Cerner Corporation’s (CERN) “Buy” Rating Reiterated at Royal Bank Of Canada
Cerner Corporation (NASDAQ:CERN)‘s stock had its “buy” rating reiterated by analysts at Royal Bank Of Canada in a note issued to investors on Wednesday. They currently have a $74.00 price objective on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 5.67% from the company’s current price.
Several other analysts also recently commented on the stock. Robert W. Baird restated a “hold” rating and set a $67.00 target price on shares of Cerner Corporation in a report on Thursday, August 31st. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $77.00 price target on shares of Cerner Corporation in a research note on Tuesday, October 10th. J P Morgan Chase & Co downgraded Cerner Corporation from an “overweight” rating to a “neutral” rating in a research note on Friday, October 27th. Zacks Investment Research cut Cerner Corporation from a “buy” rating to a “sell” rating in a report on Tuesday, October 31st. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $79.00 price target on shares of Cerner Corporation in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. Cerner Corporation has an average rating of “Hold” and a consensus target price of $69.61.
Cerner Corporation (NASDAQ:CERN) traded up $3.35 during mid-day trading on Wednesday, reaching $70.03. 8,604,900 shares of the company’s stock traded hands, compared to its average volume of 2,382,869. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $73.86. The company has a market capitalization of $22,165.43, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 2.14 and a beta of 0.93.
Cerner Corporation (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). Cerner Corporation had a net margin of 13.37% and a return on equity of 18.03%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company posted $0.59 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. sell-side analysts expect that Cerner Corporation will post 2.26 earnings per share for the current fiscal year.
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In other news, President Zane M. Burke sold 94,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $67.47, for a total transaction of $6,342,180.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Randy D. Sims sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $68.03, for a total value of $4,081,800.00. Following the transaction, the senior vice president now owns 60,890 shares in the company, valued at $4,142,346.70. The disclosure for this sale can be found here. Insiders have sold a total of 927,470 shares of company stock worth $61,604,482 in the last ninety days. Insiders own 13.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CERN. Advisory Services Network LLC raised its holdings in shares of Cerner Corporation by 4.4% in the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after buying an additional 70 shares during the last quarter. Acrospire Investment Management LLC raised its holdings in shares of Cerner Corporation by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock valued at $120,000 after buying an additional 900 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Cerner Corporation in the third quarter valued at about $121,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Cerner Corporation in the third quarter valued at about $128,000. Finally, Pacad Investment Ltd. purchased a new stake in shares of Cerner Corporation in the second quarter valued at about $130,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.
About Cerner Corporation
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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