State of Tennessee Treasury Department Decreases Stock Holdings in Cerner Co. (NASDAQ:CERN)

State of Tennessee Treasury Department lowered its stake in shares of Cerner Co. (NASDAQ:CERN) by 41.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 62,576 shares of the company’s stock after selling 43,987 shares during the period. State of Tennessee Treasury Department’s holdings in Cerner were worth $4,290,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CERN. Flagship Harbor Advisors LLC lifted its position in Cerner by 151.5% during the second quarter. Flagship Harbor Advisors LLC now owns 425 shares of the company’s stock valued at $29,000 after purchasing an additional 256 shares during the period. Hoover Financial Advisors Inc. bought a new stake in Cerner in the 2nd quarter worth approximately $34,000. Ellevest Inc. raised its stake in Cerner by 53.0% during the 2nd quarter. Ellevest Inc. now owns 514 shares of the company’s stock valued at $35,000 after buying an additional 178 shares during the last quarter. NewSquare Capital LLC bought a new position in shares of Cerner during the 1st quarter valued at $38,000. Finally, Campbell Wealth Management purchased a new position in shares of Cerner in the 2nd quarter worth $42,000. 83.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cerner stock opened at $72.01 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.04 and a debt-to-equity ratio of 0.33. The firm has a market cap of $22.53 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 2.50 and a beta of 0.81. Cerner Co. has a twelve month low of $53.08 and a twelve month high of $80.90. The business has a 50-day moving average price of $71.78 and a 200-day moving average price of $69.38.

Cerner (NASDAQ:CERN) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.36 billion. Cerner had a return on equity of 18.19% and a net margin of 9.23%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. On average, equities analysts expect that Cerner Co. will post 2.47 EPS for the current fiscal year.

CERN has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Cerner from $58.00 to $62.00 and gave the company an “underweight” rating in a report on Friday, July 31st. BidaskClub lowered shares of Cerner from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 25th. Royal Bank of Canada reiterated a “buy” rating and issued a $80.00 price target on shares of Cerner in a research report on Thursday, July 30th. Zacks Investment Research lowered Cerner from a “buy” rating to a “hold” rating and set a $72.00 price objective for the company. in a research note on Tuesday, August 4th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $88.00 price target on shares of Cerner in a report on Tuesday, August 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $77.48.

In other Cerner news, Director Gerald E. Bisbee, Jr. sold 7,456 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $69.86, for a total transaction of $520,876.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tracy L. Platt sold 6,948 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $71.38, for a total value of $495,948.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,960 shares of company stock worth $2,143,034. 0.33% of the stock is owned by insiders.

Cerner Company Profile

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.

See Also: Net Asset Value

Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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