Wetherby Asset Management Inc. lifted its position in Cerner Co. (NASDAQ:CERN) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,330 shares of the company’s stock after purchasing an additional 174 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Cerner were worth $227,000 at the end of the most recent quarter.
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Other institutional investors have also recently added to or reduced their stakes in the company. Acropolis Investment Management LLC lifted its holdings in shares of Cerner by 2.0% during the second quarter. Acropolis Investment Management LLC now owns 7,494 shares of the company’s stock valued at $549,000 after purchasing an additional 148 shares during the last quarter. Advisor Partners LLC increased its position in shares of Cerner by 2.2% during the second quarter. Advisor Partners LLC now owns 7,061 shares of the company’s stock valued at $518,000 after acquiring an additional 154 shares in the last quarter. Destination Wealth Management increased its position in shares of Cerner by 3.7% during the second quarter. Destination Wealth Management now owns 5,208 shares of the company’s stock valued at $382,000 after acquiring an additional 187 shares in the last quarter. Clarius Group LLC increased its position in shares of Cerner by 6.3% during the third quarter. Clarius Group LLC now owns 3,245 shares of the company’s stock valued at $221,000 after acquiring an additional 192 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Cerner by 26.8% during the third quarter. Signaturefd LLC now owns 937 shares of the company’s stock valued at $64,000 after acquiring an additional 198 shares in the last quarter. 84.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CERN traded up $1.35 during mid-day trading on Friday, hitting $68.40. The company’s stock had a trading volume of 6,120,200 shares, compared to its average volume of 1,995,412. The firm has a market capitalization of $21.06 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 2.10 and a beta of 0.92. The company has a current ratio of 2.21, a quick ratio of 2.19 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average is $67.32 and its 200-day moving average is $69.79. Cerner Co. has a 52-week low of $48.78 and a 52-week high of $76.47.
Cerner (NASDAQ:CERN) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.66 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. Cerner had a net margin of 9.02% and a return on equity of 15.61%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the business earned $0.63 earnings per share. As a group, sell-side analysts predict that Cerner Co. will post 2.41 earnings per share for the current fiscal year.
Several brokerages recently weighed in on CERN. Canaccord Genuity raised their price target on shares of Cerner from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. BidaskClub downgraded shares of Cerner from a “sell” rating to a “strong sell” rating in a research report on Friday, October 25th. Deutsche Bank initiated coverage on shares of Cerner in a research report on Thursday, September 26th. They issued a “buy” rating and a $82.00 target price for the company. Zacks Investment Research downgraded shares of Cerner from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a research report on Monday, July 29th. Finally, Cowen set a $66.00 target price on shares of Cerner and gave the stock a “hold” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $76.73.
In other news, VP Jeffrey A. Townsend sold 199,432 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $66.46, for a total value of $13,254,250.72. Following the transaction, the vice president now directly owns 59,432 shares of the company’s stock, valued at $3,949,850.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael Nill sold 13,124 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $68.07, for a total transaction of $893,350.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 344,268 shares of company stock worth $23,243,010. 0.75% of the stock is owned by company insiders.
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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