Cerner Co. (NASDAQ:CERN) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE boosted its holdings in Cerner Co. (NASDAQ:CERNGet Rating) by 298.5% during the first quarter, Holdings Channel.com reports. The fund owned 7,005,345 shares of the company’s stock after acquiring an additional 5,247,584 shares during the period. Bank of America Corp DE’s holdings in Cerner were worth $655,419,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Natixis Advisors L.P. lifted its holdings in Cerner by 121.8% in the 1st quarter. Natixis Advisors L.P. now owns 61,999 shares of the company’s stock valued at $5,801,000 after purchasing an additional 34,049 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Cerner by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 18,600 shares of the company’s stock valued at $1,738,000 after purchasing an additional 200 shares in the last quarter. EHP Funds Inc. purchased a new position in Cerner in the 1st quarter valued at about $6,341,000. Gateway Investment Advisers LLC lifted its holdings in Cerner by 4,798.5% in the 1st quarter. Gateway Investment Advisers LLC now owns 115,800 shares of the company’s stock valued at $10,834,000 after purchasing an additional 113,436 shares in the last quarter. Finally, ACG Wealth lifted its holdings in Cerner by 8.2% in the 1st quarter. ACG Wealth now owns 17,487 shares of the company’s stock valued at $1,636,000 after purchasing an additional 1,328 shares in the last quarter. 82.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Cerner in a report on Wednesday. They issued a “buy” rating on the stock. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Cerner currently has a consensus rating of “Hold” and a consensus target price of $89.20.

Cerner Stock Performance

Shares of CERN stock opened at $94.92 on Friday. The firm has a market cap of $27.92 billion, a P/E ratio of 47.70, a PEG ratio of 2.37 and a beta of 0.77. Cerner Co. has a 1-year low of $69.08 and a 1-year high of $95.40. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.79 and a quick ratio of 1.77. The firm’s 50-day simple moving average is $94.92 and its 200-day simple moving average is $94.37.

Cerner Company Profile

(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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