Macguire Cheswick & Tuttle Investment Counsel LLC lessened its holdings in Cerner Co. (NASDAQ:CERN) by 14.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,135 shares of the company’s stock after selling 1,050 shares during the quarter. Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings in Cerner were worth $395,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in CERN. Icon Wealth Partners LLC purchased a new stake in Cerner during the 2nd quarter worth approximately $102,000. Moneta Group Investment Advisors LLC increased its stake in Cerner by 3,608.5% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 31,411 shares of the company’s stock worth $124,000 after buying an additional 30,564 shares in the last quarter. CWM LLC increased its stake in Cerner by 880.5% during the 2nd quarter. CWM LLC now owns 2,510 shares of the company’s stock worth $150,000 after buying an additional 2,254 shares in the last quarter. Alpha Windward LLC purchased a new stake in Cerner during the 2nd quarter worth approximately $160,000. Finally, Qube Research & Technologies Ltd increased its stake in Cerner by 85.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,898 shares of the company’s stock worth $173,000 after buying an additional 1,335 shares in the last quarter. Hedge funds and other institutional investors own 76.33% of the company’s stock.
CERN has been the subject of a number of analyst reports. Zacks Investment Research lowered Cerner from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. BidaskClub cut Cerner from a “hold” rating to a “sell” rating in a report on Friday, August 31st. Royal Bank of Canada cut Cerner from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $72.00 to $54.00 in a report on Friday, October 26th. Barclays initiated coverage on Cerner in a report on Thursday, September 13th. They issued an “equal weight” rating and a $70.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $80.00 price objective on shares of Cerner in a report on Wednesday, September 12th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $69.98.
NASDAQ:CERN opened at $57.57 on Monday. The firm has a market cap of $18.97 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.88 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.60 and a current ratio of 2.63. Cerner Co. has a 52 week low of $50.91 and a 52 week high of $73.43.
In other news, EVP Julie M. Wilson sold 67,574 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $64.73, for a total value of $4,374,065.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Clifford W. Illig sold 250,000 shares of the stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $57.53, for a total value of $14,382,500.00. Following the completion of the sale, the insider now owns 1,229,719 shares in the company, valued at $70,745,734.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,134,070 shares of company stock worth $71,159,251. Insiders own 4.71% of the company’s stock.
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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.
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