Davis R M Inc. Has $45.31 Million Position in Cerner Co. (NASDAQ:CERN)
Davis R M Inc. increased its stake in shares of Cerner Co. (NASDAQ:CERN) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 617,428 shares of the company’s stock after buying an additional 3,286 shares during the quarter. Cerner comprises approximately 1.5% of Davis R M Inc.’s investment portfolio, making the stock its 22nd biggest position. Davis R M Inc. owned about 0.20% of Cerner worth $45,313,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in CERN. Wetherby Asset Management Inc. raised its stake in shares of Cerner by 5.5% during the third quarter. Wetherby Asset Management Inc. now owns 3,330 shares of the company’s stock valued at $227,000 after acquiring an additional 174 shares during the last quarter. Clarius Group LLC grew its stake in shares of Cerner by 6.3% in the 3rd quarter. Clarius Group LLC now owns 3,245 shares of the company’s stock worth $221,000 after buying an additional 192 shares in the last quarter. Signaturefd LLC lifted its holdings in Cerner by 26.8% during the 3rd quarter. Signaturefd LLC now owns 937 shares of the company’s stock valued at $64,000 after buying an additional 198 shares in the last quarter. Enterprise Financial Services Corp raised its holdings in shares of Cerner by 142.8% in the 3rd quarter. Enterprise Financial Services Corp now owns 420 shares of the company’s stock valued at $29,000 after purchasing an additional 247 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its position in Cerner by 185.9% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 386 shares of the company’s stock worth $26,000 after purchasing an additional 251 shares during the last quarter. Institutional investors own 81.69% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Piper Jaffray Companies set a $78.00 price objective on shares of Cerner and gave the company a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada assumed coverage on shares of Cerner in a report on Wednesday, November 27th. They issued an “outperform” rating and a $80.00 target price on the stock. Wells Fargo & Co raised their price objective on shares of Cerner from $80.00 to $83.50 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. SunTrust Banks raised their target price on shares of Cerner from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, UBS Group started coverage on shares of Cerner in a research report on Tuesday, November 26th. They set a “buy” rating and a $84.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $77.79.
Cerner (NASDAQ:CERN) last announced its earnings results on Thursday, October 24th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. Cerner had a return on equity of 15.61% and a net margin of 9.02%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company earned $0.63 EPS. Cerner’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Cerner Co. will post 2.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Friday, December 27th were paid a $0.18 dividend. The ex-dividend date was Thursday, December 26th. This represents a $0.72 annualized dividend and a dividend yield of 0.95%. Cerner’s dividend payout ratio is presently 32.58%.
In other news, EVP John Peterzalek sold 29,665 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $70.70, for a total transaction of $2,097,315.50. Also, CAO Michael R. Battaglioli sold 10,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $72.06, for a total transaction of $720,600.00. Following the transaction, the chief accounting officer now owns 6,226 shares of the company’s stock, valued at $448,645.56. The disclosure for this sale can be found here. Insiders have sold a total of 121,437 shares of company stock valued at $8,426,657 in the last quarter. Company insiders own 0.75% of the company’s stock.
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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