TD Asset Management Inc. Sells 111,924 Shares of Cerner Co. (NASDAQ:CERN)

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TD Asset Management Inc. decreased its position in Cerner Co. (NASDAQ:CERN) by 39.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 168,842 shares of the company’s stock after selling 111,924 shares during the period. TD Asset Management Inc. owned about 0.05% of Cerner worth $9,659,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CERN. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Cerner by 6.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,129,379 shares of the company’s stock worth $64,612,000 after purchasing an additional 67,158 shares during the last quarter. McKinley Carter Wealth Services Inc. increased its holdings in shares of Cerner by 17.7% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 40,874 shares of the company’s stock worth $2,338,000 after acquiring an additional 6,136 shares during the last quarter. Veritas Investment Management UK Ltd grew its holdings in Cerner by 2.4% in the 1st quarter. Veritas Investment Management UK Ltd now owns 276,434 shares of the company’s stock valued at $15,815,000 after buying an additional 6,370 shares in the last quarter. Veritas Investment Management LLP grew its holdings in Cerner by 13.1% in the 1st quarter. Veritas Investment Management LLP now owns 1,088,470 shares of the company’s stock valued at $62,266,000 after buying an additional 125,750 shares in the last quarter. Finally, ETF Managers Group LLC grew its holdings in Cerner by 9.7% in the 1st quarter. ETF Managers Group LLC now owns 2,466 shares of the company’s stock valued at $141,000 after buying an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 81.69% of the company’s stock.

NASDAQ:CERN opened at $71.67 on Wednesday. The firm has a market cap of $23.32 billion, a PE ratio of 32.43, a P/E/G ratio of 2.22 and a beta of 0.88. The company has a quick ratio of 2.55, a current ratio of 2.58 and a debt-to-equity ratio of 0.09. Cerner Co. has a fifty-two week low of $48.78 and a fifty-two week high of $73.24.

Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.06. Cerner had a return on equity of 14.86% and a net margin of 11.65%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the company earned $0.58 EPS. Cerner’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, research analysts expect that Cerner Co. will post 2.44 earnings per share for the current year.

The firm also recently disclosed a special dividend, which will be paid on Friday, July 26th. Investors of record on Tuesday, June 18th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 17th.

CERN has been the topic of a number of research reports. Citigroup set a $77.00 price objective on Cerner and gave the company a “buy” rating in a report on Wednesday, April 10th. SunTrust Banks raised Cerner from a “hold” rating to a “buy” rating and upped their price objective for the company from $60.00 to $76.00 in a report on Wednesday, April 10th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Cerner in a report on Tuesday, April 9th. ValuEngine raised Cerner from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, BidaskClub raised Cerner from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. Cerner currently has an average rating of “Buy” and a consensus target price of $69.29.

In related news, Director Linda M. Dillman sold 4,100 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $70.14, for a total transaction of $287,574.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Halsey Wise bought 7,600 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was purchased at an average price of $65.76 per share, with a total value of $499,776.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 400,068 shares of company stock valued at $27,779,043. 4.71% of the stock is owned by corporate insiders.

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Cerner 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.

See Also: Closed-End Mutual Funds

Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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