Cerner Co. (CERN) Position Decreased by Franklin Resources Inc.

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Franklin Resources Inc. lessened its holdings in Cerner Co. (NASDAQ:CERN) by 7.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 749,488 shares of the company’s stock after selling 59,487 shares during the period. Franklin Resources Inc.’s holdings in Cerner were worth $48,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in CERN. Bank of New York Mellon Corp increased its stake in shares of Cerner by 191,922.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 15,043,035 shares of the company’s stock valued at $968,920,000 after purchasing an additional 15,035,201 shares in the last quarter. Parnassus Investments CA increased its stake in shares of Cerner by 178.1% in the 2nd quarter. Parnassus Investments CA now owns 7,207,631 shares of the company’s stock valued at $430,944,000 after purchasing an additional 4,616,290 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of Cerner in the 3rd quarter valued at about $108,027,000. Epoch Investment Partners Inc. increased its stake in shares of Cerner by 1,497.5% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,520,499 shares of the company’s stock valued at $90,910,000 after purchasing an additional 1,425,317 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in shares of Cerner by 1,668.9% in the 3rd quarter. Panagora Asset Management Inc. now owns 1,128,149 shares of the company’s stock valued at $72,664,000 after purchasing an additional 1,064,373 shares in the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.

In other Cerner news, Vice Chairman Clifford W. Illig sold 435,000 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $57.95, for a total transaction of $25,208,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Clifford W. Illig sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $57.19, for a total value of $285,950.00. Following the sale, the insider now owns 1,229,719 shares of the company’s stock, valued at $70,327,629.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,354,678 shares of company stock valued at $82,344,416. 4.71% of the stock is owned by company insiders.

NASDAQ:CERN opened at $53.73 on Friday. Cerner Co. has a 12 month low of $50.91 and a 12 month high of $73.43. The company has a quick ratio of 2.60, a current ratio of 2.63 and a debt-to-equity ratio of 0.09. The company has a market cap of $18.08 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.79 and a beta of 0.96.

Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). Cerner had a return on equity of 14.73% and a net margin of 15.72%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Equities research analysts forecast that Cerner Co. will post 2.22 earnings per share for the current year.

Several brokerages recently weighed in on CERN. Zacks Investment Research lowered Cerner from a “hold” rating to a “sell” rating in a research note on Monday, December 3rd. Morgan Stanley cut their price target on Cerner from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Monday, December 3rd. Leerink Swann upgraded Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Monday, October 29th. Cantor Fitzgerald cut their price target on Cerner from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, October 26th. Finally, Barclays cut their price target on Cerner from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, October 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. Cerner presently has an average rating of “Hold” and an average target price of $69.86.

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Cerner Company 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.

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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