerner Corporation provides health care information technology solutions and 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.

Further Reading: What is a closed-end mutual fund (CEF)?

Want to see what other hedge funds are holding CERN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cerner Co. (NASDAQ:CERN).

Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

Receive News & Ratings for Cerner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerner and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Nabors Industries Ltd.  Expected to Post Quarterly Sales of $813.53 Million
Nabors Industries Ltd. Expected to Post Quarterly Sales of $813.53 Million
Mincoin  Tops 1-Day Volume of $78.00
Mincoin Tops 1-Day Volume of $78.00
Kyber Network  Trading 27.1% Lower  Over Last Week
Kyber Network Trading 27.1% Lower Over Last Week
Rexnord  Lifted to “Buy” at Zacks Investment Research
Rexnord Lifted to “Buy” at Zacks Investment Research
U.S. Physical Therapy, Inc.  Holdings Reduced by Renaissance Technologies LLC
U.S. Physical Therapy, Inc. Holdings Reduced by Renaissance Technologies LLC
Renaissance Technologies LLC Acquires 617,300 Shares of Maxim Integrated Products Inc.
Renaissance Technologies LLC Acquires 617,300 Shares of Maxim Integrated Products Inc.


© 2006-2018 Ticker Report