Horan Capital Management raised its stake in Cerner Co. (NASDAQ:CERN) by 19.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 38,224 shares of the company’s stock after buying an additional 6,210 shares during the period. Horan Capital Management’s holdings in Cerner were worth $2,249,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CERN. HL Financial Services LLC boosted its position in shares of Cerner by 27.0% in the third quarter. HL Financial Services LLC now owns 8,253 shares of the company’s stock valued at $510,000 after buying an additional 1,755 shares during the period. Conning Inc. boosted its position in shares of Cerner by 3.7% in the third quarter. Conning Inc. now owns 7,624 shares of the company’s stock valued at $471,000 after buying an additional 270 shares during the period. Ledyard National Bank boosted its position in shares of Cerner by 36.4% in the third quarter. Ledyard National Bank now owns 3,375 shares of the company’s stock valued at $208,000 after buying an additional 900 shares during the period. Henderson Group PLC boosted its position in shares of Cerner by 7.5% in the third quarter. Henderson Group PLC now owns 908,254 shares of the company’s stock valued at $56,085,000 after buying an additional 63,494 shares during the period. Finally, YHB Investment Advisors Inc. boosted its position in shares of Cerner by 2.2% in the third quarter. YHB Investment Advisors Inc. now owns 13,264 shares of the company’s stock valued at $819,000 after buying an additional 280 shares during the period. Hedge funds and other institutional investors own 80.58% of the company’s stock.
Cerner Co. (NASDAQ:CERN) traded down 0.43% during mid-day trading on Thursday, hitting $58.52. The stock had a trading volume of 580,675 shares. The firm’s 50-day moving average price is $56.97 and its 200 day moving average price is $54.20. The company has a market cap of $19.30 billion, a PE ratio of 31.63 and a beta of 1.05. Cerner Co. has a one year low of $47.01 and a one year high of $67.50.
Cerner (NASDAQ:CERN) last announced its earnings results on Thursday, February 9th. The company reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The business earned $1.26 billion during the quarter, compared to the consensus estimate of $1.26 billion. Cerner had a return on equity of 18.16% and a net margin of 13.27%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS. On average, equities research analysts anticipate that Cerner Co. will post $2.50 EPS for the current year.
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Several equities analysts have recently weighed in on the stock. TheStreet upgraded shares of Cerner from a “c+” rating to a “b-” rating in a research note on Monday, April 3rd. Zacks Investment Research cut shares of Cerner from a “hold” rating to a “sell” rating in a research note on Monday, April 3rd. Citigroup Inc cut shares of Cerner from a “buy” rating to a “neutral” rating in a research note on Friday, February 24th. They noted that the move was a valuation call. Cantor Fitzgerald restated an “overweight” rating and set a $66.00 target price on shares of Cerner in a research note on Wednesday, February 22nd. Finally, Stifel Nicolaus raised their target price on shares of Cerner from $56.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 22nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.15.
In related news, VP Jeffrey A. Townsend sold 100,000 shares of the stock in a transaction on Monday, February 13th. The stock was sold at an average price of $52.31, for a total value of $5,231,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Neal L. Patterson sold 20,000 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $54.91, for a total value of $1,098,200.00. The disclosure for this sale can be found here. Corporate insiders own 13.20% of the company’s stock.
Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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