Parametric Portfolio Associates LLC lifted its holdings in shares of Cerner Co. (NASDAQ:CERN) by 7.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 783,490 shares of the company’s stock after acquiring an additional 51,391 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.25% of Cerner worth $57,430,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Berman Capital Advisors LLC lifted its holdings 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 acquiring an additional 204 shares during the period. Altshuler Shaham Ltd lifted its holdings 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 acquiring an additional 246 shares during the period. Advisory Alpha LLC bought a new position in shares of Cerner during the 1st quarter worth about $28,000. Nelson Roberts Investment Advisors LLC bought a new position in shares of Cerner during the 1st quarter worth about $25,000. Finally, Valeo Financial Advisors LLC bought a new position in shares of Cerner during the 2nd quarter worth about $49,000. 83.22% of the stock is owned by institutional investors.
Shares of Cerner stock traded down $0.16 during mid-day trading on Friday, reaching $67.85. 1,123,018 shares of the stock were exchanged, compared to its average volume of 1,809,059. The company has a market cap of $21.76 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 1.93 and a beta of 0.92. The company has a current ratio of 2.52, a quick ratio of 2.50 and a debt-to-equity ratio of 0.22. The firm has a 50-day simple moving average of $70.02 and a 200 day simple moving average of $67.07. Cerner Co. has a fifty-two week low of $48.78 and a fifty-two week high of $76.47.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 25th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.06%. The ex-dividend date is Tuesday, September 24th. Cerner’s payout ratio is presently 32.58%.
A number of equities analysts have recently commented on CERN shares. Bank of America raised their price objective on shares of Cerner from $70.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Wells Fargo & Co increased their target price on shares of Cerner from $72.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Cantor Fitzgerald increased their target price on shares of Cerner from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Canaccord Genuity increased their target price on shares of Cerner from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley increased their target price on shares of Cerner from $49.00 to $62.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Cerner currently has an average rating of “Buy” and an average target price of $74.73.
In other Cerner news, VP Jeffrey A. Townsend sold 199,432 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $66.46, for a total value of $13,254,250.72. Following the completion of the sale, the vice president now owns 59,432 shares in the company, valued at approximately $3,949,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marc G. Naughton sold 24,110 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $67.58, for a total transaction of $1,629,353.80. Following the completion of the sale, the chief financial officer now owns 84,898 shares of the company’s stock, valued at approximately $5,737,406.84. The disclosure for this sale can be found here. Insiders sold a total of 288,377 shares of company stock valued at $19,427,390 in the last 90 days. Corporate insiders own 0.75% of the company’s stock.
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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