Griffin Asset Management Inc. Has $514,000 Stake in Cerner Co. (CERN)

Griffin Asset Management Inc. cut its holdings in shares of Cerner Co. (NASDAQ:CERN) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,800 shares of the company’s stock after selling 600 shares during the quarter. Griffin Asset Management Inc.’s holdings in Cerner were worth $514,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Adell Harriman & Carpenter Inc. boosted its position in shares of Cerner by 0.6% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 31,427 shares of the company’s stock worth $1,648,000 after acquiring an additional 200 shares in the last quarter. Securian Asset Management Inc boosted its position in Cerner by 0.7% in the fourth quarter. Securian Asset Management Inc now owns 34,031 shares of the company’s stock valued at $1,785,000 after buying an additional 248 shares in the last quarter. Armstrong Henry H Associates Inc. boosted its position in Cerner by 2.4% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,500 shares of the company’s stock valued at $551,000 after buying an additional 250 shares in the last quarter. Motley Fool Wealth Management LLC boosted its position in Cerner by 0.5% in the fourth quarter. Motley Fool Wealth Management LLC now owns 50,414 shares of the company’s stock valued at $2,644,000 after buying an additional 262 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its position in Cerner by 4.8% in the fourth quarter. IHT Wealth Management LLC now owns 6,386 shares of the company’s stock valued at $335,000 after buying an additional 290 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors.

A number of brokerages have weighed in on CERN. Robert W. Baird raised their target price on shares of Cerner from $67.00 to $71.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley set a $49.00 target price on shares of Cerner and gave the company a “sell” rating in a research report on Wednesday, April 10th. Barclays restated a “hold” rating and issued a $68.00 target price on shares of Cerner in a research report on Wednesday, April 10th. Citigroup set a $77.00 target price on shares of Cerner and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, SunTrust Banks upgraded shares of Cerner from a “hold” rating to a “buy” rating and raised their target price for the company from $60.00 to $76.00 in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $68.67.

Shares of NASDAQ:CERN traded up $0.31 during mid-day trading on Friday, reaching $62.71. 2,577,452 shares of the company’s stock were exchanged, compared to its average volume of 2,669,411. The firm has a market cap of $20.34 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.38 and a current ratio of 2.41. Cerner Co. has a twelve month low of $48.78 and a twelve month high of $67.57.

Cerner (NASDAQ:CERN) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. Cerner had a net margin of 11.74% and a return on equity of 14.84%. Cerner’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. Sell-side analysts forecast that Cerner Co. will post 2.39 EPS for the current year.

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About Cerner

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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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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