Pictet Asset Management SA lessened its stake in Cerner Co. (NASDAQ:CERN – Get Rating) by 72.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,414 shares of the company’s stock after selling 389,561 shares during the quarter. Pictet Asset Management SA’s holdings in Cerner were worth $13,597,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in CERN. Alpine Associates Management Inc. acquired a new stake in Cerner in the 4th quarter valued at about $185,871,000. Versor Investments LP grew its stake in Cerner by 6,666.6% in the 4th quarter. Versor Investments LP now owns 1,145,591 shares of the company’s stock valued at $106,391,000 after acquiring an additional 1,128,661 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Cerner in the 4th quarter valued at about $89,543,000. American Century Companies Inc. grew its stake in Cerner by 7.4% in the 4th quarter. American Century Companies Inc. now owns 9,148,754 shares of the company’s stock valued at $849,644,000 after acquiring an additional 626,551 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Cerner by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,662,774 shares of the company’s stock valued at $469,000,000 after acquiring an additional 623,012 shares during the last quarter. Institutional investors and hedge funds own 82.23% of the company’s stock.
A number of equities research analysts recently commented on CERN shares. Argus cut shares of Cerner from a “buy” rating to a “hold” rating in a research note on Monday, April 11th. StockNews.com initiated coverage on shares of Cerner in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $87.38.
CERN opened at $93.97 on Thursday. The company’s 50 day simple moving average is $93.66 and its 200 day simple moving average is $88.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.77 and a current ratio of 1.79. Cerner Co. has a 1 year low of $69.08 and a 1 year high of $94.46. The stock has a market capitalization of $27.64 billion, a PE ratio of 47.22, a P/E/G ratio of 2.35 and a beta of 0.77.
Cerner (NASDAQ:CERN – Get Rating) last released its earnings results on Tuesday, May 3rd. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.03. Cerner had a net margin of 10.15% and a return on equity of 22.86%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the company earned $0.76 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts expect that Cerner Co. will post 3.13 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 19th. Investors of record on Monday, March 28th were given a $0.27 dividend. The ex-dividend date was Friday, March 25th. This represents a $1.08 annualized dividend and a dividend yield of 1.15%. Cerner’s dividend payout ratio is presently 54.27%.
Cerner Company Profile (Get Rating)
Cerner Corporation, together with its subsidiaries, provides health care information technology solutions and tech-enabled services in the United States and internationally. It 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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