Cerner Corp. (CERN) Receives “Outperform” Rating from Oppenheimer Holdings Inc.
Cerner Corp. (NASDAQ:CERN)‘s stock had its “outperform” rating reissued by equities research analysts at Oppenheimer Holdings Inc. in a report issued on Friday. They presently have a $67.00 target price on the stock. Oppenheimer Holdings Inc.’s price target suggests a potential upside of 9.93% from the stock’s previous close.
Several other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded Cerner Corp. from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a report on Tuesday, October 4th. Bank of America Corp. assumed coverage on Cerner Corp. in a report on Monday, September 19th. They set a “neutral” rating and a $67.00 price target for the company. Canaccord Genuity restated a “buy” rating and set a $68.00 price target on shares of Cerner Corp. in a report on Sunday, September 11th. Cowen and Company downgraded Cerner Corp. from an “outperform” rating to a “market perform” rating and set a $65.00 price target for the company. in a report on Thursday, September 8th. Finally, Stifel Nicolaus assumed coverage on Cerner Corp. in a report on Wednesday, August 31st. They set a “hold” rating for the company. Nine research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cerner Corp. presently has a consensus rating of “Buy” and a consensus target price of $66.35.
Shares of Cerner Corp. (NASDAQ:CERN) opened at 60.95 on Friday. The firm’s 50-day moving average is $62.56 and its 200 day moving average is $59.39. The stock has a market capitalization of $20.58 billion, a P/E ratio of 33.47 and a beta of 0.79. Cerner Corp. has a 12-month low of $49.59 and a 12-month high of $68.31.
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Cerner Corp. (NASDAQ:CERN) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The business earned $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. Cerner Corp. had a return on equity of 18.57% and a net margin of 13.53%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. On average, equities research analysts forecast that Cerner Corp. will post $2.36 EPS for the current fiscal year.
In other Cerner Corp. news, Director Linda M. Dillman sold 6,000 shares of Cerner Corp. stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $64.68, for a total value of $388,080.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Neal L. Patterson sold 428,638 shares of Cerner Corp. stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $67.14, for a total value of $28,778,755.32. The disclosure for this sale can be found here. 13.20% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in CERN. 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. 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. Finally, Acrospire Investment Management LLC increased its stake in Cerner Corp. by 5.0% in the second quarter. Acrospire Investment Management LLC now owns 2,100 shares of the company’s stock worth $123,000 after buying an additional 100 shares during the last quarter. 81.39% of the stock is currently owned by institutional investors and hedge funds.
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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