Brown Brothers Harriman & Co. lessened its position in Cerner Co. (NASDAQ:CERN) by 31.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,713 shares of the company’s stock after selling 4,909 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Cerner were worth $837,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. CSat Investment Advisory L.P. increased its position in shares of Cerner by 53.9% during the 1st quarter. CSat Investment Advisory L.P. now owns 528 shares of the company’s stock worth $38,000 after purchasing an additional 185 shares during the last quarter. CX Institutional boosted its stake in shares of Cerner by 141.3% during the 2nd quarter. CX Institutional now owns 724 shares of the company’s stock worth $57,000 after acquiring an additional 424 shares during the period. Vigilant Capital Management LLC boosted its stake in shares of Cerner by 180.3% during the 2nd quarter. Vigilant Capital Management LLC now owns 1,121 shares of the company’s stock worth $88,000 after acquiring an additional 721 shares during the period. Advisory Services Network LLC bought a new position in shares of Cerner during the 2nd quarter worth approximately $93,000. Finally, Capital Analysts LLC boosted its stake in shares of Cerner by 38.5% during the 1st quarter. Capital Analysts LLC now owns 1,337 shares of the company’s stock worth $96,000 after acquiring an additional 372 shares during the period. 85.59% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Tracy L. Platt sold 9,989 shares of the business’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $79.70, for a total transaction of $796,123.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Devers sold 9,000 shares of the business’s stock in a transaction on 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. Over the last quarter, insiders have sold 28,739 shares of company stock valued at $2,273,398. Corporate insiders own 0.18% of the company’s stock.
Cerner (NASDAQ:CERN) last released its 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. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.44 billion. Cerner had a return on equity of 18.32% and a net margin of 12.54%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. Equities analysts anticipate that Cerner Co. will post 2.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 12th. Stockholders of record on Monday, September 27th were given a dividend of $0.22 per share. The ex-dividend date was Friday, September 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.24%. Cerner’s payout ratio is 35.92%.
Several brokerages have recently commented on CERN. Piper Sandler lifted their target price on Cerner from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. SVB Leerink lifted their target price on Cerner from $83.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, August 2nd. Canaccord Genuity boosted their price target on Cerner from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, August 2nd. Finally, Morgan Stanley boosted their price target on Cerner from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Tuesday, August 31st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price 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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