Canada Pension Plan Investment Board trimmed its position in shares of Cerner Co. (NASDAQ:CERN) by 42.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,484 shares of the company’s stock after selling 186,711 shares during the period. Canada Pension Plan Investment Board owned about 0.08% of Cerner worth $16,585,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in Cerner by 0.9% in the third quarter. BlackRock Inc. now owns 20,956,604 shares of the company’s stock worth $1,349,817,000 after buying an additional 177,979 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Cerner by 191,922.4% in the third quarter. Bank of New York Mellon Corp now owns 15,043,035 shares of the company’s stock worth $968,920,000 after buying an additional 15,035,201 shares in the last quarter. Parnassus Investments CA raised its stake in Cerner by 178.1% in the second quarter. Parnassus Investments CA now owns 7,207,631 shares of the company’s stock worth $430,944,000 after buying an additional 4,616,290 shares in the last quarter. Northern Trust Corp raised its stake in Cerner by 0.6% in the second quarter. Northern Trust Corp now owns 3,435,234 shares of the company’s stock worth $205,392,000 after buying an additional 19,829 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Cerner by 43.7% in the third quarter. American Century Companies Inc. now owns 2,796,500 shares of the company’s stock worth $180,123,000 after buying an additional 850,122 shares in the last quarter. 77.70% of the stock is owned by hedge funds and other institutional investors.
In other news, President Zane M. Burke sold 283,539 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $63.68, for a total transaction of $18,055,763.52. Following the sale, the president now owns 59,539 shares in the company, valued at $3,791,443.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Clifford W. Illig sold 5,000 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $57.19, for a total transaction of $285,950.00. Following the sale, the insider now owns 1,229,719 shares in the company, valued at approximately $70,327,629.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 919,678 shares of company stock worth $57,136,166. Corporate insiders own 4.71% of the company’s stock.
Shares of NASDAQ CERN opened at $57.91 on Monday. Cerner Co. has a fifty-two week low of $50.91 and a fifty-two week high of $73.43. The company has a market cap of $19.08 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. 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 (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.57 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.36 billion. On average, sell-side analysts anticipate that Cerner Co. will post 2.22 EPS for the current year.
CERN has been the subject of a number of analyst reports. Royal Bank of Canada downgraded shares of Cerner from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $72.00 to $54.00 in a research note on Friday, October 26th. Zacks Investment Research downgraded shares of Cerner from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. BidaskClub downgraded shares of Cerner from a “hold” rating to a “sell” rating in a research note on Friday, August 31st. Leerink Swann raised shares of Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a research note on Monday, October 29th. Finally, Barclays initiated coverage on shares of Cerner in a research note on Thursday, September 13th. They set an “equal weight” rating and a $70.00 target price for the company. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $69.98.
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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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