FormulaFolio Investments LLC purchased a new stake in Cerner Co. (NASDAQ:CERN) during the third quarter, HoldingsChannel reports. The firm purchased 13,202 shares of the company’s stock, valued at approximately $850,000.

A number of other large investors also recently made changes to their positions in the business. Gulf International Bank UK Ltd grew its holdings in shares of Cerner by 10.8% during the third quarter. Gulf International Bank UK Ltd now owns 101,477 shares of the company’s stock worth $6,536,000 after purchasing an additional 9,886 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Cerner by 5.1% during the second quarter. CIBC Asset Management Inc now owns 44,151 shares of the company’s stock worth $2,640,000 after purchasing an additional 2,149 shares during the last quarter. Advisors Capital Management LLC grew its holdings in shares of Cerner by 6.6% during the third quarter. Advisors Capital Management LLC now owns 59,880 shares of the company’s stock worth $3,857,000 after purchasing an additional 3,696 shares during the last quarter. Zebra Capital Management LLC bought a new stake in shares of Cerner during the second quarter worth $929,000. Finally, Oakbrook Investments LLC bought a new stake in shares of Cerner during the third quarter worth $1,839,000. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Shares of CERN opened at $56.25 on Tuesday. The company has a current ratio of 2.63, a quick ratio of 2.60 and a debt-to-equity ratio of 0.09. Cerner Co. has a 12-month low of $50.91 and a 12-month high of $73.43. The firm has a market cap of $19.07 billion, a PE ratio of 25.57, a PEG ratio of 1.89 and a beta of 0.96.

In other news, President Zane M. Burke sold 151,818 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $65.44, for a total transaction of $9,934,969.92. Following the transaction, the president now owns 37,418 shares of the company’s stock, valued at $2,448,633.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Clifford W. Illig sold 250,000 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $57.53, for a total value of $14,382,500.00. Following the transaction, the insider now directly owns 1,229,719 shares in the company, valued at approximately $70,745,734.07. The disclosure for this sale can be found here. Insiders have sold 1,066,496 shares of company stock worth $66,785,186 in the last ninety days. 4.71% of the stock is currently owned by insiders.

Several analysts have recently commented on CERN shares. Cantor Fitzgerald restated a “buy” rating and set a $80.00 target price on shares of Cerner in a report on Wednesday, September 12th. Piper Jaffray Companies restated a “buy” rating and set a $71.00 target price on shares of Cerner in a report on Friday, August 3rd. Canaccord Genuity increased their target price on Cerner from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Royal Bank of Canada restated a “buy” rating and set a $72.00 target price on shares of Cerner in a report on Friday, August 3rd. Finally, Barclays started coverage on Cerner in a report on Thursday, September 13th. They set an “equal weight” rating and a $70.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. Cerner currently has a consensus rating of “Buy” and an average price target of $69.98.

COPYRIGHT VIOLATION WARNING: This story was originally posted by Daily Political and is owned by of Daily Political. If you are accessing this story on another site, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this story can be viewed at https://www.dailypolitical.com/2018/11/20/formulafolio-investments-llc-purchases-shares-of-13202-cerner-co-cern.html.

Cerner Profile

Cerner Corporation provides health care information technology solutions and 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.

Further Reading: How To Calculate Debt-to-Equity Ratio

Want to see what other hedge funds are holding CERN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cerner Co. (NASDAQ:CERN).

Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

Receive News & Ratings for Cerner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerner and related companies with MarketBeat.com's FREE daily email newsletter.