Cerner (CERN) Cut to “Sell” at BidaskClub

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Cerner (NASDAQ:CERN) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

CERN has been the subject of several other research reports. Zacks Investment Research cut Cerner from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. Jefferies Financial Group set a $70.00 price target on Cerner and gave the stock a “buy” rating in a research note on Friday, June 1st. Royal Bank of Canada upped their price target on Cerner from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, May 24th. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 price target on shares of Cerner in a research note on Monday, July 9th. Finally, ValuEngine upgraded Cerner from a “sell” rating to a “hold” rating in a research note on Saturday, June 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $71.83.

Shares of NASDAQ CERN opened at $65.15 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.85 and a quick ratio of 2.83. Cerner has a twelve month low of $52.05 and a twelve month high of $73.86. The company has a market capitalization of $21.57 billion, a price-to-earnings ratio of 29.61, a PEG ratio of 2.08 and a beta of 0.98.

Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Cerner had a return on equity of 15.26% and a net margin of 16.06%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. sell-side analysts anticipate that Cerner will post 2.28 earnings per share for the current year.

In related news, Director Denis A. Cortese sold 5,000 shares of the company’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $60.25, for a total transaction of $301,250.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Zane M. Burke sold 151,818 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $65.44, for a total value of $9,934,969.92. Following the transaction, the president now directly owns 37,418 shares in the company, valued at approximately $2,448,633.92. The disclosure for this sale can be found here. Insiders have sold 861,792 shares of company stock valued at $55,437,371 in the last 90 days. Company insiders own 4.71% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CERN. Schroder Investment Management Group grew its holdings in Cerner by 1.6% in the second quarter. Schroder Investment Management Group now owns 512,588 shares of the company’s stock valued at $30,632,000 after purchasing an additional 8,300 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Cerner by 11.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 55,359 shares of the company’s stock valued at $3,310,000 after purchasing an additional 5,905 shares during the last quarter. Bristol John W & Co. Inc. NY grew its holdings in Cerner by 0.4% in the second quarter. Bristol John W & Co. Inc. NY now owns 1,014,764 shares of the company’s stock valued at $60,673,000 after purchasing an additional 4,485 shares during the last quarter. Andra AP fonden acquired a new stake in Cerner in the second quarter valued at $6,398,000. Finally, NorthCoast Asset Management LLC grew its holdings in Cerner by 3.7% in the second quarter. NorthCoast Asset Management LLC now owns 116,042 shares of the company’s stock valued at $6,938,000 after purchasing an additional 4,149 shares during the last quarter. 76.09% of the stock is currently owned by hedge funds and other institutional investors.

About Cerner

Cerner Corporation provides health care information technology solutions and services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.

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