Brokerages Set Cerner Corporation (CERN) Target Price at $67.73
Shares of Cerner Corporation (NASDAQ:CERN) have been given a consensus recommendation of “Hold” by the twenty-three ratings firms that are presently covering the firm, MarketBeat reports. Fifteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $68.20.
Several brokerages recently issued reports on CERN. UBS AG reaffirmed a “neutral” rating and set a $69.00 target price (up from $64.00) on shares of Cerner Corporation in a research report on Tuesday, June 6th. Morgan Stanley raised Cerner Corporation from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $59.00 to $62.00 in a research report on Thursday, August 10th. BidaskClub lowered Cerner Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Royal Bank Of Canada began coverage on Cerner Corporation in a research report on Tuesday, September 19th. They set a “top pick” rating and a $84.00 target price for the company. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $74.00 target price on shares of Cerner Corporation in a research report on Thursday, June 1st.
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In other news, Chairman Clifford W. Illig sold 118,113 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $62.03, for a total value of $7,326,549.39. Following the completion of the sale, the chairman now directly owns 1,229,719 shares in the company, valued at approximately $76,279,469.57. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Zane M. Burke sold 94,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $67.47, for a total value of $6,342,180.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 371,583 shares of company stock valued at $24,758,191. 13.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. ETF Managers Group LLC acquired a new stake in shares of Cerner Corporation in the 2nd quarter valued at about $157,000. Advisory Services Network LLC boosted its stake in Cerner Corporation by 4.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after purchasing an additional 70 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in Cerner Corporation by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock valued at $120,000 after purchasing an additional 900 shares during the last quarter. Johnson Financial Group Inc. boosted its stake in Cerner Corporation by 2.6% during the 1st quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock valued at $110,000 after purchasing an additional 47 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new position in Cerner Corporation during the 2nd quarter valued at about $130,000. Institutional investors own 78.92% of the company’s stock.
Shares of Cerner Corporation (NASDAQ CERN) traded down 0.46% during midday trading on Wednesday, hitting $69.31. The company had a trading volume of 839,287 shares. The stock’s 50-day moving average price is $66.04 and its 200-day moving average price is $63.61. The stock has a market capitalization of $22.98 billion, a price-to-earnings ratio of 35.02 and a beta of 0.95. Cerner Corporation has a one year low of $47.01 and a one year high of $72.27.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.01). Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Analysts predict that Cerner Corporation will post $2.50 EPS for the current year.
Cerner Corporation 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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