Public Employees Retirement System of Ohio Has $17.18 Million Position in Cerner Co. (CERN)
Public Employees Retirement System of Ohio trimmed its holdings in Cerner Co. (NASDAQ:CERN) by 1.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 240,813 shares of the company’s stock after selling 3,869 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.07% of Cerner worth $17,175,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Andra AP fonden lifted its stake in Cerner by 45.8% during the second quarter. Andra AP fonden now owns 30,900 shares of the company’s stock worth $2,054,000 after purchasing an additional 9,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Cerner by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 697,200 shares of the company’s stock worth $46,342,000 after purchasing an additional 47,812 shares in the last quarter. State Farm Mutual Automobile Insurance Co. lifted its stake in Cerner by 381.0% during the second quarter. State Farm Mutual Automobile Insurance Co. now owns 429,846 shares of the company’s stock worth $28,572,000 after purchasing an additional 340,486 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Cerner by 2.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 937,175 shares of the company’s stock worth $62,295,000 after purchasing an additional 23,659 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Cerner by 16.1% during the second quarter. Victory Capital Management Inc. now owns 31,298 shares of the company’s stock worth $2,080,000 after purchasing an additional 4,340 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.
In other Cerner news, CEO Clifford W. Illig sold 140,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $65.52, for a total value of $9,172,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,229,719 shares in the company, valued at approximately $80,571,188.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Clifford W. Illig sold 530,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $65.54, for a total value of $34,736,200.00. Following the completion of the transaction, the chairman now owns 1,229,719 shares of the company’s stock, valued at $80,595,783.26. The disclosure for this sale can be found here. Insiders have sold a total of 788,000 shares of company stock valued at $52,190,800 over the last 90 days. Insiders own 13.11% of the company’s stock.
A number of research analysts have commented on the company. Royal Bank of Canada restated a “buy” rating on shares of Cerner in a research note on Wednesday, October 25th. Jefferies Group reiterated a “buy” rating on shares of Cerner in a research note on Sunday, October 29th. Piper Jaffray Companies reiterated a “buy” rating and issued a $70.00 price objective on shares of Cerner in a research note on Thursday, November 30th. Zacks Investment Research cut Cerner from a “buy” rating to a “sell” rating in a research note on Tuesday, October 31st. Finally, Leerink Swann reiterated a “hold” rating on shares of Cerner in a research note on Saturday, November 25th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $69.50.
Shares of Cerner Co. (CERN) opened at $69.42 on Monday. Cerner Co. has a 12-month low of $47.09 and a 12-month high of $73.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.75 and a current ratio of 2.77. The stock has a market cap of $23,076.25, a P/E ratio of 30.72, a PEG ratio of 2.24 and a beta of 0.94.
Cerner (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). Cerner had a net margin of 13.37% and a return on equity of 18.03%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the business posted $0.59 earnings per share. Cerner’s revenue was up 7.7% on a year-over-year basis. sell-side analysts anticipate that Cerner Co. will post 2.25 earnings per share for the current year.
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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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