Bristol John W & Co. Inc. NY Has $69.17 Million Position in Cerner Co. (CERN)
Bristol John W & Co. Inc. NY decreased its position in Cerner Co. (NASDAQ:CERN) by 4.5% during the 4th quarter, HoldingsChannel reports. The fund owned 1,026,419 shares of the company’s stock after selling 47,843 shares during the quarter. Cerner makes up 2.0% of Bristol John W & Co. Inc. NY’s portfolio, making the stock its 28th biggest holding. Bristol John W & Co. Inc. NY’s holdings in Cerner were worth $69,170,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of CERN. Pacad Investment Ltd. acquired a new stake in Cerner in the second quarter valued at approximately $130,000. Commonwealth Bank of Australia raised its holdings in Cerner by 7.0% in the second quarter. Commonwealth Bank of Australia now owns 17,847 shares of the company’s stock valued at $1,185,000 after acquiring an additional 1,162 shares in the last quarter. Franklin Resources Inc. increased its stake in Cerner by 0.9% in the second quarter. Franklin Resources Inc. now owns 982,194 shares of the company’s stock valued at $65,287,000 after purchasing an additional 9,213 shares during the last quarter. Raymond James Trust N.A. purchased a new position in Cerner in the second quarter valued at approximately $203,000. Finally, Teachers Advisors LLC increased its stake in Cerner by 13.8% in the second quarter. Teachers Advisors LLC now owns 1,449,352 shares of the company’s stock valued at $96,338,000 after purchasing an additional 175,949 shares during the last quarter. 81.82% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Clifford W. Illig sold 140,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $65.52, for a total transaction of $9,172,800.00. Following the transaction, the chief executive officer now directly owns 1,229,719 shares in the company, valued at $80,571,188.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Zane M. Burke sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $70.00, for a total transaction of $3,500,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 788,000 shares of company stock worth $52,190,800. Insiders own 13.11% of the company’s stock.
Cerner Co. (CERN) opened at $72.35 on Thursday. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11. The stock has a market cap of $24,050.00, a P/E ratio of 36.00, a PEG ratio of 2.11 and a beta of 0.94. Cerner Co. has a 1 year low of $49.27 and a 1 year high of $73.86.
Cerner (NASDAQ:CERN) last announced its earnings results on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Cerner had a return on equity of 18.03% and a net margin of 13.37%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. research analysts predict that Cerner Co. will post 2.24 EPS for the current year.
Several equities analysts have commented on CERN shares. Royal Bank of Canada reiterated a “buy” rating on shares of Cerner in a research note on Wednesday, October 25th. SunTrust Banks reiterated a “buy” rating and issued a $79.00 price target on shares of Cerner in a research note on Thursday, October 19th. Zacks Investment Research upgraded shares of Cerner from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research note on Tuesday, October 17th. Jefferies Group set a $79.00 price target on shares of Cerner and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $77.00 price target on shares of Cerner in a research note on Thursday, October 12th. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $69.83.
Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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