Cerner Corp.’s Neutral Rating Reaffirmed at Zacks (CERN)
Cerner Corp. (NASDAQ:CERN)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Thursday, Analyst Ratings Network reports. They currently have a $56.00 price objective on the stock. Zacks‘ price target suggests a potential upside of 4.48% from the stock’s previous close.
Zacks‘ analyst wrote, “Cerner’s 2013-fourth quarter earnings per share of $0.36 were up 12.5% year over year and beat the Zacks Consensus Estimate by $0.02. Revenues of $795.3 million also exceeded the mark by 0.3%. We are impressed with the company’s record number of bookings and significant improvement in margins. We believe Cerner is one of the better placed clinical technology vendors to benefit from HCIT spending over the next few years. We are highly optimistic about its partnership deal with Intermountain. On the tepid side, the Federal Stimulus program is winding down but the replacement market is picking up. Competition for hospital funds is fierce. We maintain our Neutral recommendation and set a target of $56.”
Cerner Corp. (NASDAQ:CERN) last announced its earnings results on Tuesday, February 4th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $793.20 million for the quarter, compared to the consensus estimate of $794.22 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis.
A number of other firms have also recently commented on CERN. Analysts at Deutsche Bank cut their price target on shares of Cerner Corp. from $71.00 to $68.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Cerner Corp. from $55.00 to $58.00 in a research note to investors on Wednesday. Finally, analysts at Jefferies Group raised their price target on shares of Cerner Corp. from $62.00 to $67.00 in a research note to investors on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $70.73.
Cerner Corporation is a supplier of healthcare information technology solutions, services, devices and hardware.
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