Securian Asset Management Inc lowered its holdings in shares of Cerner Co. (NASDAQ:CERN) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,724 shares of the company’s stock after selling 603 shares during the period. Securian Asset Management Inc’s holdings in Cerner were worth $2,011,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Commonwealth Equity Services LLC raised its stake in shares of Cerner by 1.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 51,094 shares of the company’s stock worth $3,672,000 after buying an additional 561 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Cerner by 378.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 413,441 shares of the company’s stock worth $29,718,000 after buying an additional 327,033 shares in the last quarter. IFM Investors Pty Ltd raised its stake in shares of Cerner by 15.1% in the 1st quarter. IFM Investors Pty Ltd now owns 34,345 shares of the company’s stock worth $2,469,000 after buying an additional 4,510 shares in the last quarter. Wesbanco Bank Inc. bought a new stake in shares of Cerner in the 1st quarter worth $257,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Cerner by 16.6% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 101,803 shares of the company’s stock worth $7,318,000 after buying an additional 14,498 shares in the last quarter. 85.59% of the stock is currently owned by hedge funds and other institutional investors.
In other Cerner news, CAO Michael R. Battaglioli sold 7,000 shares of the business’s stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $80.15, for a total value of $561,050.00. Following the completion of the sale, the chief accounting officer now owns 9,402 shares of the company’s stock, valued at $753,570.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel Devers sold 9,000 shares of the business’s stock in a transaction dated Tuesday, August 24th. The stock was sold at an average price of $77.45, for a total value of $697,050.00. The disclosure for this sale can be found here. Insiders sold 28,739 shares of company stock worth $2,273,398 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.
Cerner (NASDAQ:CERN) last issued its quarterly earnings results on Thursday, July 29th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. Cerner had a return on equity of 18.32% and a net margin of 12.54%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. Cerner’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, sell-side analysts predict that Cerner Co. will post 2.72 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 12th. Stockholders of record on Monday, September 27th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.19%. Cerner’s dividend payout ratio is 35.92%.
A number of analysts have recently commented on the company. Canaccord Genuity boosted their price objective on Cerner from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, August 2nd. Piper Sandler boosted their target price on Cerner from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, July 30th. Morgan Stanley boosted their target price on Cerner from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 31st. Finally, SVB Leerink boosted their target price on Cerner from $83.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $84.40.
Cerner Company Profile
Cerner Corp. designs, develops, markets, installs, hosts and supports health care information technology, health care devices, hardware and content solutions for health care organizations and consumers. The company also provides value-added services, including implementation and training, remote hosting, operational management services, revenue cycle services, support and maintenance, health care data analysis, clinical process optimization, transaction processing, employee wellness programs and third party administrator services for employer-based health plans.
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