Cerner Co. (CERN) Stake Lowered by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund reduced its stake in Cerner Co. (NASDAQ:CERN) by 0.5% during the 1st quarter, Holdings Channel reports. The fund owned 68,237 shares of the company’s stock after selling 371 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Cerner were worth $3,904,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Essex Savings Bank acquired a new stake in Cerner during the 4th quarter worth approximately $27,000. Moody National Bank Trust Division increased its position in shares of 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 last quarter. JNBA Financial Advisors purchased a new stake in shares of Cerner in the 4th quarter valued at approximately $34,000. Creative Financial Designs Inc. ADV increased its position in shares of Cerner by 303.4% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 710 shares of the company’s stock valued at $41,000 after purchasing an additional 534 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of Cerner in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.

In other Cerner news, EVP Randy D. Sims sold 48,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $69.27, for a total transaction of $3,324,960.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Julie M. Wilson sold 93,500 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $69.57, for a total transaction of $6,504,795.00. Following the transaction, the executive vice president now directly owns 45,510 shares in the company, valued at $3,166,130.70. The disclosure for this sale can be found here. Insiders sold a total of 151,968 shares of company stock worth $10,552,989 over the last ninety days. Insiders own 4.71% of the company’s stock.

NASDAQ CERN opened at $70.15 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 2.55 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $22.27 billion, a P/E ratio of 31.74, a P/E/G ratio of 2.10 and a beta of 1.03. Cerner Co. has a 12 month low of $48.78 and a 12 month high of $70.76.

Cerner (NASDAQ:CERN) last posted its earnings results on Thursday, April 25th. The company reported $0.61 EPS for the quarter, beating the Zacks’ 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 posted $0.58 EPS. On average, research analysts forecast that Cerner Co. will post 2.44 EPS for the current fiscal year.

A number of equities research analysts have commented on CERN shares. Zacks Investment Research downgraded shares of Cerner from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. BidaskClub raised shares of Cerner from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Barclays reissued a “hold” rating and issued a $68.00 price objective on shares of Cerner in a research report on Wednesday, April 10th. ValuEngine raised shares of Cerner from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, SunTrust Banks raised shares of Cerner from a “hold” rating to a “buy” rating and increased their price objective 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, four have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $69.19.

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Cerner 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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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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