Cerner Corporation (CERN) Stock Rating Reaffirmed by Cantor Fitzgerald
Cerner Corporation (NASDAQ:CERN)‘s stock had its “buy” rating reiterated by equities research analysts at Cantor Fitzgerald in a research report issued on Tuesday. They currently have a $77.00 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 7.83% from the stock’s current price.
Several other brokerages have also issued reports on CERN. Zacks Investment Research lowered shares of Cerner Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. KeyCorp reiterated a “buy” rating and issued a $76.00 target price on shares of Cerner Corporation in a research report on Friday, September 22nd. Royal Bank Of Canada assumed coverage on shares of Cerner Corporation in a research report on Tuesday, September 19th. They issued a “top pick” rating and a $84.00 target price for the company. Robert W. Baird reiterated a “hold” rating and issued a $67.00 target price on shares of Cerner Corporation in a research report on Thursday, August 31st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $69.00 target price on shares of Cerner Corporation in a research report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $67.00.
Shares of Cerner Corporation (NASDAQ:CERN) traded up 0.14% during midday trading on Tuesday, hitting $71.51. The company’s stock had a trading volume of 629,152 shares. The stock’s 50 day moving average is $69.25 and its 200-day moving average is $65.24. The firm has a market cap of $23.71 billion, a P/E ratio of 36.12 and a beta of 0.95. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $72.82.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 earnings per share. Equities analysts predict that Cerner Corporation will post $2.50 EPS for the current fiscal year.
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In other Cerner Corporation news, Chairman Clifford W. Illig sold 118,113 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $62.03, for a total transaction of $7,326,549.39. Following the completion of the transaction, the chairman now owns 1,229,719 shares of the company’s stock, valued at $76,279,469.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael Nill sold 99,470 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total transaction of $7,007,661.50. The disclosure for this sale can be found here. Insiders have sold 371,583 shares of company stock valued at $24,758,191 in the last ninety days. Insiders own 13.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in shares of Cerner Corporation by 3,008.5% during the first quarter. BlackRock Inc. now owns 18,298,722 shares of the company’s stock valued at $1,076,881,000 after buying an additional 17,710,062 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cerner Corporation by 138.1% during the third quarter. Bank of New York Mellon Corp now owns 10,706,463 shares of the company’s stock valued at $661,125,000 after buying an additional 6,209,103 shares during the last quarter. Fiduciary Management Inc. WI purchased a new stake in shares of Cerner Corporation during the fourth quarter valued at approximately $239,174,000. UBS Group AG grew its holdings in shares of Cerner Corporation by 1,843.1% during the first quarter. UBS Group AG now owns 5,306,053 shares of the company’s stock valued at $312,261,000 after buying an additional 5,032,976 shares during the last quarter. Finally, Generation Investment Management LLP purchased a new stake in shares of Cerner Corporation during the fourth quarter valued at approximately $284,039,000. 78.94% of the stock is owned by institutional investors and hedge funds.
About Cerner Corporation
Cerner Corporation (Cerner) 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 of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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