Cerner (NASDAQ:CERN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a report released on Wednesday. They presently have a $80.00 price objective on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 29.03% from the stock’s previous close.
The analysts wrote, “Various news outlets are suggesting that President Trump will soon replace VA Secretary David Shulkin.””
Other analysts also recently issued reports about the company. SunTrust Banks decreased their price target on Cerner from $68.00 to $2.82 and set a “hold” rating for the company in a report on Wednesday, February 7th. Argus downgraded Cerner from a “buy” rating to a “hold” rating and lifted their price target for the stock from $54.49 to $64.65 in a report on Tuesday. Evercore ISI assumed coverage on Cerner in a report on Thursday, January 18th. They set an “in-line” rating and a $77.00 price target for the company. Canaccord Genuity reaffirmed a “buy” rating on shares of Cerner in a report on Wednesday, February 7th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $76.00 price target on shares of Cerner in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $67.50.
Cerner (NASDAQ:CERN) last released its earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.03). The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Cerner had a net margin of 16.86% and a return on equity of 16.82%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. equities analysts anticipate that Cerner will post 2.42 earnings per share for the current fiscal year.
In related news, VP Jeffrey A. Townsend sold 230,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $61.94, for a total value of $14,246,200.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Clifford W. Illig sold 307,700 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $64.52, for a total value of $19,852,804.00. Following the completion of the transaction, the insider now owns 1,229,719 shares in the company, valued at approximately $79,341,469.88. The disclosure for this sale can be found here. Insiders have sold 541,800 shares of company stock worth $34,353,860 in the last quarter. Insiders own 13.11% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Icon Wealth Partners LLC acquired a new position in Cerner in the 4th quarter valued at about $107,000. Fuller & Thaler Asset Management Inc. acquired a new position in Cerner in the 3rd quarter valued at about $121,000. Steward Partners Investment Advisory LLC acquired a new position in Cerner in the 3rd quarter valued at about $128,000. Cerebellum GP LLC acquired a new position in Cerner in the 4th quarter valued at about $127,000. Finally, Delpha Capital Management LLC acquired a new position in Cerner in the 4th quarter valued at about $144,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.
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.
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