Korea Investment CORP Purchases 95,500 Shares of Cerner Co. (NASDAQ:CERN)

Korea Investment CORP boosted its position in Cerner Co. (NASDAQ:CERN) by 41.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 326,931 shares of the company’s stock after acquiring an additional 95,500 shares during the period. Korea Investment CORP owned 0.11% of Cerner worth $20,593,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blair William & Co. IL grew its holdings in Cerner by 28.2% in the 1st quarter. Blair William & Co. IL now owns 81,034 shares of the company’s stock worth $5,104,000 after acquiring an additional 17,814 shares during the last quarter. Franklin Resources Inc. grew its holdings in Cerner by 29.0% in the 4th quarter. Franklin Resources Inc. now owns 302,511 shares of the company’s stock worth $22,201,000 after acquiring an additional 67,951 shares during the last quarter. Aviva PLC grew its holdings in Cerner by 23.4% in the 4th quarter. Aviva PLC now owns 138,695 shares of the company’s stock worth $10,179,000 after acquiring an additional 26,287 shares during the last quarter. Guggenheim Capital LLC grew its holdings in Cerner by 8.1% in the 4th quarter. Guggenheim Capital LLC now owns 137,983 shares of the company’s stock worth $10,126,000 after acquiring an additional 10,300 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Cerner by 13.2% in the 4th quarter. ProShare Advisors LLC now owns 270,342 shares of the company’s stock worth $19,840,000 after purchasing an additional 31,529 shares during the period. 82.75% of the stock is currently owned by institutional investors and hedge funds.

CERN has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of Cerner from $52.00 to $58.00 and gave the company an “underweight” rating in a research note on Wednesday, May 13th. BidaskClub downgraded shares of Cerner from a “hold” rating to a “sell” rating in a report on Friday, May 15th. Stifel Nicolaus decreased their price target on shares of Cerner from $81.00 to $75.00 in a research note on Wednesday, March 11th. Jefferies Financial Group upgraded shares of Cerner from a “hold” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $90.00 in a research report on Wednesday, April 22nd. Finally, UBS Group cut their price objective on shares of Cerner from $84.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $78.80.

Shares of CERN stock traded down $1.54 during mid-day trading on Tuesday, hitting $72.31. 97,893 shares of the stock traded hands, compared to its average volume of 1,994,422. The stock has a market cap of $22.22 billion, a P/E ratio of 44.91, a P/E/G ratio of 2.30 and a beta of 0.87. The stock’s fifty day moving average is $69.38 and its two-hundred day moving average is $70.48. Cerner Co. has a 52-week low of $53.08 and a 52-week high of $80.90. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.93 and a quick ratio of 1.90.

Cerner (NASDAQ:CERN) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. Cerner had a net margin of 8.93% and a return on equity of 18.20%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 earnings per share. As a group, equities analysts forecast that Cerner Co. will post 2.5 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 5th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Thursday, June 4th. Cerner’s payout ratio is 29.88%.

In related news, CEO David Brent Shafer sold 11,907 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $69.73, for a total value of $830,275.11. Following the completion of the transaction, the chief executive officer now directly owns 37,756 shares of the company’s stock, valued at approximately $2,632,725.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael R. Battaglioli sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $71.31, for a total transaction of $285,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,712 shares of the company’s stock, valued at $193,392.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,278 shares of company stock valued at $8,354,806. Insiders own 0.33% of the company’s stock.

About Cerner

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.

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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