BidaskClub upgraded shares of Cerner (NASDAQ:CERN) from a sell rating to a hold rating in a research report report published on Wednesday.
Several other analysts have also recently issued reports on the company. Royal Bank of Canada cut Cerner from an outperform rating to a sector perform rating and cut their target price for the stock from $72.00 to $54.00 in a research note on Friday, October 26th. Leerink Swann raised Cerner from a market perform rating to an outperform rating and set a $70.00 target price on the stock in a research note on Monday, October 29th. Morgan Stanley cut their target price on Cerner from $72.00 to $68.00 and set an equal weight rating on the stock in a research note on Monday, December 3rd. Zacks Investment Research cut Cerner from a hold rating to a sell rating in a research note on Friday, February 1st. Finally, Barclays cut their target price on Cerner from $70.00 to $67.00 and set an equal weight rating on the stock in a research note on Friday, October 26th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $68.90.
NASDAQ CERN opened at $57.91 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 2.38 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $18.78 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 1.92 and a beta of 0.99. Cerner has a 1 year low of $48.78 and a 1 year high of $67.57.
Cerner (NASDAQ:CERN) last posted its earnings results on Tuesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Cerner had a return on equity of 14.84% and a net margin of 11.74%. Cerner’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.58 earnings per share. As a group, analysts anticipate that Cerner will post 2.37 EPS for the current fiscal year.
In other Cerner news, Vice Chairman Clifford W. Illig sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $57.19, for a total value of $285,950.00. Following the completion of the sale, the insider now directly owns 1,229,719 shares in the company, valued at $70,327,629.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Clifford W. Illig sold 435,000 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $57.95, for a total transaction of $25,208,250.00. The disclosure for this sale can be found here. Company insiders own 4.71% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Essex Savings Bank purchased a new position in shares of Cerner during the fourth quarter valued at approximately $27,000. JNBA Financial Advisors purchased a new position in shares of Cerner during the fourth quarter valued at approximately $34,000. Financial Gravity Companies Inc. purchased a new position in shares of Cerner during the fourth quarter valued at approximately $44,000. Lindbrook Capital LLC purchased a new position in shares of Cerner during the fourth quarter valued at approximately $62,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Cerner by 4,852.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,597,804 shares of the company’s stock valued at $69,000 after purchasing an additional 3,525,157 shares during the last quarter. Institutional investors and hedge funds own 79.40% of the company’s stock.
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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