Shares of Cerner Co. (NASDAQ:CERN) have been given a consensus rating of “Hold” by the nineteen ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $68.90.
CERN has been the topic of several recent research reports. Zacks Investment Research upgraded Cerner from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Royal Bank of Canada lowered Cerner from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $72.00 to $54.00 in a research report on Friday, October 26th. Barclays cut their price objective on Cerner from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday, October 26th. Cantor Fitzgerald cut their price objective on Cerner from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, October 26th. Finally, Leerink Swann upgraded Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research report on Monday, October 29th.
CERN traded up $0.41 on Friday, hitting $56.01. 2,017,700 shares of the company were exchanged, compared to its average volume of 2,436,774. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.41 and a quick ratio of 2.60. Cerner has a 12 month low of $48.78 and a 12 month high of $67.57. The firm has a market cap of $18.32 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.86 and a beta of 0.99.
Cerner (NASDAQ:CERN) last posted its quarterly earnings results on Tuesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. Cerner had a return on equity of 14.84% and a net margin of 11.74%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company earned $0.58 EPS. Cerner’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cerner will post 2.4 EPS for the current year.
In other news, Vice Chairman Clifford W. Illig sold 5,000 shares of Cerner stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $57.19, for a total value of $285,950.00. Following the sale, the insider now directly owns 1,229,719 shares in the company, valued at approximately $70,327,629.61. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Clifford W. Illig sold 435,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $57.95, for a total value of $25,208,250.00. The disclosure for this sale can be found here. 4.71% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CERN. Bank of New York Mellon Corp lifted its stake in shares of Cerner by 191,922.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 15,043,035 shares of the company’s stock valued at $968,920,000 after purchasing an additional 15,035,201 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Cerner by 4,852.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,597,804 shares of the company’s stock valued at $69,000 after purchasing an additional 3,525,157 shares during the period. Parnassus Investments CA lifted its stake in shares of Cerner by 36.5% in the 4th quarter. Parnassus Investments CA now owns 9,829,823 shares of the company’s stock valued at $515,476,000 after purchasing an additional 2,626,045 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of Cerner in the 3rd quarter valued at approximately $108,027,000. Finally, BlackRock Inc. lifted its stake in shares of Cerner by 5.4% in the 4th quarter. BlackRock Inc. now owns 22,078,769 shares of the company’s stock valued at $1,157,811,000 after purchasing an additional 1,122,165 shares during the period. Institutional investors own 77.60% of the company’s stock.
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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