Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Cerner Co. (NASDAQ:CERN) by 14.7% in the third quarter, Holdings Channel.com reports. The firm owned 20,232 shares of the company’s stock after purchasing an additional 2,594 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cerner were worth $1,379,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Berman Capital Advisors LLC boosted its stake in shares of Cerner by 115.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 381 shares of the company’s stock worth $27,000 after buying an additional 204 shares during the last quarter. Altshuler Shaham Ltd boosted its stake in shares of Cerner by 173.2% during the 2nd quarter. Altshuler Shaham Ltd now owns 388 shares of the company’s stock worth $28,000 after buying an additional 246 shares during the last quarter. CSat Investment Advisory L.P. boosted its stake in shares of Cerner by 119.7% during the 2nd quarter. CSat Investment Advisory L.P. now owns 637 shares of the company’s stock worth $47,000 after buying an additional 347 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Cerner during the 2nd quarter worth about $49,000. Finally, Ashburton Jersey Ltd acquired a new position in shares of Cerner during the 2nd quarter worth about $55,000. 82.69% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the stock. KeyCorp restated an “overweight” rating and set a $82.00 price objective (up from $76.00) on shares of Cerner in a research note on Friday, August 16th. Canaccord Genuity increased their price objective on shares of Cerner from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Zacks Investment Research downgraded shares of Cerner from a “buy” rating to a “hold” rating and set a $77.00 price objective for the company. in a research note on Monday, July 29th. Piper Jaffray Companies increased their price objective on shares of Cerner from $74.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, BidaskClub upgraded shares of Cerner from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $75.19.
Cerner (NASDAQ:CERN) last issued its earnings results on Wednesday, July 24th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Cerner had a net margin of 10.75% and a return on equity of 15.14%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the business posted $0.62 EPS. Cerner’s revenue was up 4.6% on a year-over-year basis. As a group, equities analysts forecast that Cerner Co. will post 2.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Wednesday, September 25th were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $0.72 annualized dividend and a yield of 1.06%. Cerner’s dividend payout ratio (DPR) is currently 32.58%.
In other Cerner news, Director Julie L. Gerberding sold 7,928 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $71.82, for a total value of $569,388.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John Peterzalek sold 27,484 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $72.11, for a total transaction of $1,981,871.24. The disclosure for this sale can be found here. Insiders sold a total of 344,268 shares of company stock valued at $23,243,010 over the last quarter. 0.75% of the stock is currently owned by company insiders.
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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