Bellwether Advisors LLC reduced its holdings in shares of Cerner Co. (NASDAQ:CERN) by 11.5% in the second quarter, Holdings Channel.com reports. The fund owned 35,895 shares of the company’s stock after selling 4,646 shares during the quarter. Cerner comprises about 1.0% of Bellwether Advisors LLC’s portfolio, making the stock its 27th largest holding. Bellwether Advisors LLC’s holdings in Cerner were worth $2,805,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Barber Financial Group Inc. lifted its position in Cerner by 1.4% during the 2nd quarter. Barber Financial Group Inc. now owns 9,607 shares of the company’s stock worth $751,000 after acquiring an additional 134 shares during the period. First Horizon Advisors Inc. grew its position in shares of Cerner by 2.1% in the second quarter. First Horizon Advisors Inc. now owns 6,947 shares of the company’s stock valued at $542,000 after purchasing an additional 141 shares in the last quarter. Laurel Wealth Advisors Inc. lifted its holdings in Cerner by 4.3% in the first quarter. Laurel Wealth Advisors Inc. now owns 3,544 shares of the company’s stock valued at $255,000 after acquiring an additional 147 shares during the last quarter. Ethic Inc. lifted its stake in Cerner by 4.2% during the second quarter. Ethic Inc. now owns 3,681 shares of the company’s stock worth $288,000 after purchasing an additional 148 shares in the last quarter. Finally, Probity Advisors Inc. increased its position in shares of Cerner by 2.5% during the second quarter. Probity Advisors Inc. now owns 6,067 shares of the company’s stock worth $474,000 after acquiring an additional 150 shares during the period. 85.59% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ CERN traded up $0.33 during mid-day trading on Friday, reaching $74.35. The company had a trading volume of 11,857 shares, compared to its average volume of 2,427,285. Cerner Co. has a twelve month low of $66.75 and a twelve month high of $84.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.63 and a current ratio of 1.65. The stock has a market capitalization of $21.98 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 2.22 and a beta of 0.73. The stock’s 50 day moving average is $77.94 and its 200-day moving average is $76.46.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 12th. Stockholders of record on Monday, September 27th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.18%. Cerner’s dividend payout ratio is 35.92%.
In other Cerner news, EVP Daniel Devers sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 24th. The shares were sold at an average price of $77.45, for a total value of $697,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tracy L. Platt sold 9,989 shares of the company’s stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $79.70, for a total transaction of $796,123.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,739 shares of company stock worth $2,273,398. Insiders own 0.18% of the company’s stock.
CERN has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on shares of Cerner from $70.00 to $75.00 and gave the company an “underweight” rating in a research report on Tuesday, August 31st. Canaccord Genuity lifted their target price on Cerner from $89.00 to $90.00 and gave the company a “buy” rating in a report on Monday, August 2nd. SVB Leerink boosted their price objective on Cerner from $83.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, August 2nd. Finally, Piper Sandler boosted their price objective on Cerner from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $84.40.
Cerner Company Profile
Cerner Corp. designs, develops, markets, installs, hosts and supports health care information technology, health care devices, hardware and content solutions for health care organizations and consumers. The company also provides value-added services, including implementation and training, remote hosting, operational management services, revenue cycle services, support and maintenance, health care data analysis, clinical process optimization, transaction processing, employee wellness programs and third party administrator services for employer-based health plans.
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