American International Group Inc. lessened its stake in shares of Cerner Co. (NASDAQ:CERN) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 161,669 shares of the company’s stock after selling 2,994 shares during the period. American International Group Inc.’s holdings in Cerner were worth $9,249,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Moody National Bank Trust Division raised its holdings in Cerner by 72.5% during the 1st quarter. Moody National Bank Trust Division now owns 483 shares of the company’s stock worth $28,000 after buying an additional 203 shares during the period. Essex Savings Bank acquired a new stake in Cerner during the 4th quarter worth about $27,000. JNBA Financial Advisors acquired a new stake in Cerner during the 4th quarter worth about $34,000. Creative Financial Designs Inc. ADV raised its holdings in Cerner by 303.4% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 710 shares of the company’s stock worth $41,000 after buying an additional 534 shares during the period. Finally, Financial Gravity Companies Inc. acquired a new stake in Cerner during the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.
Several research firms have issued reports on CERN. BidaskClub upgraded Cerner from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. ValuEngine raised Cerner from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cerner in a research note on Monday, April 29th. Robert W. Baird lifted their target price on Cerner from $67.00 to $71.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley set a $49.00 target price on Cerner and gave the company a “sell” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $68.67.
In other news, Director R Halsey Wise purchased 7,600 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was acquired at an average price of $65.76 per share, with a total value of $499,776.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John J. Greisch purchased 9,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $67.57 per share, with a total value of $608,130.00. The disclosure for this purchase can be found here. Insiders own 4.71% of the company’s stock.
NASDAQ:CERN opened at $69.55 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.55 and a current ratio of 2.58. Cerner Co. has a fifty-two week low of $48.78 and a fifty-two week high of $69.74. The stock has a market cap of $22.27 billion, a price-to-earnings ratio of 31.47, a price-to-earnings-growth ratio of 2.10 and a beta of 1.03.
Cerner (NASDAQ:CERN) last released its earnings results on Thursday, April 25th. The company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.06. Cerner had a return on equity of 14.86% and a net margin of 11.65%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the business posted $0.58 EPS. The business’s revenue for the quarter was up 7.5% 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 fiscal year.
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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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