RBC Capital Initiates Coverage on Cerner Corp. (CERN)
Equities researchers at RBC Capital assumed coverage on shares of Cerner Corp. (NASDAQ:CERN) in a research report issued on Thursday, Analyst Ratings Network.com reports. The firm set an “outperform” rating on the stock.
A number of other analysts have also recently weighed in on CERN. Analysts at Zacks reiterated a “neutral” rating on shares of Cerner Corp. in a research note on Thursday, February 6th. They now have a $56.00 price target on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of Cerner Corp. from $71.00 to $68.00 in a research note on Wednesday, February 5th. They now have a “buy” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Cerner Corp. from $55.00 to $58.00 in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cerner Corp. presently has a consensus rating of “Buy” and a consensus target price of $70.73.
In other Cerner Corp. news, CAO Michael Battaglioli unloaded 2,000 shares of the stock on the open market in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $56.08, for a total value of $112,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Cerner Corp. (NASDAQ:CERN) traded up 2.30% during mid-day trading on Thursday, hitting $59.28. The stock had a trading volume of 2,531,393 shares. Cerner Corp. has a 1-year low of $42.50 and a 1-year high of $59.42. The stock has a 50-day moving average of $55.40 and a 200-day moving average of $53.43. The company has a market cap of $20.389 billion and a P/E ratio of 51.28.
Cerner Corp. (NASDAQ:CERN) last released its earnings data on Tuesday, February 4th. The company reported $0.39 EPS for the quarter, meeting the Thomson Reuters 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. Analysts expect that Cerner Corp. will post $1.66 EPS for the current fiscal year.
Cerner Corporation is a supplier of healthcare information technology solutions, services, devices and hardware.
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