Analysts at Citigroup initiated coverage on shares of Cerner (NASDAQ:CERN) in a research note issued on Thursday. The firm set a “neutral” rating on the stock.
A number of other equities research analysts have also weighed in on CERN. Robert W. Baird restated a “buy” rating on shares of Cerner in a research report on Wednesday. Piper Jaffray Companies restated a “buy” rating and set a $70.00 price objective on shares of Cerner in a research report on Thursday, November 30th. Jefferies Group reaffirmed a “buy” rating on shares of Cerner in a report on Sunday, October 29th. Zacks Investment Research downgraded Cerner from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $79.00 target price on shares of Cerner in a report on Thursday, October 19th. Fifteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.50.
Cerner (CERN) opened at $69.07 on Thursday. Cerner has a 52 week low of $47.09 and a 52 week high of $73.86. The company has a quick ratio of 2.75, a current ratio of 2.77 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $22,793.69, a price-to-earnings ratio of 34.36, a PEG ratio of 2.06 and a beta of 0.94.
Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Cerner had a return on equity of 18.03% and a net margin of 13.37%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. sell-side analysts expect that Cerner will post 2.24 earnings per share for the current year.
In other Cerner news, Chairman Clifford W. Illig sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $65.96, for a total transaction of $263,840.00. Following the completion of the sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at approximately $81,112,265.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marc G. Naughton sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $70.64, for a total value of $4,238,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 788,000 shares of company stock valued at $52,190,800 over the last three months. Corporate insiders own 13.11% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. ETF Managers Group LLC purchased a new stake in shares of Cerner during the second quarter worth $157,000. Advisory Services Network LLC lifted its position in shares of Cerner by 4.4% during the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after acquiring an additional 70 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Cerner during the third quarter worth $121,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Cerner during the third quarter worth $128,000. Finally, Acrospire Investment Management LLC raised its position in shares of Cerner by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after buying an additional 900 shares in the last quarter. 81.82% of the stock is owned by institutional investors.
Cerner Company Profile
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.