Foster Victor Wealth Advisors LLC raised its stake in shares of Cerner Co. (NASDAQ:CERN) by 95.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,363 shares of the company’s stock after purchasing an additional 8,457 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Cerner were worth $1,151,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Cerner by 2.2% in the second quarter. Vanguard Group Inc. now owns 33,776,244 shares of the company’s stock valued at $2,475,799,000 after acquiring an additional 719,784 shares during the period. Waddell & Reed Financial Inc. boosted its position in shares of Cerner by 4.1% in the second quarter. Waddell & Reed Financial Inc. now owns 6,087,983 shares of the company’s stock valued at $446,249,000 after acquiring an additional 238,143 shares during the period. Invesco Ltd. boosted its position in shares of Cerner by 21.4% in the second quarter. Invesco Ltd. now owns 5,931,690 shares of the company’s stock valued at $434,793,000 after acquiring an additional 1,044,715 shares during the period. Northern Trust Corp boosted its position in shares of Cerner by 6.3% in the second quarter. Northern Trust Corp now owns 3,775,949 shares of the company’s stock valued at $276,778,000 after acquiring an additional 223,334 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Cerner by 8.6% in the first quarter. American Century Companies Inc. now owns 3,564,183 shares of the company’s stock valued at $203,907,000 after acquiring an additional 281,156 shares during the period. Institutional investors own 82.66% of the company’s stock.
In other news, COO Michael Nill sold 13,124 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $68.07, for a total value of $893,350.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marc G. Naughton sold 24,110 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $67.58, for a total value of $1,629,353.80. Following the completion of the sale, the chief financial officer now owns 84,898 shares of the company’s stock, valued at $5,737,406.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 344,268 shares of company stock valued at $23,243,010. Company insiders own 0.75% of the company’s stock.
Several equities research analysts have recently weighed in on CERN shares. Argus raised Cerner from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Co increased their price objective on Cerner from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Piper Jaffray Companies raised their target price on Cerner from $74.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. ValuEngine cut Cerner from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Jefferies Financial Group cut Cerner from a “buy” rating to a “hold” rating and raised their target price for the stock from $69.00 to $75.00 in a research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $75.19.
Shares of NASDAQ CERN traded up $0.80 during midday trading on Friday, reaching $67.64. 105,645 shares of the company traded hands, compared to its average volume of 1,710,804. The firm has a market cap of $20.73 billion, a PE ratio of 30.58, a PEG ratio of 2.02 and a beta of 0.93. The stock’s 50-day simple moving average is $67.87 and its 200-day simple moving average is $68.53. Cerner Co. has a 12 month low of $48.78 and a 12 month high of $76.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.50 and a current ratio of 2.52.
Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Cerner had a return on equity of 15.14% and a net margin of 10.75%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the business earned $0.62 earnings per share. On average, equities research analysts expect that Cerner Co. will post 2.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, September 24th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.06%. Cerner’s payout ratio is presently 32.58%.
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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