Carlson Capital Management Decreases Position in Cerner Co. (CERN)

Carlson Capital Management lowered its position in shares of Cerner Co. (NASDAQ:CERN) by 21.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,511 shares of the company’s stock after selling 2,370 shares during the period. Carlson Capital Management’s holdings in Cerner were worth $446,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CERN. Dimensional Fund Advisors LP boosted its stake in Cerner by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 955,671 shares of the company’s stock valued at $57,140,000 after buying an additional 12,983 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Cerner during the second quarter valued at $326,000. California Public Employees Retirement System lifted its holdings in shares of Cerner by 23.5% during the second quarter. California Public Employees Retirement System now owns 737,971 shares of the company’s stock valued at $44,123,000 after purchasing an additional 140,436 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Cerner by 1.6% during the second quarter. Schroder Investment Management Group now owns 512,588 shares of the company’s stock valued at $30,632,000 after purchasing an additional 8,300 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Cerner by 0.6% during the second quarter. Northern Trust Corp now owns 3,435,234 shares of the company’s stock valued at $205,392,000 after purchasing an additional 19,829 shares during the last quarter. 77.68% of the stock is owned by institutional investors and hedge funds.

In other news, Vice Chairman Clifford W. Illig sold 250,000 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $57.53, for a total transaction of $14,382,500.00. Following the completion of the sale, the insider now directly owns 1,229,719 shares of the company’s stock, valued at approximately $70,745,734.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Clifford W. Illig sold 5,000 shares of the firm’s stock in a transaction dated 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 directly 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 three months, insiders sold 690,000 shares of company stock valued at $39,876,700. Company insiders own 4.71% of the company’s stock.

Cerner stock traded down $0.75 during mid-day trading on Tuesday, hitting $53.31. The company’s stock had a trading volume of 9,898 shares, compared to its average volume of 1,736,386. The company has a market cap of $17.81 billion, a P/E ratio of 24.14, a P/E/G ratio of 1.61 and a beta of 0.98. The company has a current ratio of 2.63, a quick ratio of 2.60 and a debt-to-equity ratio of 0.09. Cerner Co. has a 52-week low of $48.78 and a 52-week high of $69.90.

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

CERN has been the subject of several analyst reports. Zacks Investment Research downgraded Cerner from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Barclays reduced their target price on Cerner from $70.00 to $67.00 and set an “equal weight” rating for the company in a report on Friday, October 26th. BidaskClub raised Cerner from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. Leerink Swann raised Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a report on Monday, October 29th. Finally, Morgan Stanley reduced their target price on Cerner from $72.00 to $68.00 and set an “equal weight” rating for the company in a report on Monday, December 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $69.42.

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About Cerner

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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