Prudential Financial Inc. Trims Holdings in Cerner Co. (CERN)

Prudential Financial Inc. decreased its position in shares of Cerner Co. (NASDAQ:CERN) by 9.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 418,687 shares of the company’s stock after selling 46,239 shares during the quarter. Prudential Financial Inc.’s holdings in Cerner were worth $26,968,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CERN. Icon Wealth Partners LLC acquired a new position in shares of Cerner in the 2nd quarter valued at $102,000. Moneta Group Investment Advisors LLC lifted its stake in shares of Cerner by 3,608.5% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 31,411 shares of the company’s stock valued at $124,000 after purchasing an additional 30,564 shares during the period. CWM LLC lifted its stake in shares of Cerner by 880.5% in the 2nd quarter. CWM LLC now owns 2,510 shares of the company’s stock valued at $150,000 after purchasing an additional 2,254 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of Cerner by 85.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 2,898 shares of the company’s stock valued at $173,000 after purchasing an additional 1,335 shares during the period. Finally, Raymond James Trust N.A. acquired a new position in shares of Cerner in the 3rd quarter valued at $201,000. 77.14% of the stock is currently owned by hedge funds and other institutional investors.

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

CERN opened at $56.91 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.63 and a quick ratio of 2.60. Cerner Co. has a 12 month low of $50.91 and a 12 month high of $73.43. The firm has a market capitalization of $18.75 billion, a P/E ratio of 25.87, a PEG ratio of 1.86 and a beta of 0.96.

Cerner (NASDAQ:CERN) last released 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 the consensus estimate of $1.36 billion. As a group, sell-side analysts forecast that Cerner Co. will post 2.22 earnings per share for the current fiscal year.

In related news, Vice Chairman Clifford W. Illig sold 5,000 shares of the company’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $57.19, for a total value of $285,950.00. Following the completion of the sale, the insider now owns 1,229,719 shares in the company, valued at approximately $70,327,629.61. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Zane M. Burke sold 381,139 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $64.05, for a total transaction of $24,411,952.95. Following the completion of the sale, the president now owns 59,539 shares of the company’s stock, valued at approximately $3,813,472.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,071,496 shares of company stock valued at $67,071,136. 4.71% of the stock is owned by corporate insiders.

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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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