Global Trust Asset Management LLC Reduces Position in Cerner Co. (CERN)

Global Trust Asset Management LLC reduced its position in shares of Cerner Co. (NASDAQ:CERN) by 80.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,483 shares of the company’s stock after selling 6,155 shares during the quarter. Global Trust Asset Management LLC’s holdings in Cerner were worth $78,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Griffin Asset Management Inc. raised its stake in Cerner by 2.5% during the 3rd quarter. Griffin Asset Management Inc. now owns 10,400 shares of the company’s stock worth $670,000 after buying an additional 250 shares during the period. Klingenstein Fields & Co. LLC raised its stake in shares of Cerner by 9.8% in the third quarter. Klingenstein Fields & Co. LLC now owns 10,055 shares of the company’s stock worth $648,000 after purchasing an additional 900 shares during the last quarter. World Asset Management Inc raised its stake in shares of Cerner by 4.8% in the third quarter. World Asset Management Inc now owns 20,966 shares of the company’s stock worth $1,350,000 after purchasing an additional 956 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Cerner by 34.5% in the third quarter. Parallel Advisors LLC now owns 4,025 shares of the company’s stock worth $259,000 after purchasing an additional 1,032 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Cerner by 17.6% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,024 shares of the company’s stock worth $452,000 after purchasing an additional 1,050 shares during the last quarter. 77.68% of the stock is currently owned by institutional investors and hedge funds.

In other Cerner news, Vice Chairman Clifford W. Illig sold 435,000 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $57.95, for a total transaction of $25,208,250.00. The sale 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 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 transaction, 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 have sold 690,000 shares of company stock valued at $39,876,700. 4.71% of the stock is owned by corporate insiders.

Several analysts have recently commented on CERN shares. Zacks Investment Research downgraded Cerner from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Morgan Stanley lowered their price objective on Cerner from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Monday, December 3rd. Leerink Swann raised Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Monday, October 29th. Royal Bank of Canada downgraded Cerner from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $72.00 to $54.00 in a research note on Friday, October 26th. Finally, Cantor Fitzgerald lowered their price objective on Cerner from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, October 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $69.86.

CERN stock opened at $53.88 on Friday. The company has a market capitalization of $17.60 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 1.59 and a beta of 0.98. 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 $48.78 and a 12-month high of $73.16.

Cerner (NASDAQ:CERN) last released its earnings results 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). Cerner had a net margin of 15.72% and a return on equity of 14.73%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.36 billion. Analysts anticipate that Cerner Co. will post 2.22 earnings per share for the current fiscal year.

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Cerner Company Profile

Cerner Corp. designs, develops, markets, installs, hosts and supports health care information technology, health care devices, hardware and content solutions for health care organizations and consumers. The company also provides value-added services, including implementation and training, remote hosting, operational management services, revenue cycle services, support and maintenance, health care data analysis, clinical process optimization, transaction processing, employer health centers, employee wellness programs and third party administrator services for employer-based health plans.

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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