Cerner Co. (CERN) Stake Lessened by Jane Street Group LLC
Jane Street Group LLC reduced its stake in shares of Cerner Co. (NASDAQ:CERN) by 69.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,671 shares of the company’s stock after selling 22,207 shares during the quarter. Jane Street Group LLC’s holdings in Cerner were worth $690,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vident Investment Advisory LLC lifted its stake in Cerner by 1,075.7% in the third quarter. Vident Investment Advisory LLC now owns 50,239 shares of the company’s stock worth $3,583,000 after acquiring an additional 45,966 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its stake in Cerner by 4.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 277,698 shares of the company’s stock worth $19,804,000 after acquiring an additional 12,432 shares during the period. Chevy Chase Trust Holdings Inc. lifted its stake in Cerner by 8.4% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 277,045 shares of the company’s stock worth $19,759,000 after acquiring an additional 21,475 shares during the period. Pinkerton Retirement Specialists LLC lifted its stake in Cerner by 4.6% in the third quarter. Pinkerton Retirement Specialists LLC now owns 19,310 shares of the company’s stock worth $1,391,000 after acquiring an additional 847 shares during the period. Finally, Asset Management One Co. Ltd. lifted its stake in Cerner by 3.1% in the third quarter. Asset Management One Co. Ltd. now owns 516,222 shares of the company’s stock worth $36,781,000 after acquiring an additional 15,416 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Clifford W. Illig sold 140,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $65.52, for a total transaction of $9,172,800.00. Following the transaction, the chief executive officer now owns 1,229,719 shares in the company, valued at $80,571,188.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Marc G. Naughton sold 60,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $70.64, for a total transaction of $4,238,400.00. The disclosure for this sale can be found here. Insiders sold 788,000 shares of company stock valued at $52,190,800 over the last quarter. 13.11% of the stock is currently owned by corporate insiders.
Cerner Co. (NASDAQ:CERN) opened at $68.57 on Friday. The company has a market cap of $23,388.71, a PE ratio of 31.13, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. The company has a quick ratio of 2.75, a current ratio of 2.77 and a debt-to-equity ratio of 0.11. Cerner Co. has a fifty-two week low of $47.09 and a fifty-two week high of $73.86.
Cerner (NASDAQ:CERN) last announced its earnings results on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Cerner had a return on equity of 18.03% and a net margin of 13.37%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 earnings per share. equities analysts predict that Cerner Co. will post 2.25 EPS for the current fiscal year.
CERN has been the subject of a number of research reports. Royal Bank of Canada reaffirmed a “buy” rating on shares of Cerner in a research note on Wednesday, October 25th. SunTrust Banks reaffirmed a “buy” rating and issued a $79.00 price objective on shares of Cerner in a research note on Thursday, October 19th. Zacks Investment Research raised shares of Cerner from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research note on Tuesday, October 17th. Jefferies Group set a $79.00 price objective on shares of Cerner and gave the stock a “buy” rating in a research note on Friday, October 13th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $77.00 price objective on shares of Cerner in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $69.50.
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Cerner 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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