Bell Asset Management Ltd lifted its stake in shares of Cerner Co. (NASDAQ:CERN) by 20.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 164,634 shares of the company’s stock after purchasing an additional 27,972 shares during the quarter. Cerner accounts for 1.6% of Bell Asset Management Ltd’s holdings, making the stock its 27th biggest holding. Bell Asset Management Ltd owned approximately 0.05% of Cerner worth $9,419,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CERN. Moody National Bank Trust Division grew its position in Cerner by 72.5% in the 1st quarter. Moody National Bank Trust Division now owns 483 shares of the company’s stock valued at $28,000 after purchasing an additional 203 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Cerner in the 1st quarter worth about $2,735,000. Reinhart Partners Inc. lifted its holdings in Cerner by 3.0% during the first quarter. Reinhart Partners Inc. now owns 304,317 shares of the company’s stock valued at $17,410,000 after purchasing an additional 8,932 shares during the last quarter. We Are One Seven LLC lifted its holdings in Cerner by 98.4% during the first quarter. We Are One Seven LLC now owns 16,199 shares of the company’s stock valued at $926,000 after purchasing an additional 8,036 shares during the last quarter. Finally, Rockland Trust Co. lifted its holdings in Cerner by 4.7% during the first quarter. Rockland Trust Co. now owns 165,387 shares of the company’s stock valued at $9,462,000 after purchasing an additional 7,453 shares during the last quarter. 80.90% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on the stock. ValuEngine upgraded shares of Cerner from a “hold” rating to a “buy” rating in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cerner in a research report on Monday, April 29th. Robert W. Baird boosted their price objective on shares of Cerner from $67.00 to $71.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Morgan Stanley set a $49.00 price target on shares of Cerner and gave the company a “sell” rating in a report on Wednesday, April 10th. Finally, SunTrust Banks upgraded shares of Cerner from a “hold” rating to a “buy” rating and upped their price target for the company from $60.00 to $76.00 in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Cerner currently has an average rating of “Buy” and a consensus target price of $68.67.
Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.06. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.39 billion. Cerner had a net margin of 11.65% and a return on equity of 14.86%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $0.58 EPS. On average, equities analysts forecast that Cerner Co. will post 2.44 EPS for the current fiscal year.
In other Cerner news, Director John J. Greisch bought 9,000 shares of Cerner stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $67.57 per share, for a total transaction of $608,130.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director R Halsey Wise acquired 7,600 shares of Cerner stock in a transaction that occurred on Tuesday, April 30th. The stock was purchased at an average cost of $65.76 per share, for a total transaction of $499,776.00. The disclosure for this purchase can be found here. Insiders own 4.71% of the company’s stock.
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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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