Oppenheimer & Co. Inc. trimmed its stake in shares of Cerner Co. (NASDAQ:CERN) by 29.5% in the fourth quarter, HoldingsChannel reports. The firm owned 18,866 shares of the company’s stock after selling 7,888 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cerner were worth $1,271,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in CERN. Advisory Services Network LLC increased its position in Cerner by 4.4% in the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after acquiring an additional 70 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in Cerner in the 3rd quarter valued at approximately $121,000. Cerebellum GP LLC acquired a new position in Cerner in the 4th quarter valued at approximately $127,000. Steward Partners Investment Advisory LLC acquired a new position in Cerner in the 3rd quarter valued at approximately $128,000. Finally, Fort Pitt Capital Group LLC acquired a new position in Cerner in the 3rd quarter valued at approximately $205,000. Institutional investors and hedge funds own 81.58% of the company’s stock.
CERN has been the subject of several recent research reports. Royal Bank of Canada restated a “buy” rating and issued a $74.00 price target on shares of Cerner in a research report on Wednesday, November 22nd. Piper Jaffray Companies restated a “buy” rating and issued a $70.00 price target on shares of Cerner in a research report on Wednesday, November 22nd. SunTrust Banks restated a “buy” rating and issued a $75.00 price target on shares of Cerner in a research report on Monday, October 30th. Jefferies Group restated a “buy” rating on shares of Cerner in a research report on Sunday, October 29th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $75.00 price target on shares of Cerner in a research report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $67.05.
Shares of Cerner Co. (NASDAQ CERN) opened at $64.22 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.01 and a quick ratio of 2.99. Cerner Co. has a 12 month low of $54.01 and a 12 month high of $73.86. The company has a market cap of $21,359.38, a price-to-earnings ratio of 24.99, a PEG ratio of 1.92 and a beta of 0.90.
Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.03). Cerner had a net margin of 16.86% and a return on equity of 16.82%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. sell-side analysts anticipate that Cerner Co. will post 2.42 earnings per share for the current year.
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Cerner Company Profile
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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