Cerner (CERN) Stock Rating Reaffirmed by Royal Bank of Canada

Cerner (NASDAQ:CERN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Royal Bank of Canada in a report released on Wednesday. They presently have a $76.00 price target on the stock. Royal Bank of Canada’s price target points to a potential upside of 19.72% from the stock’s current price.

Several other brokerages have also issued reports on CERN. Cantor Fitzgerald reissued a “buy” rating and issued a $77.00 target price on shares of Cerner in a research report on Tuesday, October 10th. Zacks Investment Research downgraded Cerner from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. SunTrust Banks restated a “buy” rating and issued a $79.00 price target on shares of Cerner in a research note on Thursday, October 19th. Evercore ISI initiated coverage on Cerner in a research note on Thursday, January 18th. They issued an “in-line” rating and a $77.00 price target on the stock. Finally, BidaskClub downgraded Cerner from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $65.89.

Shares of Cerner (NASDAQ CERN) traded down $0.51 during trading hours on Wednesday, hitting $63.48. The stock had a trading volume of 6,099,119 shares, compared to its average volume of 2,170,000. Cerner has a 12-month low of $51.26 and a 12-month high of $73.86. The company has a market cap of $21,100.00, a price-to-earnings ratio of 31.58, a P/E/G ratio of 1.86 and a beta of 0.90. 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 announced its earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.03). Cerner had a return on equity of 18.03% and a net margin of 13.37%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company posted $0.61 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. analysts forecast that Cerner will post 2.24 earnings per share for the current fiscal year.

In other Cerner news, CEO Clifford W. Illig sold 140,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $65.52, for a total transaction of $9,172,800.00. Following the sale, the chief executive officer now directly owns 1,229,719 shares in the company, valued at approximately $80,571,188.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Clifford W. Illig sold 530,000 shares of the stock in a transaction on 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 sale, the chairman now 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 quarter, insiders have sold 784,000 shares of company stock worth $51,926,960. Company insiders own 13.11% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. LS Investment Advisors LLC boosted its stake in Cerner by 7.5% during the 4th quarter. LS Investment Advisors LLC now owns 13,296 shares of the company’s stock valued at $896,000 after purchasing an additional 926 shares during the last quarter. Swiss National Bank boosted its stake in Cerner by 0.5% during the 4th quarter. Swiss National Bank now owns 1,099,872 shares of the company’s stock valued at $74,120,000 after purchasing an additional 5,000 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Cerner by 6.2% during the 4th quarter. California Public Employees Retirement System now owns 646,905 shares of the company’s stock valued at $43,595,000 after buying an additional 37,519 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Cerner by 1,345.9% during the 4th quarter. Teacher Retirement System of Texas now owns 132,518 shares of the company’s stock valued at $8,930,000 after buying an additional 123,353 shares during the period. Finally, WCM Investment Management CA lifted its holdings in shares of Cerner by 11.0% during the 4th quarter. WCM Investment Management CA now owns 1,022,763 shares of the company’s stock valued at $68,924,000 after buying an additional 101,509 shares during the period. Institutional investors and hedge funds own 81.99% 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.

Analyst Recommendations for Cerner (NASDAQ:CERN)

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