Cerner Corporation (NASDAQ:CERN) has earned an average rating of “Hold” from the twenty-four research firms that are presently covering the stock, MarketBeat reports. Fourteen analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $69.76.
A number of research analysts have recently commented on CERN shares. Cantor Fitzgerald reissued a “buy” rating and issued a $77.00 target price on shares of Cerner Corporation in a report on Tuesday, October 10th. KeyCorp reissued a “buy” rating and issued a $76.00 target price on shares of Cerner Corporation in a report on Friday, September 22nd. Robert W. Baird reissued a “hold” rating and issued a $67.00 target price on shares of Cerner Corporation in a report on Thursday, August 31st. Zacks Investment Research cut shares of Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Canaccord Genuity reissued a “buy” rating and issued a $69.00 target price on shares of Cerner Corporation in a report on Wednesday, September 6th.
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Shares of Cerner Corporation (NASDAQ CERN) traded up 0.25% during trading on Friday, reaching $72.69. 779,351 shares of the company traded hands. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $73.86. The company has a 50-day moving average of $70.00 and a 200-day moving average of $65.53. The stock has a market capitalization of $24.10 billion, a PE ratio of 36.73 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.01). Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the company earned $0.58 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts forecast that Cerner Corporation will post $2.50 earnings per share for the current fiscal year.
In other Cerner Corporation news, COO Michael Nill sold 99,470 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total transaction of $7,007,661.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Randy D. Sims sold 60,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $68.03, for a total transaction of $4,081,800.00. Following the sale, the senior vice president now directly owns 60,890 shares of the company’s stock, valued at approximately $4,142,346.70. The disclosure for this sale can be found here. Insiders have sold a total of 371,583 shares of company stock valued at $24,758,191 in the last three months. Insiders own 13.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Andra AP fonden increased its position in Cerner Corporation by 45.8% during the 2nd quarter. Andra AP fonden now owns 30,900 shares of the company’s stock valued at $2,054,000 after purchasing an additional 9,700 shares during the period. State Farm Mutual Automobile Insurance Co. grew its position in shares of Cerner Corporation by 381.0% during the 2nd quarter. State Farm Mutual Automobile Insurance Co. now owns 429,846 shares of the company’s stock worth $28,572,000 after buying an additional 340,486 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Cerner Corporation by 2.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 937,175 shares of the company’s stock worth $62,295,000 after buying an additional 23,659 shares during the period. IBM Retirement Fund grew its position in shares of Cerner Corporation by 114.6% during the 2nd quarter. IBM Retirement Fund now owns 7,038 shares of the company’s stock worth $523,000 after buying an additional 3,759 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Cerner Corporation by 16.1% during the 2nd quarter. Victory Capital Management Inc. now owns 31,298 shares of the company’s stock worth $2,080,000 after buying an additional 4,340 shares during the period. 78.94% of the stock is owned by institutional investors and hedge funds.
About Cerner Corporation
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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