Putnam Investments LLC Sells 400 Shares of Cerner Co. (CERN)

Putnam Investments LLC decreased its position in Cerner Co. (NASDAQ:CERN) by 5.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,384 shares of the company’s stock after selling 400 shares during the period. Putnam Investments LLC’s holdings in Cerner were worth $302,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Morgan Stanley increased its position in shares of Cerner by 151.6% in the third quarter. Morgan Stanley now owns 1,219,077 shares of the company’s stock worth $75,278,000 after buying an additional 734,622 shares during the period. Stephens Investment Management Group LLC increased its position in shares of Cerner by 15.0% in the third quarter. Stephens Investment Management Group LLC now owns 394,239 shares of the company’s stock worth $24,344,000 after buying an additional 51,274 shares during the period. World Asset Management Inc increased its position in shares of Cerner by 2.1% in the third quarter. World Asset Management Inc now owns 29,704 shares of the company’s stock worth $1,834,000 after buying an additional 617 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Cerner by 1,079.4% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 282,408 shares of the company’s stock worth $17,438,000 after buying an additional 258,463 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of Cerner by 0.9% in the third quarter. California State Teachers Retirement System now owns 628,006 shares of the company’s stock worth $38,779,000 after buying an additional 5,300 shares during the period. 80.58% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Cerner (NASDAQ:CERN)

Cerner Co. (NASDAQ:CERN) opened at 57.77 on Monday. The company has a 50 day moving average of $55.14 and a 200 day moving average of $54.60. The company has a market capitalization of $19.05 billion, a PE ratio of 31.23 and a beta of 1.05. Cerner Co. has a 52-week low of $47.01 and a 52-week high of $67.50.

Cerner (NASDAQ:CERN) last announced its earnings results on Thursday, February 9th. The company reported $0.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.61. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Cerner had a return on equity of 18.16% and a net margin of 13.27%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.61 earnings per share. On average, equities research analysts forecast that Cerner Co. will post $2.50 earnings per share for the current fiscal year.

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CERN has been the topic of a number of research analyst reports. Canaccord Genuity reissued a “buy” rating and issued a $59.00 price target on shares of Cerner in a report on Friday, February 10th. Jefferies Group LLC set a $65.00 price target on shares of Cerner and gave the stock a “buy” rating in a report on Sunday, January 15th. KeyCorp reissued a “buy” rating and issued a $69.00 price target on shares of Cerner in a report on Sunday, December 4th. Cantor Fitzgerald reissued a “buy” rating and issued a $66.00 price target on shares of Cerner in a report on Friday, February 10th. Finally, Barclays PLC downgraded shares of Cerner from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $63.00 to $52.00 in a report on Thursday, January 19th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $62.15.

In other news, Chairman Neal L. Patterson sold 20,000 shares of Cerner stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $54.91, for a total transaction of $1,098,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jeffrey A. Townsend sold 100,000 shares of Cerner stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $52.31, for a total value of $5,231,000.00. The disclosure for this sale can be found here. Company insiders own 13.20% of the company’s stock.

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.

5 Day Chart for NASDAQ:CERN

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