Financial Advisory Service Inc. Has $3.42 Million Stake in Cerner Co. (NASDAQ:CERN)

Financial Advisory Service Inc. trimmed its holdings in shares of Cerner Co. (NASDAQ:CERN) by 8.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 46,595 shares of the company’s stock after selling 4,386 shares during the period. Financial Advisory Service Inc.’s holdings in Cerner were worth $3,415,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Parametric Portfolio Associates LLC grew its position in shares of Cerner by 6.0% in the first quarter. Parametric Portfolio Associates LLC now owns 732,099 shares of the company’s stock valued at $41,883,000 after purchasing an additional 41,265 shares during the last quarter. Reinhart Partners Inc. grew its position in shares of Cerner by 3.0% in 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. Creative Planning grew its position in shares of Cerner by 2.1% in the first quarter. Creative Planning now owns 344,682 shares of the company’s stock valued at $19,719,000 after purchasing an additional 6,968 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Cerner by 54.0% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 501,092 shares of the company’s stock valued at $28,667,000 after purchasing an additional 175,676 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its position in shares of Cerner by 8.9% in the first quarter. Kornitzer Capital Management Inc. KS now owns 29,565 shares of the company’s stock valued at $1,691,000 after purchasing an additional 2,405 shares during the last quarter. 83.05% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research downgraded Cerner from a “buy” rating to a “hold” rating and set a $77.00 price target on the stock. in a research report on Monday, July 29th. Citigroup increased their target price on shares of Cerner from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Morgan Stanley set a $49.00 target price on shares of Cerner and gave the company a “sell” rating in a research note on Wednesday, April 10th. Bank of America increased their target price on shares of Cerner from $70.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Finally, ValuEngine upgraded shares of Cerner from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. Cerner has a consensus rating of “Buy” and a consensus target price of $73.36.

Shares of CERN opened at $70.22 on Monday. The company has a market capitalization of $22.60 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 2.03 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. Cerner Co. has a 12 month low of $48.78 and a 12 month high of $76.47. The business’s 50-day simple moving average is $73.27.

Cerner (NASDAQ:CERN) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Cerner had a net margin of 10.75% and a return on equity of 15.14%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 earnings per share. On average, analysts expect that Cerner Co. will post 2.43 earnings per share for the current fiscal year.

The firm also recently declared a special dividend, which was paid on Friday, July 26th. Shareholders of record on Tuesday, June 18th were paid a dividend of $0.18 per share. The ex-dividend date was Monday, June 17th. Cerner’s dividend payout ratio is 32.58%.

In other news, EVP Randy D. Sims sold 48,000 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Randy D. Sims sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $72.45, for a total transaction of $2,898,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 441,468 shares of company stock valued at $30,777,997. Corporate insiders own 0.75% of the company’s stock.

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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