Cerner Corp. (CERN) Receives “Buy” Rating from Canaccord Genuity
CERN has been the topic of a number of other research reports. Bank of America Corp. downgraded Cerner Corp. from a neutral rating to an underperform rating in a research note on Monday, November 7th. Zacks Investment Research downgraded Cerner Corp. from a hold rating to a sell rating in a research note on Friday, November 4th. Piper Jaffray Cos. reaffirmed an overweight rating and issued a $81.00 price objective on shares of Cerner Corp. in a research note on Monday, August 29th. Deutsche Bank AG cut their target price on Cerner Corp. from $67.00 to $66.00 and set a buy rating on the stock in a research report on Wednesday, August 3rd. Finally, Leerink Swann set a $65.00 target price on Cerner Corp. and gave the company a buy rating in a research report on Wednesday, November 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $65.11.
Cerner Corp. (NASDAQ:CERN) traded down 0.12% during mid-day trading on Tuesday, hitting $49.14. The stock had a trading volume of 2,654,257 shares. The stock’s 50-day moving average price is $57.78 and its 200-day moving average price is $59.33. Cerner Corp. has a 12 month low of $48.04 and a 12 month high of $67.50. The stock has a market cap of $16.68 billion, a price-to-earnings ratio of 25.99 and a beta of 1.11.
Cerner Corp. (NASDAQ:CERN) last issued its earnings results on Tuesday, November 1st. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by $0.01. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.24 billion. Cerner Corp. had a net margin of 13.85% and a return on equity of 18.39%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.54 EPS. On average, analysts predict that Cerner Corp. will post $2.30 earnings per share for the current year.
In related news, Vice Chairman Clifford W. Illig sold 325,705 shares of Cerner Corp. stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $65.10, for a total value of $21,203,395.50. Following the completion of the transaction, the insider now directly owns 6,652,392 shares in the company, valued at $433,070,719.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Linda M. Dillman sold 6,000 shares of Cerner Corp. stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $64.68, for a total value of $388,080.00. The disclosure for this sale can be found here. 13.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Washington Trust Bank raised its position in Cerner Corp. by 0.4% in the third quarter. Washington Trust Bank now owns 3,664 shares of the company’s stock worth $226,000 after buying an additional 13 shares during the period. Alpha Windward LLC raised its position in Cerner Corp. by 2.2% in the second quarter. Alpha Windward LLC now owns 2,061 shares of the company’s stock worth $121,000 after buying an additional 44 shares during the period. Ranger Investment Management L.P. raised its position in Cerner Corp. by 1.1% in the second quarter. Ranger Investment Management L.P. now owns 4,580 shares of the company’s stock worth $268,000 after buying an additional 50 shares during the period. Laurel Wealth Advisors Inc. raised its position in Cerner Corp. by 1.3% in the third quarter. Laurel Wealth Advisors Inc. now owns 3,866 shares of the company’s stock worth $239,000 after buying an additional 50 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Cerner Corp. by 0.5% in the second quarter. Pacer Advisors Inc. now owns 10,226 shares of the company’s stock worth $599,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 82.43% of the company’s stock.
Cerner Corp. Company Profile
Cerner Corporation 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. Its segments include Domestic and Global. The Domestic segment includes the business activity in the United States.
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