Essex Savings Bank Invests $27,000 in Cerner Co. (CERN)

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Essex Savings Bank purchased a new stake in shares of Cerner Co. (NASDAQ:CERN) in the 4th quarter, Holdings Channel reports. The fund purchased 508 shares of the company’s stock, valued at approximately $27,000.

Several other institutional investors also recently bought and sold shares of CERN. Quantamental Technologies LLC purchased a new position in Cerner during the fourth quarter valued at approximately $121,000. First Command Bank purchased a new position in Cerner during the fourth quarter valued at approximately $122,000. First Command Financial Services Inc. purchased a new position in Cerner during the fourth quarter valued at approximately $122,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Cerner by 155.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,347 shares of the company’s stock worth $151,000 after purchasing an additional 1,429 shares during the last quarter. Finally, Clean Yield Group purchased a new position in Cerner in the fourth quarter worth $154,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

CERN has been the topic of several analyst reports. Zacks Investment Research reaffirmed a “sell” rating on shares of Cerner in a report on Monday, November 12th. Barclays cut their price target on shares of Cerner from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, October 26th. BidaskClub raised shares of Cerner from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Morgan Stanley lowered their price objective on shares of Cerner from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Monday, December 3rd. Finally, Leerink Swann upgraded shares of Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Monday, October 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $68.90.

In related news, Vice Chairman Clifford W. Illig sold 435,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $57.95, for a total transaction of $25,208,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Clifford W. Illig sold 5,000 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $57.19, for a total transaction of $285,950.00. Following the transaction, the insider now owns 1,229,719 shares of the company’s stock, valued at $70,327,629.61. The disclosure for this sale can be found here. Insiders own 4.71% of the company’s stock.

NASDAQ:CERN opened at $56.01 on Friday. Cerner Co. has a 12 month low of $48.78 and a 12 month high of $67.57. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.41 and a quick ratio of 2.60. The firm has a market cap of $18.32 billion, a PE ratio of 25.34, a P/E/G ratio of 1.86 and a beta of 0.99.

Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Tuesday, February 5th. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. Cerner had a net margin of 11.74% and a return on equity of 14.84%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. On average, equities analysts predict that Cerner Co. will post 2.4 EPS for the current year.

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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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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)

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