Edge Wealth Management LLC Acquires 6,026 Shares of Cerner Co. (NASDAQ:CERN)


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Edge Wealth Management LLC grew its holdings in Cerner Co. (NASDAQ:CERN) by 5.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 112,500 shares of the company’s stock after purchasing an additional 6,026 shares during the quarter. Cerner makes up 1.7% of Edge Wealth Management LLC’s investment portfolio, making the stock its 22nd largest position. Edge Wealth Management LLC’s holdings in Cerner were worth $8,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Childress Capital Advisors LLC acquired a new position in shares of Cerner during the 4th quarter valued at about $27,000. CX Institutional grew its holdings in Cerner by 79.1% during the fourth quarter. CX Institutional now owns 394 shares of the company’s stock valued at $31,000 after purchasing an additional 174 shares during the last quarter. Grant Street Asset Management Inc. bought a new position in shares of Cerner in the fourth quarter valued at approximately $31,000. Cowa LLC acquired a new stake in shares of Cerner in the fourth quarter worth $32,000. Finally, Addison Advisors LLC bought a new stake in shares of Cerner during the 4th quarter worth $33,000. Institutional investors own 83.01% of the company’s stock.

In other news, CFO Mark J. Erceg bought 10,761 shares of the stock in a transaction dated Wednesday, March 3rd. The shares were acquired at an average price of $69.66 per share, with a total value of $749,611.26. Also, CFO Mark J. Erceg bought 10,547 shares of the company’s stock in a transaction that occurred on Wednesday, March 10th. The shares were purchased at an average price of $71.13 per share, with a total value of $750,208.11. Over the last three months, insiders bought 31,963 shares of company stock valued at $2,250,251. 0.33% of the stock is currently owned by insiders.

Cerner stock traded up $0.59 on Friday, hitting $72.79. The company’s stock had a trading volume of 2,293,262 shares, compared to its average volume of 2,386,946. Cerner Co. has a one year low of $63.11 and a one year high of $84.20. The firm has a market cap of $22.00 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 2.35 and a beta of 0.76. The company has a quick ratio of 2.28, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average price of $71.34 and a 200-day moving average price of $74.42.

Cerner (NASDAQ:CERN) last posted its earnings results on Tuesday, February 9th. The company reported $0.78 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.78. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Cerner had a net margin of 14.28% and a return on equity of 18.14%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Analysts anticipate that Cerner Co. will post 2.47 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 20th. Stockholders of record on Tuesday, April 6th will be issued a $0.22 dividend. The ex-dividend date is Monday, April 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.21%. Cerner’s payout ratio is presently 36.51%.

A number of research analysts have weighed in on CERN shares. Bank of America lowered shares of Cerner from a “buy” rating to an “underperform” rating in a research report on Tuesday, January 19th. Truist increased their target price on Cerner from $72.00 to $82.00 in a research note on Thursday, February 11th. Piper Sandler lifted their price target on Cerner from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 16th. Morgan Stanley increased their price objective on Cerner from $64.00 to $70.00 and gave the company an “underweight” rating in a research report on Thursday, February 11th. Finally, Canaccord Genuity boosted their target price on shares of Cerner from $81.00 to $89.00 and gave the stock a “buy” rating in a research report on Thursday, January 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. Cerner currently has an average rating of “Hold” and a consensus price target of $80.00.

Cerner Company Profile

Cerner Corporation, together with its subsidiaries, 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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