Gabelli Funds LLC Acquires Shares of 118,371 Cerner Co. (NASDAQ:CERN)

Gabelli Funds LLC purchased a new position in Cerner Co. (NASDAQ:CERNGet Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 118,371 shares of the company’s stock, valued at approximately $10,993,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. M&G Investment Management Ltd. lifted its position in shares of Cerner by 1.3% during the fourth quarter. M&G Investment Management Ltd. now owns 9,107 shares of the company’s stock valued at $847,000 after buying an additional 114 shares during the last quarter. Kanawha Capital Management LLC boosted its stake in shares of Cerner by 1.2% in the fourth quarter. Kanawha Capital Management LLC now owns 10,878 shares of the company’s stock worth $1,010,000 after acquiring an additional 125 shares during the last quarter. WealthBridge Investment Counsel Inc. lifted its stake in Cerner by 0.3% in the 4th quarter. WealthBridge Investment Counsel Inc. now owns 49,975 shares of the company’s stock worth $4,641,000 after purchasing an additional 150 shares in the last quarter. Motley Fool Wealth Management LLC boosted its holdings in Cerner by 0.3% in the 3rd quarter. Motley Fool Wealth Management LLC now owns 59,756 shares of the company’s stock valued at $4,214,000 after purchasing an additional 151 shares during the last quarter. Finally, Veritable L.P. lifted its holdings in shares of Cerner by 2.5% in the 3rd quarter. Veritable L.P. now owns 6,574 shares of the company’s stock worth $464,000 after acquiring an additional 161 shares during the last quarter. 82.23% of the stock is owned by institutional investors and hedge funds.

Shares of Cerner stock opened at $93.93 on Monday. The business’s 50 day simple moving average is $93.68 and its 200 day simple moving average is $88.90. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.77 and a current ratio of 1.79. Cerner Co. has a 52-week low of $69.08 and a 52-week high of $94.46. The firm has a market cap of $27.62 billion, a PE ratio of 47.20, a P/E/G ratio of 2.35 and a beta of 0.77.

Cerner (NASDAQ:CERNGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.47 billion. Cerner had a return on equity of 22.86% and a net margin of 10.15%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 earnings per share. As a group, equities research analysts predict that Cerner Co. will post 3.13 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 19th. Investors of record on Monday, March 28th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 25th. This represents a $1.08 dividend on an annualized basis and a yield of 1.15%. Cerner’s dividend payout ratio (DPR) is presently 54.27%.

Several analysts have commented on the company. Argus downgraded Cerner from a “buy” rating to a “hold” rating in a research note on Monday, April 11th. StockNews.com began coverage on Cerner in a report on Thursday, March 31st. They issued a “buy” rating for the company. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $87.38.

In other Cerner news, CAO Michael R. Battaglioli sold 5,288 shares of Cerner stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $94.09, for a total transaction of $497,547.92. Following the completion of the transaction, the chief accounting officer now owns 3,412 shares in the company, valued at $321,035.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tracy L. Platt sold 7,769 shares of the company’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $93.40, for a total value of $725,624.60. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

About Cerner (Get Rating)

Cerner Corporation, together with its subsidiaries, provides health care information technology solutions and tech-enabled services in the United States and internationally. It 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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