Point72 Asset Management L.P. acquired a new stake in shares of Cerner Co. (NASDAQ:CERN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 65,791 shares of the company’s stock, valued at approximately $4,485,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nuveen Asset Management LLC lifted its stake in Cerner by 28,932.0% in the second quarter. Nuveen Asset Management LLC now owns 2,380,911 shares of the company’s stock worth $174,521,000 after purchasing an additional 2,372,710 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Cerner by 166.4% during the 2nd quarter. AQR Capital Management LLC now owns 2,714,579 shares of the company’s stock valued at $195,721,000 after acquiring an additional 1,695,766 shares during the period. Invesco Ltd. boosted its holdings in Cerner by 21.4% during the 2nd quarter. Invesco Ltd. now owns 5,931,690 shares of the company’s stock valued at $434,793,000 after acquiring an additional 1,044,715 shares during the period. Eagle Asset Management Inc. purchased a new stake in Cerner during the 3rd quarter valued at about $67,620,000. Finally, Man Group plc grew its position in Cerner by 572.2% during the 2nd quarter. Man Group plc now owns 1,103,741 shares of the company’s stock worth $80,904,000 after acquiring an additional 939,552 shares during the last quarter. 81.62% of the stock is currently owned by institutional investors.

In other Cerner news, COO Michael Nill sold 81,772 shares of Cerner stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $68.59, for a total transaction of $5,608,741.48. Also, CAO Michael R. Battaglioli sold 10,000 shares of Cerner stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.06, for a total value of $720,600.00. Following the sale, the chief accounting officer now directly owns 6,226 shares in the company, valued at $448,645.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 430,293 shares of company stock worth $29,118,407. Insiders own 0.75% of the company’s stock.

Several analysts have weighed in on CERN shares. Piper Jaffray Companies set a $78.00 price objective on Cerner and gave the company a “buy” rating in a research report on Friday, October 25th. BidaskClub raised Cerner from a “strong sell” rating to a “sell” rating in a research note on Monday, November 25th. UBS Group initiated coverage on shares of Cerner in a report on Tuesday, November 26th. They issued a “buy” rating and a $84.00 target price on the stock. ValuEngine downgraded shares of Cerner from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Morgan Stanley upped their price target on shares of Cerner from $49.00 to $62.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $77.35.

CERN opened at $70.92 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.19 and a current ratio of 2.21. Cerner Co. has a 52-week low of $48.78 and a 52-week high of $76.47. The stock has a market capitalization of $22.49 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93. The stock’s 50 day moving average price is $68.27 and its 200-day moving average price is $69.99.

Cerner (NASDAQ:CERN) last announced its earnings results on Thursday, October 24th. The company reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66. Cerner had a return on equity of 15.61% and a net margin of 9.02%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Research analysts forecast that Cerner Co. will post 2.41 EPS for the current fiscal year.

Cerner Company Profile

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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