Griffin Asset Management Inc. purchased a new position in Cerner Co. (NASDAQ:CERN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,900 shares of the company’s stock, valued at approximately $635,000.
A number of other institutional investors also recently made changes to their positions in the business. Sei Investments Co. increased its stake in shares of Cerner by 94.8% during the second quarter. Sei Investments Co. now owns 32,363 shares of the company’s stock valued at $2,150,000 after buying an additional 15,753 shares during the period. Global X Management Co. LLC increased its stake in shares of Cerner by 2.2% during the second quarter. Global X Management Co. LLC now owns 10,239 shares of the company’s stock valued at $681,000 after buying an additional 220 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Cerner by 2.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 937,175 shares of the company’s stock valued at $62,295,000 after buying an additional 23,659 shares during the period. Sigma Planning Corp increased its stake in shares of Cerner by 11.7% during the second quarter. Sigma Planning Corp now owns 3,828 shares of the company’s stock valued at $254,000 after buying an additional 400 shares during the period. Finally, Conning Inc. increased its stake in shares of Cerner by 0.8% during the second quarter. Conning Inc. now owns 7,742 shares of the company’s stock valued at $515,000 after buying an additional 58 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cerner Co. (CERN) opened at $70.36 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.75 and a current ratio of 2.77. Cerner Co. has a 1 year low of $47.01 and a 1 year high of $73.86. The firm has a market capitalization of $23,408.66, a P/E ratio of 31.16, a P/E/G ratio of 2.27 and a beta of 0.94.
In related news, CFO Marc G. Naughton sold 60,000 shares of Cerner stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $70.64, for a total transaction of $4,238,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Clifford W. Illig sold 4,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $65.96, for a total value of $263,840.00. Following the completion of the sale, the chairman now directly owns 1,229,719 shares in the company, valued at $81,112,265.24. The disclosure for this sale can be found here. Insiders have sold 734,000 shares of company stock worth $48,411,240 over the last 90 days. 13.11% of the stock is currently owned by corporate insiders.
Several equities analysts have recently issued reports on the company. Royal Bank of Canada reissued a “buy” rating on shares of Cerner in a research note on Wednesday, October 25th. Jefferies Group reissued a “buy” rating on shares of Cerner in a research note on Sunday, October 29th. Piper Jaffray Companies reissued a “buy” rating and set a $70.00 target price 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 reissued 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 assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $69.50.
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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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