Cerner (NASDAQ:CERN) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday, March 15th.
Other research analysts have also issued reports about the company. SunTrust Banks cut their price objective on Cerner from $68.00 to $2.82 and set a “hold” rating on the stock in a research report on Wednesday, February 7th. Cantor Fitzgerald dropped their target price on Cerner from $83.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 7th. Argus downgraded Cerner from a “buy” rating to a “hold” rating and lifted their price target for the stock from $54.49 to $64.65 in a research note on Tuesday, March 13th. Evercore ISI initiated coverage on Cerner in a research note on Thursday, January 18th. They issued an “in-line” rating and a $77.00 price target for the company. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Cerner in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $67.42.
Shares of CERN stock traded down $1.70 during mid-day trading on Thursday, hitting $56.42. 2,983,674 shares of the company’s stock were exchanged, compared to its average volume of 3,355,942. The company has a quick ratio of 2.99, a current ratio of 3.01 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $18,765.12, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 1.64 and a beta of 0.96. Cerner has a fifty-two week low of $55.29 and a fifty-two week high of $73.86.
Cerner (NASDAQ:CERN) last issued its earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.03). Cerner had a return on equity of 16.82% and a net margin of 16.86%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business posted $0.61 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. analysts anticipate that Cerner will post 2.42 earnings per share for the current fiscal year.
In other Cerner news, VP Jeffrey A. Townsend sold 230,000 shares of Cerner stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $61.94, for a total transaction of $14,246,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William D. Zollars sold 4,100 shares of Cerner stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $62.16, for a total transaction of $254,856.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 541,800 shares of company stock worth $34,353,860. Corporate insiders own 13.11% of the company’s stock.
Several institutional investors have recently bought and sold shares of CERN. Leavell Investment Management Inc. boosted its holdings in Cerner by 3.1% in the fourth quarter. Leavell Investment Management Inc. now owns 22,785 shares of the company’s stock worth $1,535,000 after purchasing an additional 693 shares in the last quarter. Resources Investment Advisors Inc. boosted its holdings in Cerner by 1.6% in the fourth quarter. Resources Investment Advisors Inc. now owns 47,051 shares of the company’s stock worth $3,171,000 after purchasing an additional 753 shares in the last quarter. Autus Asset Management LLC boosted its holdings in Cerner by 0.9% in the third quarter. Autus Asset Management LLC now owns 91,911 shares of the company’s stock worth $6,555,000 after purchasing an additional 813 shares in the last quarter. Pinkerton Retirement Specialists LLC boosted its holdings in Cerner by 4.6% in the third quarter. Pinkerton Retirement Specialists LLC now owns 19,310 shares of the company’s stock worth $1,391,000 after purchasing an additional 847 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its holdings in Cerner by 4.3% in the third quarter. Candriam Luxembourg S.C.A. now owns 20,856 shares of the company’s stock worth $1,487,000 after purchasing an additional 857 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.
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Cerner Company Profile
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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