Alberta Investment Management Corp Takes $2.41 Million Position in Cerner Co. (NASDAQ:CERN)

Alberta Investment Management Corp bought a new stake in shares of Cerner Co. (NASDAQ:CERN) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,300 shares of the company’s stock, valued at approximately $2,413,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Harrington Investments INC raised its position in shares of Cerner by 0.6% during the 4th quarter. Harrington Investments INC now owns 22,645 shares of the company’s stock valued at $1,662,000 after buying an additional 140 shares in the last quarter. Destination Wealth Management raised its position in shares of Cerner by 2.9% during the 4th quarter. Destination Wealth Management now owns 5,312 shares of the company’s stock valued at $390,000 after buying an additional 148 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Cerner by 2.2% during the 1st quarter. Alps Advisors Inc. now owns 7,873 shares of the company’s stock valued at $496,000 after buying an additional 168 shares in the last quarter. Synovus Financial Corp raised its position in shares of Cerner by 0.6% during the 4th quarter. Synovus Financial Corp now owns 30,684 shares of the company’s stock valued at $2,256,000 after buying an additional 175 shares in the last quarter. Finally, Prestige Wealth Management Group LLC grew its holdings in Cerner by 11.2% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,894 shares of the company’s stock valued at $139,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 83.56% of the company’s stock.

NASDAQ:CERN opened at $67.28 on Friday. Cerner Co. has a 52 week low of $53.08 and a 52 week high of $80.90. The firm has a 50 day moving average of $67.68 and a 200 day moving average of $70.20. The company has a quick ratio of 1.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $20.43 billion, a price-to-earnings ratio of 41.79, a PEG ratio of 2.11 and a beta of 0.86.

Cerner (NASDAQ:CERN) last posted its earnings results on Tuesday, April 28th. The company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.01. Cerner had a net margin of 8.93% and a return on equity of 18.20%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. Cerner’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, analysts expect that Cerner Co. will post 2.5 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 5th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.07%. Cerner’s dividend payout ratio is currently 29.88%.

In other Cerner news, CEO David Brent Shafer sold 14,282 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $68.52, for a total value of $978,602.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.75% of the company’s stock.

CERN has been the topic of several analyst reports. SVB Leerink initiated coverage on shares of Cerner in a report on Monday, April 13th. They set an “outperform” rating and a $78.00 price target on the stock. SunTrust Banks downgraded shares of Cerner from a “buy” rating to a “hold” rating and upped their price target for the company from $66.00 to $72.00 in a report on Friday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Cerner from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, March 11th. Canaccord Genuity restated a “buy” rating on shares of Cerner in a research note on Wednesday, April 29th. Finally, Piper Sandler upped their target price on shares of Cerner from $78.00 to $82.00 in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. Cerner has an average rating of “Buy” and an average price target of $78.80.

Cerner 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.

Further Reading: Limitations of the P/E Growth ratio

Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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