Cerner Corporation (NASDAQ:CERN)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group LLC in a report released on Sunday, October 29th.
A number of other equities research analysts have also recently issued reports on CERN. Morgan Stanley upgraded Cerner Corporation from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $59.00 to $62.00 in a report on Thursday, August 10th. BidaskClub upgraded Cerner Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Zacks Investment Research cut Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $69.00 price target on shares of Cerner Corporation in a research note on Friday, July 28th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $79.00 price target on shares of Cerner Corporation in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $69.79.
Shares of Cerner Corporation (NASDAQ CERN) opened at $65.07 on Friday. Cerner Corporation has a 1-year low of $47.01 and a 1-year high of $73.86. The stock has a market capitalization of $21,763.21, a P/E ratio of 28.97, a PEG ratio of 2.11 and a beta of 0.93. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11.
Cerner Corporation (NASDAQ:CERN) last issued 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 return on equity of 18.03% and a net margin of 13.37%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The company’s revenue was up 7.7% on a year-over-year basis. equities research analysts expect that Cerner Corporation will post 2.26 EPS for the current year.
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In other news, Chairman Clifford W. Illig sold 4,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $65.96, for a total transaction of $263,840.00. Following the completion of the transaction, the chairman now directly owns 1,229,719 shares in the company, valued at $81,112,265.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Randy D. Sims sold 60,000 shares of the company’s 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 owns 60,890 shares of the company’s stock, valued at $4,142,346.70. The disclosure for this sale can be found here. Insiders have sold 257,470 shares of company stock valued at $17,695,482 over the last quarter. Company insiders own 13.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kalos Management Inc. increased its holdings in Cerner Corporation by 32.9% in the third quarter. Kalos Management Inc. now owns 13,155 shares of the company’s stock valued at $938,000 after purchasing an additional 3,254 shares during the period. Capital International Investors increased its holdings in Cerner Corporation by 0.3% in the third quarter. Capital International Investors now owns 4,851,296 shares of the company’s stock valued at $345,994,000 after purchasing an additional 12,178 shares during the period. Janus Henderson Group PLC increased its holdings in Cerner Corporation by 5.2% in the third quarter. Janus Henderson Group PLC now owns 634,137 shares of the company’s stock valued at $45,224,000 after purchasing an additional 31,131 shares during the period. Vident Investment Advisory LLC increased its holdings in Cerner Corporation by 1,075.7% in the third quarter. Vident Investment Advisory LLC now owns 50,239 shares of the company’s stock valued at $3,583,000 after purchasing an additional 45,966 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its holdings in Cerner Corporation by 4.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 277,698 shares of the company’s stock valued at $19,804,000 after purchasing an additional 12,432 shares during the period. Institutional investors and hedge funds own 78.26% of the company’s stock.
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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