Cerner Corporation (CERN) Stock Rating Reaffirmed by SunTrust Banks, Inc.
Cerner Corporation (NASDAQ:CERN)‘s stock had its “buy” rating reiterated by SunTrust Banks, Inc. in a report issued on Monday. They presently have a $75.00 price target on the stock. SunTrust Banks, Inc.’s price target points to a potential upside of 14.84% from the company’s current price.
A number of other equities research analysts have also weighed in on CERN. Jefferies Group LLC reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Cerner Corporation in a report on Thursday, July 6th. William Blair reaffirmed an “outperform” rating on shares of Cerner Corporation in a report on Monday, July 10th. BidaskClub lowered Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $69.00 price objective on shares of Cerner Corporation in a report on Friday, July 28th. Finally, Zacks Investment Research lowered Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Fifteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $68.85.
Shares of Cerner Corporation (NASDAQ:CERN) traded up 1.78% during mid-day trading on Monday, hitting $66.47. The stock had a trading volume of 1,806,090 shares. The firm has a 50 day moving average price of $71.12 and a 200 day moving average price of $66.32. The firm has a market cap of $22.04 billion, a PE ratio of 33.59 and a beta of 0.95. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $73.86.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). Cerner Corporation had a return on equity of 18.03% and a net margin of 13.37%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the business earned $0.59 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts predict that Cerner Corporation will post $2.44 EPS for the current year.
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In other news, SVP Randy D. Sims sold 60,000 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 60,890 shares of the company’s stock, valued at approximately $4,142,346.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Clifford W. Illig sold 118,113 shares of the business’s stock in a transaction 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 sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at $76,279,469.57. The disclosure for this sale can be found here. Insiders have sold a total of 371,583 shares of company stock valued at $24,758,191 over the last three months. Corporate insiders own 13.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. ETF Managers Group LLC purchased a new stake in shares of Cerner Corporation during the 2nd quarter valued at $157,000. Advisory Services Network LLC grew its stake in shares of Cerner Corporation by 4.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after buying an additional 70 shares during the period. Acrospire Investment Management LLC grew its stake in shares of Cerner Corporation by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock valued at $120,000 after buying an additional 900 shares during the period. Pacad Investment Ltd. purchased a new stake in shares of Cerner Corporation during the 2nd quarter valued at $130,000. Finally, Sun Life Financial INC grew its stake in shares of Cerner Corporation by 23,700.0% during the 2nd quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock valued at $142,000 after buying an additional 2,133 shares during the period. 78.90% of the stock is owned by institutional investors.
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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