Cerner (NASDAQ:CERN) had its price objective reduced by research analysts at SunTrust Banks from $68.00 to $2.82 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm presently has a “hold” rating on the stock. SunTrust Banks’ target price indicates a potential downside of 95.59% from the company’s previous close.
CERN has been the topic of a number of other research reports. Zacks Investment Research lowered Cerner from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Cantor Fitzgerald raised their price objective on Cerner to $83.00 and gave the company an “overweight” rating in a report on Friday, January 5th. Royal Bank of Canada restated a “buy” rating on shares of Cerner in a report on Wednesday, October 25th. BidaskClub lowered Cerner from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Finally, Stifel Nicolaus restated a “hold” rating on shares of Cerner in a report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $66.36.
Cerner (NASDAQ CERN) opened at $63.99 on Wednesday. Cerner has a 52-week low of $51.26 and a 52-week high of $73.86. The stock has a market capitalization of $21,078.43, a P/E ratio of 31.84, a PEG ratio of 1.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.75 and a current ratio of 2.77.
Cerner (NASDAQ:CERN) last announced its earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.03). The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Cerner had a net margin of 13.37% and a return on equity of 18.03%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $0.61 EPS. analysts expect that Cerner will post 2.24 earnings per share for the current fiscal 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 transaction of $3,500,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael R. Battaglioli sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $69.89, for a total value of $279,560.00. Following the sale, the vice president now directly owns 4,000 shares of the company’s stock, valued at $279,560. The disclosure for this sale can be found here. Insiders have sold a total of 784,000 shares of company stock valued at $51,926,960 over the last three months. Corporate insiders own 13.11% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Laurel Wealth Advisors Inc. increased its position in shares of Cerner by 0.6% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,909 shares of the company’s stock worth $259,000 after purchasing an additional 24 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Cerner 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 acquiring an additional 70 shares during the period. EagleClaw Capital Managment LLC boosted its holdings in Cerner by 0.4% during the 2nd quarter. EagleClaw Capital Managment LLC now owns 26,050 shares of the company’s stock valued at $1,734,000 after acquiring an additional 100 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Cerner by 1.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 16,515 shares of the company’s stock valued at $1,098,000 after acquiring an additional 302 shares during the period. Finally, Thrivent Financial For Lutherans boosted its holdings in Cerner by 3.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 11,110 shares of the company’s stock valued at $738,000 after acquiring an additional 330 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.
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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.