Swiss National Bank Raises Holdings in Cerner Co. (CERN)
Swiss National Bank grew its holdings in shares of Cerner Co. (NASDAQ:CERN) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,099,872 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. Swiss National Bank’s holdings in Cerner were worth $74,120,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of CERN. APG Asset Management N.V. increased its holdings in shares of Cerner by 153.1% in the 4th quarter. APG Asset Management N.V. now owns 1,121,956 shares of the company’s stock worth $62,965,000 after acquiring an additional 678,700 shares during the period. Sawgrass Asset Management LLC acquired a new stake in shares of Cerner in the 3rd quarter worth about $39,946,000. Koch Industries Inc. acquired a new stake in shares of Cerner in the 2nd quarter worth about $310,000. Commonwealth Bank of Australia increased its holdings in shares of Cerner by 1,362.5% in the 3rd quarter. Commonwealth Bank of Australia now owns 261,011 shares of the company’s stock worth $18,389,000 after acquiring an additional 243,164 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Cerner by 18.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,213,944 shares of the company’s stock valued at $86,568,000 after buying an additional 185,957 shares in the last quarter. 81.58% of the stock is currently owned by institutional investors.
Shares of Cerner Co. (NASDAQ CERN) opened at $62.49 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.99 and a current ratio of 3.01. Cerner Co. has a 52 week low of $54.01 and a 52 week high of $73.86. The company has a market cap of $20,784.01, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.87 and a beta of 0.90.
CERN has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Cerner from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. SunTrust Banks reiterated a “buy” rating and issued a $79.00 target price on shares of Cerner in a research report on Thursday, October 19th. Evercore ISI began coverage on shares of Cerner in a research report on Thursday, January 18th. They issued an “in-line” rating and a $77.00 target price for the company. BidaskClub lowered shares of Cerner from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Finally, Robert W. Baird upgraded shares of Cerner from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $67.00 to $76.00 in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $67.05.
In other news, CFO Marc G. Naughton sold 60,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $70.64, for a total value of $4,238,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Clifford W. Illig sold 530,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $65.54, for a total transaction of $34,736,200.00. Following the completion of the sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at $80,595,783.26. The disclosure for this sale can be found here. Insiders have sold 788,100 shares of company stock valued at $52,181,816 over the last ninety days. Insiders own 13.11% of the company’s stock.
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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