Perceptive Advisors LLC lifted its stake in shares of Cerner Co. (NASDAQ:CERN) by 61.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,000 shares of the company’s stock after purchasing an additional 40,000 shares during the quarter. Perceptive Advisors LLC’s holdings in Cerner were worth $7,706,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. S.A. Mason LLC acquired a new position in shares of Cerner during the 4th quarter valued at $29,000. NWK Group Inc. purchased a new stake in Cerner during the fourth quarter valued at about $33,000. Security National Trust Co. bought a new position in shares of Cerner in the fourth quarter worth approximately $34,000. Barnett & Company Inc. increased its position in shares of Cerner by 429.2% in the fourth quarter. Barnett & Company Inc. now owns 471 shares of the company’s stock worth $35,000 after purchasing an additional 382 shares during the last quarter. Finally, Duncker Streett & Co. Inc. bought a new position in shares of Cerner in the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 81.69% of the company’s stock.
In other Cerner news, CAO Michael R. Battaglioli sold 10,000 shares of Cerner stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $79.40, for a total value of $794,000.00. Following the sale, the chief accounting officer now owns 8,726 shares in the company, valued at $692,844.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Randy D. Sims sold 188,780 shares of Cerner stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $80.00, for a total value of $15,102,400.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 392,180 shares of company stock worth $31,200,356. 0.75% of the stock is currently owned by company insiders.
Cerner (NASDAQ:CERN) last released its earnings results on Tuesday, February 4th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. Cerner had a return on equity of 16.66% and a net margin of 9.30%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the business posted $0.63 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, analysts expect that Cerner Co. will post 2.87 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, April 3rd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.18%. Cerner’s payout ratio is 29.88%.
CERN has been the topic of a number of recent research reports. UBS Group reiterated a “buy” rating and set a $84.00 price target (down from $85.00) on shares of Cerner in a research report on Wednesday, March 11th. Royal Bank of Canada began coverage on Cerner in a research report on Wednesday, November 27th. They set an “outperform” rating and a $80.00 price objective for the company. JPMorgan Chase & Co. cut their price target on Cerner from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, March 11th. Cfra upped their price objective on Cerner from $72.00 to $76.00 and gave the company a “hold” rating in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus decreased their price target on Cerner from to in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $77.64.
Cerner Company Profile
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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