TheStreet Lowers Cerner Corp. (CERN) to Hold
A number of other analysts have also commented on the company. Bank of America Corp. lowered Cerner Corp. from a neutral rating to an underperform rating in a report on Monday, November 7th. Canaccord Genuity reissued a buy rating and set a $68.00 price objective on shares of Cerner Corp. in a report on Sunday, September 11th. Vetr lowered Cerner Corp. from a hold rating to a sell rating and set a $64.78 target price for the company. in a report on Monday, August 8th. Stifel Nicolaus began coverage on Cerner Corp. in a report on Wednesday, August 31st. They issued a hold rating for the company. Finally, Piper Jaffray Cos. reaffirmed an overweight rating and issued a $81.00 target price on shares of Cerner Corp. in a report on Monday, August 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $65.11.
Shares of Cerner Corp. (NASDAQ:CERN) opened at 49.20 on Friday. The company’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 firm has a market capitalization of $16.70 billion, a PE ratio of 26.02 and a beta of 1.11.
Cerner Corp. (NASDAQ:CERN) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.24 billion. Cerner Corp. had a return on equity of 18.39% and a net margin of 13.85%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 earnings per share. On average, equities analysts forecast that Cerner Corp. will post $2.30 earnings per share for the current year.
In other Cerner Corp. news, Vice Chairman Clifford W. Illig sold 325,705 shares of Cerner Corp. stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $65.10, for a total value of $21,203,395.50. Following the completion of the sale, the insider now owns 6,652,392 shares of the company’s stock, valued at approximately $433,070,719.20. The transaction was disclosed in a legal filing 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 that occurred on Tuesday, September 6th. The stock was sold at an average price of $64.68, for a total transaction of $388,080.00. The disclosure for this sale can be found here. Corporate insiders own 13.20% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Johnson Financial Group Inc. increased its stake in Cerner Corp. by 37.8% in the second quarter. Johnson Financial Group Inc. now owns 1,882 shares of the company’s stock worth $111,000 after buying an additional 516 shares during the period. Mycio Wealth Partners LLC increased its stake in Cerner Corp. by 33.5% in the second quarter. Mycio Wealth Partners LLC now owns 1,997 shares of the company’s stock worth $117,000 after buying an additional 501 shares during the period. Alpha Windward LLC increased its stake 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. NN Investment Partners Holdings N.V. increased its stake in Cerner Corp. by 16.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,085 shares of the company’s stock worth $122,000 after buying an additional 300 shares during the period. Finally, Acrospire Investment Management LLC increased its stake in Cerner Corp. by 5.0% in the second quarter. Acrospire Investment Management LLC now owns 2,100 shares of the company’s stock worth $123,000 after buying an additional 100 shares during the period. 82.43% of the stock is owned by institutional investors and hedge funds.
About Cerner Corp.
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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