Cerner Co. (CERN) Stake Lowered by Pictet Asset Management Ltd.

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Pictet Asset Management Ltd. lessened its position in Cerner Co. (NASDAQ:CERN) by 4.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 156,073 shares of the company’s stock after selling 7,900 shares during the period. Pictet Asset Management Ltd.’s holdings in Cerner were worth $10,053,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Icon Wealth Partners LLC acquired a new stake in shares of Cerner in the 2nd quarter worth $102,000. Moneta Group Investment Advisors LLC lifted its stake in shares of Cerner by 3,608.5% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 31,411 shares of the company’s stock worth $124,000 after acquiring an additional 30,564 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Cerner by 155.7% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,347 shares of the company’s stock worth $151,000 after acquiring an additional 1,429 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of Cerner by 85.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 2,898 shares of the company’s stock worth $173,000 after acquiring an additional 1,335 shares during the period. Finally, Raymond James Trust N.A. acquired a new stake in shares of Cerner in the 3rd quarter worth $201,000. Institutional investors own 77.70% of the company’s stock.

Shares of NASDAQ CERN opened at $53.73 on Friday. The company has a quick ratio of 2.60, a current ratio of 2.63 and a debt-to-equity ratio of 0.09. Cerner Co. has a 52 week low of $50.91 and a 52 week high of $73.43. The stock has a market capitalization of $18.08 billion, a P/E ratio of 25.29, a P/E/G ratio of 1.79 and a beta of 0.96.

Cerner (NASDAQ:CERN) last announced 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 net margin of 15.72% and a return on equity of 14.73%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.36 billion. As a group, research analysts anticipate that Cerner Co. will post 2.22 EPS for the current fiscal year.

CERN has been the subject of several recent analyst reports. KeyCorp raised their target price on shares of Cerner from $74.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, August 20th. BidaskClub cut shares of Cerner from a “hold” rating to a “sell” rating in a research note on Friday, August 31st. Cantor Fitzgerald restated a “buy” rating and issued a $80.00 target price on shares of Cerner in a research note on Wednesday, September 12th. Barclays initiated coverage on shares of Cerner in a research note on Thursday, September 13th. They issued an “equal weight” rating and a $70.00 target price for the company. Finally, Zacks Investment Research cut shares of Cerner from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $69.86.

In other Cerner news, President Zane M. Burke sold 381,139 shares of Cerner stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $64.05, for a total transaction of $24,411,952.95. Following the completion of the transaction, the president now owns 59,539 shares in the company, valued at $3,813,472.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Clifford W. Illig sold 5,000 shares of Cerner stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $57.19, for a total transaction of $285,950.00. Following the transaction, the insider now owns 1,229,719 shares of the company’s stock, valued at approximately $70,327,629.61. The disclosure for this sale can be found here. Insiders sold 1,354,678 shares of company stock valued at $82,344,416 in the last quarter. Company insiders own 4.71% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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