Cerner’s (CERN) Buy Rating Reiterated at Piper Jaffray Companies
Piper Jaffray Companies reissued their buy rating on shares of Cerner Co. (NASDAQ:CERN) in a research report released on Wednesday. Piper Jaffray Companies currently has a $70.00 price target on the stock.
Several other equities analysts have also recently weighed in on CERN. Royal Bank Of Canada reissued a buy rating on shares of Cerner in a research note on Wednesday, October 25th. Jefferies Group LLC reissued a buy rating on shares of Cerner in a research note on Sunday, October 29th. Zacks Investment Research cut shares of Cerner from a buy rating to a sell rating in a research note on Tuesday, October 31st. BidaskClub cut shares of Cerner from a buy rating to a hold rating in a research note on Tuesday, July 25th. Finally, Stifel Nicolaus reissued a hold rating and issued a $69.00 target price on shares of Cerner in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. Cerner presently has an average rating of Hold and a consensus target price of $69.61.
Shares of Cerner (NASDAQ CERN) opened at $70.57 on Wednesday. The company has a quick ratio of 2.75, a current ratio of 2.77 and a debt-to-equity ratio of 0.11. Cerner has a fifty-two week low of $47.01 and a fifty-two week high of $73.86. The stock has a market cap of $23,458.53, a P/E ratio of 31.23, a PEG ratio of 2.28 and a beta of 0.93.
Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). Cerner 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 last year, the business earned $0.59 earnings per share. Cerner’s revenue for the quarter was up 7.7% on a year-over-year basis. sell-side analysts predict that Cerner will post 2.25 EPS for the current fiscal year.
In other Cerner news, COO Michael Nill sold 99,470 shares of Cerner stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total transaction of $7,007,661.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Randy D. Sims sold 60,000 shares of Cerner stock in a transaction on Friday, September 1st. The stock was sold at an average price of $68.03, for a total transaction of $4,081,800.00. Following the transaction, the senior vice president now directly owns 60,890 shares of the company’s stock, valued at $4,142,346.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 927,470 shares of company stock valued at $61,604,482. Company insiders own 13.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. boosted its position in shares of Cerner by 0.3% in the second quarter. Alps Advisors Inc. now owns 8,693 shares of the company’s stock valued at $578,000 after acquiring an additional 23 shares during the period. Laurel Wealth Advisors Inc. boosted its position in shares of Cerner by 0.6% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,909 shares of the company’s stock valued at $259,000 after acquiring an additional 24 shares during the period. Conning Inc. boosted its position in shares of Cerner by 0.8% in the second quarter. Conning Inc. now owns 7,742 shares of the company’s stock valued at $515,000 after acquiring an additional 58 shares during the period. ProVise Management Group LLC boosted its position in shares of Cerner by 1.3% in the second quarter. ProVise Management Group LLC now owns 5,184 shares of the company’s stock valued at $345,000 after acquiring an additional 69 shares during the period. Finally, Advisory Services Network LLC boosted its position in shares of Cerner 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 acquiring an additional 70 shares during the period. 80.30% of the stock is owned by hedge funds and other institutional investors.
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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