Cerner Co. (CERN) Shares Bought by Kalos Management Inc.
Kalos Management Inc. grew its position in shares of Cerner Co. (NASDAQ:CERN) by 32.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,155 shares of the company’s stock after purchasing an additional 3,254 shares during the period. Kalos Management Inc.’s holdings in Cerner were worth $938,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Cerner by 3.1% during the second quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock worth $1,947,341,000 after purchasing an additional 876,919 shares during the last quarter. BlackRock Inc. lifted its stake in Cerner by 0.8% during the second quarter. BlackRock Inc. now owns 18,436,042 shares of the company’s stock worth $1,225,441,000 after purchasing an additional 137,320 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Cerner by 19.0% during the second quarter. Bank of New York Mellon Corp now owns 17,546,618 shares of the company’s stock worth $1,166,325,000 after purchasing an additional 2,800,955 shares during the last quarter. FMR LLC lifted its stake in Cerner by 0.8% during the second quarter. FMR LLC now owns 5,652,931 shares of the company’s stock worth $375,750,000 after purchasing an additional 43,521 shares during the last quarter. Finally, Capital International Investors lifted its stake in Cerner by 0.3% during the third quarter. Capital International Investors now owns 4,851,296 shares of the company’s stock worth $345,994,000 after purchasing an additional 12,178 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.
In other Cerner news, CFO Marc G. Naughton sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $70.64, for a total transaction of $4,238,400.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Michael Nill sold 99,470 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total value of $7,007,661.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 833,470 shares of company stock worth $55,418,902. 13.11% of the stock is owned by company insiders.
Cerner Co. (NASDAQ:CERN) opened at $70.42 on Monday. Cerner Co. has a twelve month low of $47.01 and a twelve month high of $73.86. The stock has a market capitalization of $23,408.66, a PE ratio of 31.16, a P/E/G ratio of 2.27 and a beta of 0.94. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11.
Cerner (NASDAQ:CERN) last announced its quarterly 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). Cerner had a net margin of 13.37% and a return on equity of 18.03%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. equities analysts forecast that Cerner Co. will post 2.25 earnings per share for the current year.
CERN has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating and set a $77.00 price target on shares of Cerner in a research note on Tuesday, October 10th. KeyCorp reaffirmed a “buy” rating and set a $76.00 price target on shares of Cerner in a research note on Friday, September 22nd. Robert W. Baird reiterated a “hold” rating and issued a $67.00 price objective on shares of Cerner in a report on Thursday, August 31st. SunTrust Banks reiterated a “buy” rating and issued a $79.00 price objective on shares of Cerner in a report on Thursday, October 19th. Finally, Zacks Investment Research downgraded Cerner from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the stock. Cerner currently has an average rating of “Hold” and an average price target of $69.50.
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Cerner Company Profile
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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