Pictet Asset Management Ltd. Has $11.06 Million Holdings in Cerner Corporation (CERN)
Pictet Asset Management Ltd. cut its stake in Cerner Corporation (NASDAQ:CERN) by 36.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,045 shares of the company’s stock after selling 89,826 shares during the period. Pictet Asset Management Ltd.’s holdings in Cerner Corporation were worth $11,058,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of CERN. Thrivent Financial For Lutherans increased its position in Cerner Corporation by 2.8% in the first quarter. Thrivent Financial For Lutherans now owns 10,780 shares of the company’s stock worth $634,000 after buying an additional 290 shares during the period. Dimensional Fund Advisors LP increased its position in Cerner Corporation by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 649,388 shares of the company’s stock worth $38,217,000 after buying an additional 9,659 shares during the period. Point72 Asset Management L.P. acquired a new stake in Cerner Corporation in the first quarter worth $729,000. Fox Run Management L.L.C. increased its position in Cerner Corporation by 241.2% in the second quarter. Fox Run Management L.L.C. now owns 11,600 shares of the company’s stock worth $771,000 after buying an additional 8,200 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new stake in Cerner Corporation in the second quarter worth $298,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman Clifford W. Illig sold 118,113 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $62.03, for a total transaction of $7,326,549.39. Following the completion of the sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at approximately $76,279,469.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Zane M. Burke sold 94,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $67.47, for a total value of $6,342,180.00. The disclosure for this sale can be found here. Insiders have sold a total of 375,583 shares of company stock valued at $25,022,031 over the last ninety days. Company insiders own 13.20% of the company’s stock.
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Shares of Cerner Corporation (NASDAQ:CERN) opened at $65.92 on Wednesday. Cerner Corporation has a one year low of $47.01 and a one year high of $73.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75. The stock has a market capitalization of $21,842.98, a PE ratio of 29.08, a P/E/G ratio of 2.11 and a beta of 0.93.
Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). Cerner Corporation had a return on equity of 18.03% and a net margin of 13.37%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the business earned $0.59 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. analysts predict that Cerner Corporation will post 2.26 earnings per share for the current year.
Several equities research analysts have weighed in on the company. Royal Bank Of Canada lowered Cerner Corporation from a “top pick” rating to an “outperform” rating and dropped their target price for the stock from $84.00 to $74.00 in a research report on Thursday, November 2nd. Zacks Investment Research cut Cerner Corporation from a “buy” rating to a “sell” rating in a research note on Tuesday, October 31st. Robert W. Baird raised Cerner Corporation from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $67.00 to $76.00 in a research note on Tuesday, October 31st. SunTrust Banks, Inc. reissued a “buy” rating and issued a $75.00 price target on shares of Cerner Corporation in a research note on Monday, October 30th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Cerner Corporation in a research note on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $68.80.
Cerner Corporation Company Profile
Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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