Duality Advisers LP Purchases New Stake in Cerner Co. (NASDAQ:CERN)

Duality Advisers LP bought a new position in Cerner Co. (NASDAQ:CERN) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 36,880 shares of the company’s stock, valued at approximately $2,110,000.

A number of other institutional investors also recently made changes to their positions in CERN. Nelson Roberts Investment Advisors LLC bought a new stake in shares of Cerner during the first quarter valued at approximately $25,000. Moody National Bank Trust Division raised its stake in shares of Cerner by 72.5% during the first quarter. Moody National Bank Trust Division now owns 483 shares of the company’s stock valued at $28,000 after acquiring an additional 203 shares in the last quarter. Essex Savings Bank bought a new stake in shares of Cerner during the fourth quarter valued at approximately $27,000. JNBA Financial Advisors bought a new stake in shares of Cerner during the fourth quarter valued at approximately $34,000. Finally, Creative Financial Designs Inc. ADV raised its stake in Cerner by 303.4% in the first quarter. Creative Financial Designs Inc. ADV now owns 710 shares of the company’s stock worth $41,000 after buying an additional 534 shares in the last quarter. 81.64% of the stock is currently owned by institutional investors.

A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Cerner from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. BidaskClub upgraded shares of Cerner from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cerner in a research report on Monday, April 29th. Robert W. Baird upped their price objective on shares of Cerner from $67.00 to $71.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Bank of America upped their price objective on shares of Cerner from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $69.29.

In other news, Director R Halsey Wise bought 7,600 shares of the stock in a transaction dated Tuesday, April 30th. The shares were acquired at an average price of $65.76 per share, with a total value of $499,776.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michael R. Battaglioli sold 10,468 shares of Cerner stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $69.09, for a total transaction of $723,234.12. Following the completion of the sale, the chief accounting officer now directly owns 8,226 shares in the company, valued at approximately $568,334.34. The disclosure for this sale can be found here. Insiders have sold a total of 441,468 shares of company stock worth $30,777,997 over the last three months. 4.71% of the stock is currently owned by insiders.

CERN stock traded up $0.97 during midday trading on Monday, hitting $74.27. The company’s stock had a trading volume of 2,250,505 shares, compared to its average volume of 2,551,732. The company has a quick ratio of 2.55, a current ratio of 2.58 and a debt-to-equity ratio of 0.09. Cerner Co. has a 52-week low of $48.78 and a 52-week high of $74.42. The company has a market cap of $24.11 billion, a price-to-earnings ratio of 33.61, a P/E/G ratio of 2.23 and a beta of 0.89. The firm has a 50-day moving average of $71.04.

Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.06. Cerner had a net margin of 11.65% and a return on equity of 14.86%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the business earned $0.58 EPS. The company’s revenue was up 7.5% on a year-over-year basis. On average, research analysts expect that Cerner Co. will post 2.44 earnings per share for the current year.

The firm also recently disclosed a special dividend, which will be paid on Friday, July 26th. Shareholders of record on Tuesday, June 18th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 17th. Cerner’s payout ratio is currently 32.58%.

Cerner Company Profile

Cerner Corporation 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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