Boston Private Wealth LLC Cuts Holdings in Cerner Co. (CERN)

Boston Private Wealth LLC trimmed its position in Cerner Co. (NASDAQ:CERN) by 1.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 182,976 shares of the company’s stock after selling 3,267 shares during the period. Boston Private Wealth LLC’s holdings in Cerner were worth $10,613,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CERN. Loomis Sayles & Co. L P lifted its holdings in shares of Cerner by 18.0% in the first quarter. Loomis Sayles & Co. L P now owns 12,297,860 shares of the company’s stock worth $713,276,000 after buying an additional 1,877,563 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Cerner in the first quarter worth about $81,329,000. Veritas Investment Management LLP purchased a new stake in shares of Cerner in the first quarter worth about $28,367,000. BlackRock Inc. lifted its holdings in shares of Cerner by 2.2% in the fourth quarter. BlackRock Inc. now owns 19,519,304 shares of the company’s stock worth $1,315,406,000 after buying an additional 420,942 shares in the last quarter. Finally, State of Wisconsin Investment Board lifted its holdings in shares of Cerner by 68.2% in the fourth quarter. State of Wisconsin Investment Board now owns 716,239 shares of the company’s stock worth $48,267,000 after buying an additional 290,527 shares in the last quarter. 79.30% of the stock is currently owned by hedge funds and other institutional investors.

CERN has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued a “buy” rating and issued a $80.00 price target on shares of Cerner in a report on Monday, March 5th. Wells Fargo & Co set a $75.00 price target on shares of Cerner and gave the stock a “buy” rating in a report on Saturday, March 31st. Bank of America initiated coverage on shares of Cerner in a report on Tuesday, February 27th. They issued a “buy” rating and a $75.00 price target on the stock. Zacks Investment Research downgraded shares of Cerner from a “hold” rating to a “sell” rating in a report on Tuesday, May 8th. Finally, Leerink Swann reissued a “hold” rating on shares of Cerner in a report on Thursday, April 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. Cerner presently has a consensus rating of “Hold” and an average target price of $68.74.

In other Cerner news, Vice Chairman Clifford W. Illig sold 307,700 shares of Cerner stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $64.52, for a total transaction of $19,852,804.00. Following the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at $79,341,469.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Clifford W. Illig sold 3,000 shares of Cerner stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $58.32, for a total transaction of $174,960.00. Following the transaction, the insider now directly owns 1,229,719 shares in the company, valued at $71,717,212.08. The disclosure for this sale can be found here. Insiders sold 327,948 shares of company stock worth $21,083,917 over the last ninety days. 4.71% of the stock is currently owned by insiders.

Shares of CERN opened at $59.68 on Friday. The company has a market capitalization of $19.73 billion, a P/E ratio of 27.13, a P/E/G ratio of 1.87 and a beta of 0.96. The company has a current ratio of 2.95, a quick ratio of 2.93 and a debt-to-equity ratio of 0.09. Cerner Co. has a 1-year low of $52.05 and a 1-year high of $73.86.

Cerner (NASDAQ:CERN) last announced its earnings results on Wednesday, May 2nd. The company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion. Cerner had a net margin of 16.50% and a return on equity of 15.80%. Cerner’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share. analysts anticipate that Cerner Co. will post 2.28 EPS for the current fiscal year.

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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