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

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

Several other hedge funds also recently modified their holdings of the company. Gulf International Bank UK Ltd lifted its holdings in Cerner by 10.8% during the 3rd quarter. Gulf International Bank UK Ltd now owns 101,477 shares of the company’s stock worth $6,536,000 after buying an additional 9,886 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in Cerner during the 3rd quarter worth approximately $108,027,000. Cape ANN Savings Bank acquired a new stake in Cerner during the 3rd quarter worth approximately $215,000. CIBC Asset Management Inc lifted its holdings in Cerner by 5.1% during the 2nd quarter. CIBC Asset Management Inc now owns 44,151 shares of the company’s stock worth $2,640,000 after buying an additional 2,149 shares in the last quarter. Finally, Oakbrook Investments LLC acquired a new stake in Cerner during the 3rd quarter worth approximately $1,839,000. Hedge funds and other institutional investors own 77.70% of the company’s stock.

Shares of NASDAQ:CERN opened at $53.73 on Friday. Cerner Co. has a 52 week low of $50.91 and a 52 week high of $73.43. The company has a current ratio of 2.63, a quick ratio of 2.60 and a debt-to-equity ratio of 0.09. The company has a market capitalization 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 announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.36 billion. On average, research analysts forecast that Cerner Co. will post 2.22 earnings per share for the current year.

CERN has been the topic of a number of research reports. Zacks Investment Research lowered shares of Cerner from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Barclays reduced their target price on shares of Cerner from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, October 26th. Cantor Fitzgerald reiterated a “buy” rating and set a $80.00 target price on shares of Cerner in a report on Wednesday, September 12th. BidaskClub lowered shares of Cerner from a “hold” rating to a “sell” rating in a report on Friday, August 31st. Finally, KeyCorp increased their price objective on shares of Cerner from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, August 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $69.86.

In related news, President Zane M. Burke sold 381,139 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $64.05, for a total value of $24,411,952.95. Following the transaction, the president now directly owns 59,539 shares of the company’s stock, valued at approximately $3,813,472.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Clifford W. Illig sold 435,000 shares of the stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $57.95, for a total transaction of $25,208,250.00. The disclosure for this sale can be found here. Insiders sold a total of 1,354,678 shares of company stock worth $82,344,416 over the last ninety days. Insiders own 4.71% of the company’s stock.

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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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