Mutual of America Capital Management LLC grew its position in shares of Cerner Co. (NASDAQ:CERN) by 23.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 48,642 shares of the company’s stock after acquiring an additional 9,278 shares during the period. Mutual of America Capital Management LLC’s holdings in Cerner were worth $3,430,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Cerner by 9.2% during the 3rd quarter. BlackRock Inc. now owns 26,150,047 shares of the company’s stock valued at $1,844,101,000 after purchasing an additional 2,198,317 shares during the last quarter. State Street Corp increased its position in shares of Cerner by 0.9% during the 2nd quarter. State Street Corp now owns 13,827,894 shares of the company’s stock valued at $1,083,726,000 after purchasing an additional 122,658 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Cerner by 38,761.2% during the 2nd quarter. Macquarie Group Ltd. now owns 9,714,923 shares of the company’s stock valued at $759,319,000 after purchasing an additional 9,689,924 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cerner by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 6,039,762 shares of the company’s stock valued at $471,038,000 after purchasing an additional 152,017 shares during the last quarter. Finally, Morgan Stanley grew its position in Cerner by 28.9% during the 2nd quarter. Morgan Stanley now owns 4,624,178 shares of the company’s stock worth $361,425,000 after acquiring an additional 1,035,549 shares during the last quarter. Hedge funds and other institutional investors own 85.57% of the company’s stock.
Several equities analysts recently issued reports on CERN shares. lowered Cerner from a “buy” rating to a “hold” rating in a research report on Monday, December 20th. Robert W. Baird started coverage on Cerner in a research report on Tuesday, November 16th. They issued a “neutral” rating and a $82.00 price objective on the stock. Zacks Investment Research upgraded Cerner from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Monday, December 6th. Edward Jones lowered Cerner from a “buy” rating to a “hold” rating in a research report on Monday, December 20th. Finally, Royal Bank of Canada lowered Cerner from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $86.00 to $95.00 in a research report on Monday, December 20th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $86.64.
CERN opened at $91.70 on Friday. The stock has a market cap of $26.98 billion, a PE ratio of 53.31, a PEG ratio of 2.31 and a beta of 0.85. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average of $83.40 and a 200-day moving average of $78.34. Cerner Co. has a 52 week low of $67.96 and a 52 week high of $93.44.
Cerner (NASDAQ:CERN) last released its earnings results on Thursday, October 28th. The company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Cerner had a return on equity of 19.54% and a net margin of 9.15%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. Equities analysts anticipate that Cerner Co. will post 2.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 11th. Shareholders of record on Monday, December 27th were paid a dividend of $0.27 per share. This is a boost from Cerner’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, December 23rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.18%. Cerner’s payout ratio is presently 62.79%.
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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