PFM Health Sciences LP acquired a new position in Cerner Co. (NASDAQ:CERN) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 139,569 shares of the company’s stock, valued at approximately $10,032,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Cerner by 3.5% during the 1st quarter. BlackRock Inc. now owns 25,982,577 shares of the company’s stock valued at $1,867,628,000 after buying an additional 886,053 shares in the last quarter. Waddell & Reed Financial Inc. lifted its holdings in Cerner by 9.9% in the 1st quarter. Waddell & Reed Financial Inc. now owns 10,172,135 shares of the company’s stock valued at $731,173,000 after purchasing an additional 914,157 shares in the last quarter. Morgan Stanley lifted its holdings in Cerner by 36.3% in the 4th quarter. Morgan Stanley now owns 3,979,001 shares of the company’s stock valued at $312,272,000 after purchasing an additional 1,059,637 shares in the last quarter. Norges Bank purchased a new position in Cerner in the 4th quarter valued at $265,305,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Cerner by 48.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,660,858 shares of the company’s stock valued at $191,262,000 after purchasing an additional 868,561 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.
Separately, SVB Leerink decreased their price objective on Cerner from $86.00 to $83.00 and set an “outperform” rating on the stock in a report on Thursday, May 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $82.31.
NASDAQ CERN traded up $0.19 during trading on Thursday, hitting $77.88. The stock had a trading volume of 19,418 shares, compared to its average volume of 2,780,981. The company has a market capitalization of $23.47 billion, a P/E ratio of 29.65, a PEG ratio of 2.31 and a beta of 0.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.09 and a quick ratio of 2.07. The business’s 50 day moving average is $78.82. Cerner Co. has a twelve month low of $66.75 and a twelve month high of $84.20.
Cerner (NASDAQ:CERN) last released its earnings results on Wednesday, May 5th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. Cerner had a return on equity of 17.45% and a net margin of 14.69%. Cerner’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 EPS. On average, equities research analysts forecast that Cerner Co. will post 2.74 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 13th. Shareholders of record on Monday, June 28th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.13%. The ex-dividend date was Friday, June 25th. Cerner’s dividend payout ratio is currently 35.92%.
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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