Cerner (NASDAQ:CERN) had its price target hoisted by Canaccord Genuity from $77.00 to $80.00 in a research report released on Thursday, BenzingaRatingsTable reports. Canaccord Genuity currently has a buy rating on the stock.
A number of other analysts have also recently weighed in on CERN. Zacks Investment Research cut shares of Wix.Com from a hold rating to a sell rating in a report on Monday, April 8th. BidaskClub cut shares of Retrophin from a hold rating to a sell rating in a report on Thursday. Bank of America reaffirmed an underperform rating and issued a GBX 55 ($0.72) target price on shares of Lloyds Banking Group in a report on Tuesday, May 21st. Morgan Stanley set a $165.00 target price on shares of Caterpillar and gave the company a buy rating in a report on Wednesday, April 10th. Finally, Barclays lifted their target price on shares of Worldpay from $131.00 to $136.00 and gave the company an overweight rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. Cerner currently has an average rating of Buy and a consensus target price of $72.43.
CERN stock traded up $0.20 during midday trading on Thursday, reaching $73.12. 165,723 shares of the company were exchanged, compared to its average volume of 2,158,632. The company has a current ratio of 2.58, a quick ratio of 2.55 and a debt-to-equity ratio of 0.09. Cerner has a 1-year low of $48.78 and a 1-year high of $76.47. The company’s 50-day moving average price is $73.23. The company has a market capitalization of $23.56 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 2.06 and a beta of 0.89.
Cerner (NASDAQ:CERN) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Cerner had a net margin of 10.75% and a return on equity of 14.90%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts predict that Cerner will post 2.44 EPS for the current year.
The company also recently disclosed a special dividend, which will be paid on Friday, July 26th. Investors of record on Tuesday, June 18th will be given a $0.18 dividend. The ex-dividend date is Monday, June 17th. Cerner’s dividend payout ratio (DPR) is 32.58%.
In related news, EVP Randy D. Sims sold 48,000 shares of Cerner stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $69.27, for a total value of $3,324,960.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Julie M. Wilson sold 93,500 shares of Cerner stock in a transaction on Monday, May 20th. The shares were sold at an average price of $69.57, for a total transaction of $6,504,795.00. Following the completion of the transaction, the executive vice president now owns 45,510 shares in the company, valued at $3,166,130.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 441,468 shares of company stock worth $30,777,997. 4.71% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Nelson Roberts Investment Advisors LLC purchased a new position in Cerner in the 1st quarter worth approximately $25,000. Moody National Bank Trust Division boosted its stake in shares of Cerner by 72.5% during the 1st quarter. Moody National Bank Trust Division now owns 483 shares of the company’s stock valued at $28,000 after buying an additional 203 shares during the last quarter. Advisory Alpha LLC purchased a new position in shares of Cerner during the 1st quarter valued at approximately $28,000. Creative Financial Designs Inc. ADV boosted its stake in shares of Cerner by 303.4% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 710 shares of the company’s stock valued at $41,000 after buying an additional 534 shares during the last quarter. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Cerner during the 2nd quarter valued at approximately $49,000. Institutional investors own 81.51% of the company’s stock.
Cerner Company Profile
Cerner Corporation provides health care information technology solutions and tech-enabled 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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