Cerner Corporation (CERN) Receives Buy Rating from SunTrust Banks, Inc.
Cerner Corporation (NASDAQ:CERN)‘s stock had its “buy” rating restated by analysts at SunTrust Banks, Inc. in a research note issued on Thursday. They presently have a $79.00 price objective on the stock. SunTrust Banks, Inc.’s price target indicates a potential upside of 8.20% from the company’s current price.
CERN has been the subject of a number of other reports. William Blair reiterated an “outperform” rating on shares of Cerner Corporation in a research report on Monday, July 10th. BidaskClub lowered shares of Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Jefferies Group LLC set a $79.00 price objective on shares of Cerner Corporation and gave the company a “buy” rating in a research note on Friday, October 13th. Zacks Investment Research raised shares of Cerner Corporation from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research note on Tuesday, October 17th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $69.00 price objective on shares of Cerner Corporation in a research note on Friday, July 28th. Fourteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Cerner Corporation has an average rating of “Hold” and an average target price of $69.05.
Cerner Corporation (NASDAQ CERN) traded up 0.29% during midday trading on Thursday, reaching $73.01. 3,458,703 shares of the company’s stock traded hands. The company has a market capitalization of $24.21 billion, a price-to-earnings ratio of 36.87 and a beta of 0.95. The firm’s 50-day moving average is $70.84 and its 200-day moving average is $65.92. Cerner Corporation has a 1-year low of $47.01 and a 1-year high of $73.86.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the business earned $0.58 earnings per share. Cerner Corporation’s revenue was up 6.3% on a year-over-year basis. Analysts forecast that Cerner Corporation will post $2.50 earnings per share for the current year.
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In other Cerner Corporation news, SVP Randy D. Sims sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $68.03, for a total transaction of $4,081,800.00. Following the sale, the senior vice president now owns 60,890 shares of the company’s stock, valued at $4,142,346.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Clifford W. Illig sold 118,113 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $62.03, for a total transaction of $7,326,549.39. Following the sale, the chairman now directly owns 1,229,719 shares in the company, valued at approximately $76,279,469.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 371,583 shares of company stock worth $24,758,191. 13.20% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Cerner Corporation by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock valued at $1,947,341,000 after acquiring an additional 876,919 shares during the period. BlackRock Inc. increased its holdings in shares of Cerner Corporation by 0.8% in the 2nd quarter. BlackRock Inc. now owns 18,436,042 shares of the company’s stock valued at $1,225,441,000 after acquiring an additional 137,320 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Cerner Corporation by 19.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,546,618 shares of the company’s stock valued at $1,166,325,000 after acquiring an additional 2,800,955 shares during the period. State Street Corp increased its holdings in shares of Cerner Corporation by 1.8% in the 1st quarter. State Street Corp now owns 12,593,837 shares of the company’s stock valued at $741,147,000 after acquiring an additional 228,570 shares during the period. Finally, Fiduciary Management Inc. WI increased its holdings in shares of Cerner Corporation by 63.2% in the 1st quarter. Fiduciary Management Inc. WI now owns 8,241,408 shares of the company’s stock valued at $485,007,000 after acquiring an additional 3,192,338 shares during the period. 78.94% of the stock is currently 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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