Oppenheimer & Co. Inc. lowered its position in Cerner Co. (NASDAQ:CERN) by 27.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,337 shares of the company’s stock after selling 3,178 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cerner were worth $537,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Cerner by 4.7% in the second quarter. BlackRock Inc. now owns 20,778,625 shares of the company’s stock worth $1,242,353,000 after acquiring an additional 926,609 shares during the period. Parnassus Investments CA grew its holdings in shares of 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 acquiring an additional 4,616,290 shares during the period. Veritas Asset Management LLP grew its holdings in shares of Cerner by 25.7% in the second quarter. Veritas Asset Management LLP now owns 4,586,572 shares of the company’s stock worth $274,231,000 after acquiring an additional 937,800 shares during the period. Northern Trust Corp grew its holdings in shares of 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 acquiring an additional 19,829 shares during the period. Finally, Morgan Stanley grew its holdings in shares of Cerner by 39.1% in the second quarter. Morgan Stanley now owns 2,552,434 shares of the company’s stock worth $152,610,000 after acquiring an additional 717,218 shares during the period. 76.33% of the stock is owned by institutional investors.
In other news, EVP Julie M. Wilson sold 67,574 shares of the business’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $64.73, for a total value of $4,374,065.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Zane M. Burke sold 151,818 shares of the business’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $65.44, for a total value of $9,934,969.92. Following the completion of the transaction, the president now owns 37,418 shares in the company, valued at $2,448,633.92. The disclosure for this sale can be found here. Insiders sold 1,134,070 shares of company stock worth $71,159,251 over the last 90 days. Company insiders own 4.71% of the company’s stock.
Several analysts recently commented on the company. Canaccord Genuity lifted their price objective on Cerner from $64.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Stifel Nicolaus boosted their price target on Cerner from $62.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 25th. Cantor Fitzgerald cut their price target on Cerner from $80.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, October 26th. Royal Bank of Canada lowered Cerner from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $72.00 to $54.00 in a report on Friday, October 26th. Finally, SunTrust Banks boosted their price target on Cerner to $65.00 and gave the company a “hold” rating in a report on Monday, August 6th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Cerner currently has an average rating of “Buy” and an average target price of $69.98.
NASDAQ:CERN opened at $58.54 on Thursday. Cerner Co. has a 52-week low of $50.91 and a 52-week high of $73.43. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.63 and a quick ratio of 2.60. The stock has a market cap of $18.98 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 1.88 and a beta of 0.96.
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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