Cerner’s Overweight Rating Reiterated at JPMorgan Chase & Co. (CERN)
Cerner (NASDAQ:CERN)‘s stock had its “overweight” rating restated by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday. They currently have a $67.00 target price on the stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 13.73% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wells Fargo & Co. upgraded shares of Cerner from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 6th. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Cerner in a research note on Friday, July 25th. They now have a $64.00 price target on the stock, up previously from $60.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Cerner in a research note on Friday, July 25th. They now have a $70.00 price target on the stock, up previously from $68.00. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Cerner has a consensus rating of “Buy” and a consensus price target of $63.17.
Cerner (NASDAQ:CERN) traded up 0.67% during mid-day trading on Thursday, hitting $59.30. 915,685 shares of the company’s stock traded hands. Cerner has a 52-week low of $45.81 and a 52-week high of $63.07. The stock has a 50-day moving average of $55.95 and a 200-day moving average of $54.94. The company has a market cap of $20.224 billion and a P/E ratio of 48.68.
Cerner (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $851.80 million for the quarter, compared to the consensus estimate of $813.77 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. Analysts expect that Cerner will post $1.66 EPS for the current fiscal year.
Cerner Corporation is a supplier of healthcare information technology solutions, services, devices and hardware.