SunTrust Banks, Inc. reaffirmed their buy rating on shares of Cerner Corporation (NASDAQ:CERN) in a report released on Thursday, October 19th. SunTrust Banks, Inc. currently has a $79.00 price target on the stock.
Several other brokerages also recently commented on CERN. William Blair reaffirmed an outperform rating on shares of Cerner Corporation in a research note on Monday, July 10th. BidaskClub downgraded shares of Cerner Corporation from a buy rating to a hold rating in a research note on Tuesday, July 25th. Jefferies Group LLC set a $79.00 price objective on shares of Cerner Corporation and gave the company a buy rating in a research note on Friday, October 13th. Zacks Investment Research raised shares of Cerner Corporation 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. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $69.00 price objective on shares of Cerner Corporation in a research note on Friday, July 28th. Fifteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $69.05.
Shares of Cerner Corporation (CERN) opened at 65.31 on Thursday. Cerner Corporation has a one year low of $47.01 and a one year high of $73.86. The firm has a market cap of $21.66 billion, a price-to-earnings ratio of 33.00 and a beta of 0.95. The stock’s 50 day moving average price is $71.12 and its 200 day moving average price is $66.24.
Cerner Corporation (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.01). Cerner Corporation had a net margin of 13.37% and a return on equity of 18.50%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that Cerner Corporation will post $2.50 earnings per share for the current fiscal year.
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In other 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 legal filing with the SEC, which is accessible through this hyperlink. Also, President Zane M. Burke sold 94,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $67.47, for a total transaction of $6,342,180.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 371,583 shares of company stock worth $24,758,191. Corporate insiders own 13.20% of the company’s stock.
Several large investors have recently bought and sold shares of CERN. Johnson Financial Group Inc. grew its holdings in shares of Cerner Corporation by 2.6% during the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock valued at $110,000 after buying an additional 47 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of Cerner Corporation by 4.4% during the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after buying an additional 70 shares during the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Cerner Corporation by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock valued at $120,000 after buying an additional 900 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Cerner Corporation during the second quarter valued at approximately $130,000. Finally, Sun Life Financial INC grew its holdings in shares of Cerner Corporation by 23,700.0% during the second quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock valued at $142,000 after buying an additional 2,133 shares during the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.
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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