Evercore ISI assumed coverage on shares of Cerner (NASDAQ:CERN) in a report published on Thursday. The brokerage issued an in-line rating and a $77.00 target price on the stock.
Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada reaffirmed a buy rating on shares of Cerner in a research report on Wednesday, October 25th. SunTrust Banks reaffirmed a buy rating and issued a $79.00 target price on shares of Cerner in a research report on Thursday, October 19th. Zacks Investment Research raised Cerner from a hold rating to a buy rating and set a $81.00 target price for the company in a research report on Tuesday, October 17th. Jefferies Group set a $79.00 target price on Cerner and gave the stock a buy rating in a research report on Friday, October 13th. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $77.00 target price on shares of Cerner in a research report on Thursday, October 12th. Seventeen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $70.21.
Cerner (CERN) traded down $0.58 during mid-day trading on Thursday, reaching $68.91. The company’s stock had a trading volume of 3,152,493 shares, compared to its average volume of 1,710,000. Cerner has a 1 year low of $50.33 and a 1 year high of $73.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.75 and a current ratio of 2.77. The stock has a market capitalization of $22,720.00, a P/E ratio of 34.28, a PEG ratio of 2.07 and a beta of 0.94.
Cerner (NASDAQ:CERN) last issued its earnings results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). Cerner had a return on equity of 18.03% and a net margin of 13.37%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the company earned $0.59 EPS. Cerner’s quarterly revenue was up 7.7% on a year-over-year basis. equities analysts predict that Cerner will post 2.24 earnings per share for the current fiscal year.
In related news, Chairman Clifford W. Illig sold 4,000 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $65.96, for a total value of $263,840.00. Following the completion of the transaction, the chairman now owns 1,229,719 shares of the company’s stock, valued at $81,112,265.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marc G. Naughton sold 60,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $70.64, for a total value 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 in the last three months. 13.11% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC raised its stake in Cerner 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 in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Cerner during the third quarter valued at approximately $121,000. Steward Partners Investment Advisory LLC acquired a new stake in Cerner during the third quarter valued at approximately $128,000. Sun Life Financial INC raised its stake in Cerner 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 in the last quarter. Finally, ETF Managers Group LLC acquired a new stake in Cerner during the second quarter valued at approximately $157,000. 81.83% of the stock is owned by hedge funds and other institutional investors.
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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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