Cerner (NASDAQ:CERN) had its target price increased by investment analysts at Cantor Fitzgerald to $83.00 in a note issued to investors on Friday. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 17.68% from the stock’s current price.
A number of other research analysts have also weighed in on CERN. Royal Bank of Canada initiated coverage on shares of Cerner in a research report on Tuesday, September 19th. They set a “top pick” rating and a $84.00 price target on the stock. KeyCorp reissued a “buy” rating and set a $76.00 price target on shares of Cerner in a research report on Friday, September 22nd. Zacks Investment Research lowered shares of Cerner from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Piper Jaffray Companies reissued a “buy” rating and set a $77.00 price target on shares of Cerner in a research report on Thursday, October 12th. Finally, Jefferies Group set a $79.00 price target on shares of Cerner and gave the company a “buy” rating in a research report on Friday, October 13th. Fifteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Cerner presently has an average rating of “Hold” and an average price target of $69.94.
Shares of Cerner (CERN) traded up $1.52 during midday trading on Friday, hitting $70.53. 2,411,076 shares of the stock were exchanged, compared to its average volume of 1,459,394. The firm has a market capitalization of $23,450.00, a PE ratio of 35.09, a P/E/G ratio of 2.07 and a beta of 0.94. Cerner has a 52-week low of $47.09 and a 52-week high of $73.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75.
Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Cerner had a net margin of 13.37% and a return on equity of 18.03%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. research analysts forecast that Cerner will post 2.24 EPS for the current year.
In other news, Chairman Clifford W. Illig sold 4,000 shares of Cerner stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $65.96, for a total value of $263,840.00. Following the completion of the transaction, the chairman now owns 1,229,719 shares in the company, valued at $81,112,265.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marc G. Naughton sold 60,000 shares of Cerner stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $70.64, for a total transaction of $4,238,400.00. The disclosure for this sale can be found here. Insiders sold 788,000 shares of company stock valued at $52,190,800 in the last quarter. Corporate insiders own 13.11% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of CERN. Victory Capital Management Inc. increased its stake in shares of Cerner by 16.1% in the second quarter. Victory Capital Management Inc. now owns 31,298 shares of the company’s stock worth $2,080,000 after purchasing an additional 4,340 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Cerner by 34.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 15,075 shares of the company’s stock worth $1,002,000 after purchasing an additional 3,837 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Cerner by 6.4% in the second quarter. Principal Financial Group Inc. now owns 453,958 shares of the company’s stock worth $30,175,000 after purchasing an additional 27,420 shares in the last quarter. Pacad Investment Ltd. purchased a new position in Cerner during the second quarter valued at approximately $130,000. Finally, State of Tennessee Treasury Department grew its stake in Cerner by 15.1% during the second quarter. State of Tennessee Treasury Department now owns 107,819 shares of the company’s stock valued at $7,167,000 after acquiring an additional 14,162 shares in the last quarter. Hedge funds and other institutional investors own 81.82% of the company’s stock.
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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.