Korea Investment CORP lifted its holdings in shares of Cerner Co. (NASDAQ:CERN) by 34.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 331,231 shares of the company’s stock after acquiring an additional 85,300 shares during the period. Korea Investment CORP owned approximately 0.11% of Cerner worth $25,889,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. CSat Investment Advisory L.P. increased its position in shares of Cerner by 53.9% during the first quarter. CSat Investment Advisory L.P. now owns 528 shares of the company’s stock worth $38,000 after acquiring an additional 185 shares in the last quarter. Jacobi Capital Management LLC increased its position in shares of Cerner by 47.8% during the first quarter. Jacobi Capital Management LLC now owns 677 shares of the company’s stock worth $49,000 after acquiring an additional 219 shares in the last quarter. CX Institutional grew its position in Cerner by 141.3% in the 2nd quarter. CX Institutional now owns 724 shares of the company’s stock worth $57,000 after purchasing an additional 424 shares in the last quarter. Vigilant Capital Management LLC grew its position in Cerner by 180.3% in the 2nd quarter. Vigilant Capital Management LLC now owns 1,121 shares of the company’s stock worth $88,000 after purchasing an additional 721 shares in the last quarter. Finally, Clean Yield Group bought a new stake in Cerner in the 2nd quarter worth about $98,000. 85.59% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on the stock. SVB Leerink upped their price objective on shares of Cerner from $83.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, August 2nd. Morgan Stanley upped their price objective on shares of Cerner from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 31st. Canaccord Genuity upped their price objective on shares of Cerner from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. Finally, Piper Sandler upped their price objective on shares of Cerner from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, July 30th. Two equities research analysts have rated the stock with a sell rating, one has issued 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 target price of $84.40.
Cerner stock opened at $72.98 on Friday. Cerner Co. has a twelve month low of $66.92 and a twelve month high of $84.20. The firm has a 50 day moving average price of $77.25 and a 200-day moving average price of $76.62. The company has a market capitalization of $21.57 billion, a P/E ratio of 31.87, a P/E/G ratio of 2.22 and a beta of 0.73. The company has a quick ratio of 1.63, a current ratio of 1.65 and a debt-to-equity ratio of 0.40.
Cerner (NASDAQ:CERN) last announced its quarterly earnings results on Thursday, July 29th. The company reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.04. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Cerner had a net margin of 12.54% and a return on equity of 18.32%. Cerner’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 expect that Cerner Co. will post 2.72 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 12th. Investors of record on Monday, September 27th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Friday, September 24th. Cerner’s payout ratio is currently 35.92%.
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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