Stifel Nicolaus reiterated their hold rating on shares of Cerner Corporation (NASDAQ:CERN) in a research report released on Friday. Stifel Nicolaus currently has a $69.00 price target on the stock.

CERN has been the subject of a number of other research reports. Canaccord Genuity restated a buy rating and set a $66.00 target price on shares of Cerner Corporation in a report on Friday, June 2nd. J P Morgan Chase & Co restated an overweight rating and set a $72.00 target price (up previously from $65.00) on shares of Cerner Corporation in a report on Tuesday, June 6th. Cantor Fitzgerald restated a buy rating and set a $77.00 target price (up previously from $68.00) on shares of Cerner Corporation in a report on Monday, June 5th. Jefferies Group LLC restated a buy rating and set a $74.00 target price on shares of Cerner Corporation in a report on Thursday, July 6th. Finally, William Blair restated an outperform rating on shares of Cerner Corporation in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Cerner Corporation presently has an average rating of Hold and a consensus price target of $65.32.

Cerner Corporation (NASDAQ:CERN) opened at 64.37 on Friday. The company’s 50-day moving average price is $65.94 and its 200-day moving average price is $60.53. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $69.28. The company has a market cap of $21.31 billion, a price-to-earnings ratio of 32.53 and a beta of 0.96.

Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 EPS. Equities research analysts expect that Cerner Corporation will post $2.51 EPS for the current fiscal year.

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Cerner Corporation declared that its board has initiated a stock repurchase plan on Thursday, May 25th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

In related news, Vice Chairman Clifford W. Illig sold 234,525 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $64.43, for a total value of $15,110,445.75. Following the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at approximately $79,230,795.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Marc G. Naughton sold 60,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $68.63, for a total value of $4,117,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 700,542 shares of company stock worth $45,623,290. 13.20% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in CERN. Retirement Systems of Alabama increased its position in Cerner Corporation by 0.3% in the second quarter. Retirement Systems of Alabama now owns 249,344 shares of the company’s stock valued at $16,574,000 after buying an additional 694 shares during the last quarter. IFP Advisors Inc increased its position in Cerner Corporation by 6.4% in the second quarter. IFP Advisors Inc now owns 10,677 shares of the company’s stock valued at $710,000 after buying an additional 639 shares during the last quarter. ARP Americas LLC increased its position in Cerner Corporation by 4.9% in the second quarter. ARP Americas LLC now owns 4,318 shares of the company’s stock valued at $287,000 after buying an additional 203 shares during the last quarter. Korea Investment CORP increased its position in Cerner Corporation by 53.9% in the second quarter. Korea Investment CORP now owns 141,534 shares of the company’s stock valued at $9,408,000 after buying an additional 49,568 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in Cerner Corporation by 1.8% in the second quarter. Stratos Wealth Partners LTD. now owns 17,628 shares of the company’s stock valued at $1,172,000 after buying an additional 315 shares during the last quarter. 81.78% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Cerner Corporation (NASDAQ:CERN)

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