Cerner Co. (CERN) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its position in Cerner Co. (NASDAQ:CERN) by 27.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 quarter.

Several other large investors have also recently bought and sold shares of the stock. State Treasurer State of Michigan increased its stake in Cerner by 5.0% during the third quarter. State Treasurer State of Michigan now owns 98,068 shares of the company’s stock worth $6,317,000 after acquiring an additional 4,700 shares during the last quarter. St. James Investment Company LLC increased its stake in Cerner by 26.7% during the third quarter. St. James Investment Company LLC now owns 32,350 shares of the company’s stock worth $2,084,000 after acquiring an additional 6,820 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Cerner by 23.6% during the third quarter. Russell Investments Group Ltd. now owns 351,664 shares of the company’s stock worth $22,646,000 after acquiring an additional 67,053 shares during the last quarter. Securian Asset Management Inc increased its stake in Cerner by 4.8% during the third quarter. Securian Asset Management Inc now owns 33,783 shares of the company’s stock worth $2,176,000 after acquiring an additional 1,551 shares during the last quarter. Finally, Creative Planning increased its stake in Cerner by 1.6% during the third quarter. Creative Planning now owns 371,976 shares of the company’s stock worth $23,959,000 after acquiring an additional 5,719 shares during the last quarter. Institutional investors own 76.33% of the company’s stock.

In other news, President Zane M. Burke sold 151,818 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $65.44, for a total transaction of $9,934,969.92. Following the transaction, the president now owns 37,418 shares of the company’s stock, valued at $2,448,633.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Clifford W. Illig sold 250,000 shares of the stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $57.53, for a total value of $14,382,500.00. Following the completion of the transaction, the insider now directly owns 1,229,719 shares in the company, valued at approximately $70,745,734.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,134,070 shares of company stock worth $71,159,251. Insiders own 4.71% of the company’s stock.

Several equities research analysts have weighed in on CERN shares. Cantor Fitzgerald reissued a “buy” rating and set a $80.00 price objective on shares of Cerner in a research note on Wednesday, September 12th. Piper Jaffray Companies reissued a “buy” rating and set a $71.00 price objective on shares of Cerner in a research note on Friday, August 3rd. Canaccord Genuity upped their target price on Cerner from $64.00 to $71.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Royal Bank of Canada reaffirmed a “buy” rating and set a $72.00 target price on shares of Cerner in a research note on Friday, August 3rd. Finally, Barclays assumed coverage on Cerner in a research note on Thursday, September 13th. They set an “equal weight” rating and a $70.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $69.98.

CERN opened at $58.54 on Thursday. The company has a market cap of $18.98 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. Cerner Co. has a one year low of $50.91 and a one year 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.

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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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