Rockefeller Capital Management L.P. Has $99.35 Million Holdings in Cerner Co. (CERN)
Rockefeller Capital Management L.P. reduced its position in Cerner Co. (NASDAQ:CERN) by 0.5% during the 1st quarter, Holdings Channel reports. The firm owned 1,736,602 shares of the company’s stock after selling 9,591 shares during the period. Cerner accounts for about 1.4% of Rockefeller Capital Management L.P.’s portfolio, making the stock its 20th biggest position. Rockefeller Capital Management L.P.’s holdings in Cerner were worth $99,351,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nelson Roberts Investment Advisors LLC purchased a new position in Cerner in the first quarter worth $25,000. Essex Savings Bank acquired a new stake in shares of Cerner during the fourth quarter worth $27,000. Moody National Bank Trust Division lifted its stake in shares of Cerner by 72.5% during the first quarter. Moody National Bank Trust Division now owns 483 shares of the company’s stock worth $28,000 after buying an additional 203 shares during the period. JNBA Financial Advisors acquired a new stake in shares of Cerner during the fourth quarter worth $34,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Cerner by 303.4% during the first quarter. Creative Financial Designs Inc. ADV now owns 710 shares of the company’s stock worth $41,000 after buying an additional 534 shares during the period. 81.68% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on CERN shares. Zacks Investment Research upgraded shares of Cerner from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. BidaskClub upgraded shares of Cerner from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Morgan Stanley downgraded shares of Cerner from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $68.00 to $47.00 in a research note on Thursday, February 28th. Cantor Fitzgerald reiterated a “buy” rating and set a $75.00 price objective on shares of Cerner in a research note on Tuesday, April 9th. Finally, SunTrust Banks upgraded shares of Cerner from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $76.00 in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Cerner currently has an average rating of “Buy” and an average price target of $69.53.
NASDAQ CERN traded up $1.08 on Tuesday, reaching $70.16. 22,390 shares of the company’s stock traded hands, compared to its average volume of 2,465,339. The company has a market capitalization of $22.77 billion, a PE ratio of 31.68, a P/E/G ratio of 2.13 and a beta of 0.88. Cerner Co. has a fifty-two week low of $48.78 and a fifty-two week high of $71.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.58 and a quick ratio of 2.55.
Cerner (NASDAQ:CERN) last posted its earnings results on Thursday, April 25th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.06. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.39 billion. Cerner had a net margin of 11.65% and a return on equity of 14.86%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share. Research analysts expect that Cerner Co. will post 2.44 earnings per share for the current year.
The firm also recently announced a special dividend, which will be paid on Friday, July 26th. Investors of record on Tuesday, June 18th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 17th.
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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