Wedbush Securities Inc. Sells 1,237 Shares of Cerner Co. (CERN)

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Wedbush Securities Inc. trimmed its holdings in shares of Cerner Co. (NASDAQ:CERN) by 13.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,099 shares of the company’s stock after selling 1,237 shares during the period. Wedbush Securities Inc.’s holdings in Cerner were worth $522,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN lifted its position in shares of Cerner by 20.8% during the 2nd quarter. Wells Fargo & Company MN now owns 1,032,072 shares of the company’s stock valued at $61,708,000 after buying an additional 177,887 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Cerner during the 2nd quarter valued at approximately $907,000. Victory Capital Management Inc. lifted its position in shares of Cerner by 11.7% during the 2nd quarter. Victory Capital Management Inc. now owns 53,437 shares of the company’s stock valued at $3,195,000 after buying an additional 5,604 shares in the last quarter. Chevy Chase Trust Holdings Inc. purchased a new position in shares of Cerner during the 2nd quarter valued at approximately $16,277,000. Finally, D.A. Davidson & CO. lifted its position in shares of Cerner by 21.6% during the 2nd quarter. D.A. Davidson & CO. now owns 6,823 shares of the company’s stock valued at $408,000 after buying an additional 1,213 shares in the last quarter. Institutional investors own 77.70% of the company’s stock.

In other Cerner news, President Zane M. Burke sold 381,139 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $64.05, for a total value of $24,411,952.95. Following the completion of the sale, the president now directly owns 59,539 shares of the company’s stock, valued at approximately $3,813,472.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Zane M. Burke sold 283,539 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $63.68, for a total value of $18,055,763.52. Following the completion of the sale, the president now directly owns 59,539 shares of the company’s stock, valued at $3,791,443.52. The disclosure for this sale can be found here. Insiders sold a total of 1,354,678 shares of company stock valued at $82,344,416 over the last ninety days. Corporate insiders own 4.71% of the company’s stock.

Several research firms recently commented on CERN. Zacks Investment Research downgraded Cerner from a “hold” rating to a “sell” rating in a research note on Monday, December 3rd. Morgan Stanley reduced 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. Cantor Fitzgerald reduced 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. Finally, Barclays reduced their price objective on Cerner from $70.00 to $67.00 and set an “equal weight” 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 given a buy rating to the stock. Cerner presently has an average rating of “Hold” and a consensus target price of $69.86.

Shares of CERN opened at $53.73 on Friday. Cerner Co. has a 52-week low of $50.91 and a 52-week high of $73.43. The firm has a market capitalization of $18.08 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 1.79 and a beta of 0.96. 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 (NASDAQ:CERN) last issued its earnings results on Thursday, October 25th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Cerner had a return on equity of 14.73% and a net margin of 15.72%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.36 billion. On average, sell-side analysts forecast that Cerner Co. will post 2.22 EPS for the current fiscal year.

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Cerner Company 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.

Further Reading: What is Net Asset Value (NAV)?

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Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

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