Cerner Corp. (CERN) Receives Average Recommendation of “Buy” from Brokerages
Shares of Cerner Corp. (NASDAQ:CERN) have been assigned a consensus rating of “Buy” from the twenty-six research firms that are presently covering the stock. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $66.57.
Several research firms recently weighed in on CERN. Citigroup Inc. lifted their target price on shares of Cerner Corp. from $65.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Barclays PLC lifted their target price on shares of Cerner Corp. from $55.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, August 3rd. JPMorgan Chase & Co. restated a “buy” rating on shares of Cerner Corp. in a report on Wednesday, August 3rd. SunTrust Banks Inc. upgraded shares of Cerner Corp. from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.28 to $65.00 in a report on Thursday, June 23rd. They noted that the move was a valuation call. Finally, Vetr lowered shares of Cerner Corp. from a “hold” rating to a “sell” rating and set a $64.78 target price on the stock. in a report on Monday, August 8th.
In other news, Chairman Neal L. Patterson sold 428,638 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $67.14, for a total value of $28,778,755.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Clifford W. Illig sold 325,705 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $65.10, for a total transaction of $21,203,395.50. Following the completion of the sale, the insider now directly owns 6,652,392 shares of the company’s stock, valued at $433,070,719.20. The disclosure for this sale can be found here. 13.20% of the stock is currently owned by insiders.
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Hedge funds have recently modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in Cerner Corp. during the first quarter worth approximately $106,000. Johnson Financial Group Inc. increased its stake in Cerner Corp. by 37.8% in the second quarter. Johnson Financial Group Inc. now owns 1,882 shares of the company’s stock worth $111,000 after buying an additional 516 shares during the last quarter. Mycio Wealth Partners LLC increased its stake in Cerner Corp. by 33.5% in the second quarter. Mycio Wealth Partners LLC now owns 1,997 shares of the company’s stock worth $117,000 after buying an additional 501 shares during the last quarter. Alpha Windward LLC increased its stake in Cerner Corp. by 2.2% in the second quarter. Alpha Windward LLC now owns 2,061 shares of the company’s stock worth $121,000 after buying an additional 44 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. increased its stake in Cerner Corp. by 16.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,085 shares of the company’s stock worth $122,000 after buying an additional 300 shares during the last quarter. 81.39% of the stock is owned by institutional investors.
Cerner Corp. (NASDAQ:CERN) traded up 0.38% during trading on Thursday, reaching $61.25. The company had a trading volume of 1,182,650 shares. The company has a market capitalization of $20.68 billion, a PE ratio of 33.64 and a beta of 0.79. Cerner Corp. has a 52-week low of $49.59 and a 52-week high of $68.31. The stock has a 50 day moving average price of $62.75 and a 200-day moving average price of $59.31.
Cerner Corp. (NASDAQ:CERN) last posted its earnings results on Tuesday, August 2nd. The company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Cerner Corp. had a net margin of 13.53% and a return on equity of 18.57%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. On average, equities research analysts anticipate that Cerner Corp. will post $2.36 earnings per share for the current fiscal year.
Cerner Corp. Company Profile
Cerner Corporation is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations. Its segments include Domestic and Global. The Domestic segment includes the business activity in the United States.
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