Kestra Advisory Services LLC cut its position in shares of Cerner Co. (NASDAQ:CERN) by 22.2% during the first quarter, Holdings Channel reports. The institutional investor owned 5,953 shares of the company’s stock after selling 1,703 shares during the quarter. Kestra Advisory Services LLC’s holdings in Cerner were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Childress Capital Advisors LLC acquired a new position in Cerner in the 4th quarter valued at approximately $27,000. Grant Street Asset Management Inc. bought a new stake in shares of Cerner during the fourth quarter valued at approximately $31,000. Cowa LLC acquired a new position in shares of Cerner in the fourth quarter valued at $32,000. GPS Wealth Strategies Group LLC bought a new position in Cerner in the first quarter worth $37,000. Finally, TD Ameritrade Investment Management LLC bought a new position in Cerner in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.
A number of equities analysts have recently issued reports on CERN shares. Truist increased their price objective on shares of Cerner from $72.00 to $82.00 in a research note on Thursday, February 11th. SVB Leerink dropped their price target on shares of Cerner from $86.00 to $83.00 and set an “outperform” rating for the company in a research report on Thursday, May 6th. Piper Sandler lifted their price objective on Cerner from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, February 16th. KeyCorp upped their price objective on Cerner from $82.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 11th. Finally, UBS Group downgraded Cerner from a “buy” rating to a “neutral” rating and set a $82.00 target price for the company. in a research report on Thursday, February 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Cerner presently has a consensus rating of “Buy” and a consensus target price of $81.79.
Cerner (NASDAQ:CERN) last announced its earnings results on Wednesday, May 5th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Cerner had a return on equity of 17.45% and a net margin of 14.69%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Cerner Co. will post 2.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 13th. Shareholders of record on Monday, June 28th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, June 25th. Cerner’s dividend payout ratio is presently 35.92%.
In related news, CAO Michael R. Battaglioli sold 5,480 shares of the firm’s stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $77.06, for a total value of $422,288.80. Following the transaction, the chief accounting officer now owns 3,882 shares in the company, valued at $299,146.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Brent Shafer sold 88,729 shares of Cerner stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $76.36, for a total value of $6,775,346.44. Following the completion of the sale, the chief executive officer now owns 88,729 shares of the company’s stock, valued at $6,775,346.44. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.
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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