Cerner (CERN) Research Coverage Started at Evercore ISI
Equities research analysts at Evercore ISI started coverage on shares of Cerner (NASDAQ:CERN) in a research note issued to investors on Thursday, The Fly reports. The firm set a $77.00 price target on the stock. Evercore ISI’s target price would suggest a potential upside of 9.56% from the company’s current price.
Other research analysts have also recently issued research reports about the company. SunTrust Banks reiterated a “buy” rating and set a $75.00 price objective on shares of Cerner in a research report on Monday, October 30th. Jefferies Group set a $79.00 price objective on Cerner and gave the stock a “buy” rating in a research report on Friday, October 13th. Robert W. Baird reiterated a “buy” rating on shares of Cerner in a research report on Wednesday, January 3rd. KeyCorp reiterated a “buy” rating and set a $76.00 price objective on shares of Cerner in a research report on Friday, September 22nd. Finally, Leerink Swann reiterated a “hold” rating on shares of Cerner in a research report on Saturday, November 25th. Sixteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Cerner has an average rating of “Hold” and a consensus target price of $70.21.
Cerner (CERN) traded down $0.34 on Thursday, reaching $70.28. The company had a trading volume of 1,945,500 shares, compared to its average volume of 1,631,936. Cerner has a twelve month low of $50.33 and a twelve month high of $73.86. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11. The company has a market cap of $23,100.00, a PE ratio of 34.97, a PEG ratio of 2.10 and a beta of 0.94.
Cerner (NASDAQ:CERN) last posted its quarterly earnings results 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 business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Cerner had a net margin of 13.37% and a return on equity of 18.03%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. analysts predict that Cerner will post 2.24 earnings per share for the current year.
In related news, President Zane M. Burke sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $70.00, for a total value of $3,500,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Clifford W. Illig sold 530,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $65.54, for a total value of $34,736,200.00. Following the completion of the sale, the chairman now directly owns 1,229,719 shares in the company, valued at $80,595,783.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 788,000 shares of company stock worth $52,190,800. 13.11% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Laurel Wealth Advisors Inc. boosted its stake in Cerner by 0.6% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,909 shares of the company’s stock valued at $259,000 after buying an additional 24 shares in the last quarter. Advisory Services Network LLC boosted its stake in Cerner by 4.4% in the second 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 in the last quarter. EagleClaw Capital Managment LLC boosted its stake in Cerner by 0.4% in the second quarter. EagleClaw Capital Managment LLC now owns 26,050 shares of the company’s stock valued at $1,734,000 after buying an additional 100 shares in the last quarter. Gyroscope Capital Management Group LLC boosted its stake in Cerner by 6.5% in the second quarter. Gyroscope Capital Management Group LLC now owns 4,025 shares of the company’s stock valued at $268,000 after buying an additional 246 shares in the last quarter. Finally, Frontier Wealth Management LLC boosted its stake in Cerner by 0.4% in the second quarter. Frontier Wealth Management LLC now owns 66,108 shares of the company’s stock valued at $4,394,000 after buying an additional 265 shares in the last quarter. 81.83% of the stock is currently owned by institutional investors and hedge funds.
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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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