DNB Asset Management AS decreased its position in Cerner Co. (NASDAQ:CERN) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,306 shares of the company’s stock after selling 4,818 shares during the period. DNB Asset Management AS owned about 0.05% of Cerner worth $9,457,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of CERN. Bank of New York Mellon Corp boosted its holdings in shares of Cerner by 191,922.4% in the third quarter. Bank of New York Mellon Corp now owns 15,043,035 shares of the company’s stock valued at $968,920,000 after acquiring an additional 15,035,201 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Cerner by 4,852.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,597,804 shares of the company’s stock worth $69,000 after buying an additional 3,525,157 shares in the last quarter. Norges Bank purchased a new stake in Cerner during the fourth quarter worth about $155,781,000. Parnassus Investments CA boosted its holdings in Cerner by 36.5% during the fourth quarter. Parnassus Investments CA now owns 9,829,823 shares of the company’s stock worth $515,476,000 after buying an additional 2,626,045 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Cerner by 5.4% during the fourth quarter. BlackRock Inc. now owns 22,078,769 shares of the company’s stock worth $1,157,811,000 after buying an additional 1,122,165 shares in the last quarter. 80.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of CERN opened at $68.47 on Friday. The company has a quick ratio of 2.55, a current ratio of 2.58 and a debt-to-equity ratio of 0.09. The stock has a market cap of $22.28 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 2.04 and a beta of 1.03. Cerner Co. has a 12-month low of $48.78 and a 12-month high of $69.34.
CERN has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Cerner from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. Morgan Stanley downgraded shares of Cerner from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $68.00 to $47.00 in a report on Thursday, February 28th. ValuEngine raised shares of Cerner from a “hold” rating to a “buy” rating in a report on Wednesday. BidaskClub cut shares of Cerner from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Finally, Barclays restated a “hold” rating and set a $68.00 target price on shares of Cerner in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $68.67.
In other news, Director R Halsey Wise acquired 7,600 shares of the business’s stock in a transaction dated 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John J. Greisch acquired 9,000 shares of the business’s stock in a transaction dated 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.
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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