Torray LLC cut its holdings in shares of Cerner Co. (NASDAQ:CERN) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 273,026 shares of the company’s stock after selling 4,308 shares during the period. Cerner makes up 1.8% of Torray LLC’s holdings, making the stock its 24th biggest holding. Torray LLC owned 0.08% of Cerner worth $17,586,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Cerner by 62.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 30,546 shares of the company’s stock worth $1,889,000 after acquiring an additional 11,701 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Cerner by 66.7% during the third quarter. Private Advisor Group LLC now owns 10,570 shares of the company’s stock worth $681,000 after purchasing an additional 4,231 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Cerner by 11.5% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 15,647 shares of the company’s stock worth $1,008,000 after purchasing an additional 1,617 shares during the last quarter. Klingenstein Fields & Co. LLC boosted its holdings in Cerner by 9.8% during the third quarter. Klingenstein Fields & Co. LLC now owns 10,055 shares of the company’s stock worth $648,000 after purchasing an additional 900 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Cerner by 34.5% during the third quarter. Parallel Advisors LLC now owns 4,025 shares of the company’s stock worth $259,000 after purchasing an additional 1,032 shares during the last quarter. 76.33% of the stock is owned by institutional investors.
Several research analysts recently weighed in on CERN shares. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 price target on shares of Cerner in a report on Monday, July 9th. Zacks Investment Research cut shares of Cerner from a “hold” rating to a “sell” rating in a report on Thursday, July 19th. Stifel Nicolaus boosted their price target on shares of Cerner from $62.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 25th. Royal Bank of Canada restated a “buy” rating and set a $72.00 price target on shares of Cerner in a report on Friday, August 3rd. Finally, KeyCorp boosted their price target on shares of Cerner from $71.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, August 3rd. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Cerner has a consensus rating of “Buy” and a consensus price target of $69.98.
CERN opened at $56.89 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.60 and a current ratio of 2.63. The stock has a market capitalization of $18.69 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 1.85 and a beta of 0.96. Cerner Co. has a twelve month low of $50.91 and a twelve month high of $73.43.
Cerner (NASDAQ:CERN) last released its earnings results on Thursday, August 2nd. The company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Cerner had a net margin of 15.72% and a return on equity of 14.73%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. As a group, research analysts anticipate that Cerner Co. will post 2.22 earnings per share for the current fiscal year.
In other Cerner news, Vice Chairman Clifford W. Illig sold 378,900 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $66.46, for a total value of $25,181,694.00. Following the transaction, the insider now directly owns 1,229,719 shares in the company, valued at $81,727,124.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Clifford W. Illig sold 250,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $57.53, for a total transaction of $14,382,500.00. Following the completion of the transaction, the insider now owns 1,229,719 shares in the company, valued at $70,745,734.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,512,970 shares of company stock worth $96,340,945. Corporate insiders own 4.71% of the company’s stock.
Cerner Company 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.
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