S&CO Inc. Has $3.36 Million Stake in Cerner Co. (CERN)

S&CO Inc. lowered its position in Cerner Co. (NASDAQ:CERN) by 2.4% during the third quarter, Holdings Channel reports. The institutional investor owned 52,184 shares of the company’s stock after selling 1,300 shares during the quarter. S&CO Inc.’s holdings in Cerner were worth $3,361,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Icon Wealth Partners LLC acquired a new stake in Cerner in the 2nd quarter worth approximately $102,000. Moneta Group Investment Advisors LLC boosted its stake in Cerner by 3,608.5% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 31,411 shares of the company’s stock worth $124,000 after purchasing an additional 30,564 shares in the last quarter. CWM LLC boosted its stake in Cerner by 880.5% in the 2nd quarter. CWM LLC now owns 2,510 shares of the company’s stock worth $150,000 after purchasing an additional 2,254 shares in the last quarter. Alpha Windward LLC acquired a new stake in Cerner in the 2nd quarter worth approximately $160,000. Finally, Qube Research & Technologies Ltd boosted its stake in Cerner by 85.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 2,898 shares of the company’s stock worth $173,000 after purchasing an additional 1,335 shares in the last quarter. 76.33% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ CERN opened at $58.54 on Thursday. The company has a quick ratio of 2.60, a current ratio of 2.63 and a debt-to-equity ratio of 0.09. Cerner Co. has a 12 month low of $50.91 and a 12 month high of $73.43. The company has a market cap of $18.98 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96.

A number of analysts recently commented on the stock. Leerink Swann upgraded shares of Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a research note on Monday, October 29th. Cantor Fitzgerald lowered their target price on shares of Cerner from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, October 26th. Barclays lowered their target price on shares of Cerner from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, October 26th. Royal Bank of Canada cut shares of Cerner from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $72.00 to $54.00 in a research note on Friday, October 26th. Finally, Zacks Investment Research upgraded shares of Cerner from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $69.98.

In other Cerner news, EVP Julie M. Wilson sold 67,574 shares of Cerner stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $64.73, for a total transaction of $4,374,065.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Clifford W. Illig sold 250,000 shares of Cerner stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $57.53, for a total transaction of $14,382,500.00. Following the sale, the insider now owns 1,229,719 shares of the company’s stock, valued at $70,745,734.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,134,070 shares of company stock valued at $71,159,251. Company insiders own 4.71% of the company’s stock.

TRADEMARK VIOLATION WARNING: “S&CO Inc. Has $3.36 Million Stake in Cerner Co. (CERN)” was originally posted by WKRB News and is the property of of WKRB News. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at https://www.wkrb13.com/2018/11/08/sco-inc-has-3-36-million-stake-in-cerner-co-cern.html.

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.

Featured Story: What does cost of debt say about a company’s financial health?

Want to see what other hedge funds are holding CERN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cerner Co. (NASDAQ:CERN).

Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

Receive News & Ratings for Cerner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerner and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply