Empirical Finance LLC grew its stake in shares of Cerner Co. (NASDAQ:CERN) by 16.3% in the second quarter, HoldingsChannel.com reports. The fund owned 3,653 shares of the company’s stock after acquiring an additional 511 shares during the quarter. Empirical Finance LLC’s holdings in Cerner were worth $286,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Barber Financial Group Inc. lifted its position in shares of Cerner by 1.4% during the 2nd quarter. Barber Financial Group Inc. now owns 9,607 shares of the company’s stock worth $751,000 after buying an additional 134 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Cerner by 2.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 6,947 shares of the company’s stock worth $542,000 after buying an additional 141 shares during the last quarter. Laurel Wealth Advisors Inc. lifted its position in shares of Cerner by 4.3% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 3,544 shares of the company’s stock worth $255,000 after buying an additional 147 shares during the last quarter. Ethic Inc. lifted its position in shares of Cerner by 4.2% during the 2nd quarter. Ethic Inc. now owns 3,681 shares of the company’s stock worth $288,000 after buying an additional 148 shares during the last quarter. Finally, Probity Advisors Inc. lifted its position in shares of Cerner by 2.5% during the 2nd quarter. Probity Advisors Inc. now owns 6,067 shares of the company’s stock worth $474,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 85.59% of the company’s stock.
A number of equities analysts have issued reports on CERN shares. Canaccord Genuity upped their target price on Cerner from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. SVB Leerink upped their target price on Cerner from $83.00 to $88.00 and gave the stock an “outperform” rating in a report on Monday, August 2nd. Piper Sandler upped their target price on Cerner from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, July 30th. Finally, Morgan Stanley upped their target price on Cerner from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Tuesday, August 31st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Cerner currently has an average rating of “Buy” and an average price target of $84.40.
NASDAQ CERN opened at $74.02 on Friday. The business has a 50 day simple moving average of $77.94 and a 200 day simple moving average of $76.46. Cerner Co. has a one year low of $66.75 and a one year high of $84.20. The stock has a market capitalization of $21.88 billion, a P/E ratio of 32.32, a P/E/G ratio of 2.22 and a beta of 0.73. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.65 and a quick ratio of 1.63.
Cerner (NASDAQ:CERN) last released its earnings results on Thursday, July 29th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.76 by $0.04. Cerner had a return on equity of 18.32% and a net margin of 12.54%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. Equities analysts expect that Cerner Co. will post 2.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 12th. Shareholders of record on Monday, September 27th will be issued a $0.22 dividend. The ex-dividend date is Friday, September 24th. This represents a $0.88 annualized dividend and a yield of 1.19%. Cerner’s payout ratio is currently 35.92%.
Cerner Company Profile
Cerner Corp. designs, develops, markets, installs, hosts and supports health care information technology, health care devices, hardware and content solutions for health care organizations and consumers. The company also provides value-added services, including implementation and training, remote hosting, operational management services, revenue cycle services, support and maintenance, health care data analysis, clinical process optimization, transaction processing, employee wellness programs and third party administrator services for employer-based health plans.
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