BidaskClub upgraded shares of Cerner (NASDAQ:CERN) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.
Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a buy rating and set a $80.00 price target on shares of Cerner in a research note on Monday, March 5th. Wells Fargo set a $75.00 price target on shares of Cerner and gave the company a buy rating in a research note on Saturday, March 31st. Bank of America began coverage on shares of Cerner in a research note on Tuesday, February 27th. They set a buy rating and a $75.00 price target for the company. Zacks Investment Research downgraded shares of Cerner from a hold rating to a sell rating in a research note on Tuesday, May 8th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $71.00 price target (up previously from $69.00) on shares of Cerner in a research note on Thursday, March 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $68.51.
Shares of Cerner opened at $61.34 on Friday, Marketbeat.com reports. Cerner has a fifty-two week low of $52.05 and a fifty-two week high of $73.86. The company has a current ratio of 2.95, a quick ratio of 2.93 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $20.35 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 1.93 and a beta of 0.96.
In related news, Vice Chairman Clifford W. Illig sold 307,700 shares of Cerner stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $64.52, for a total transaction of $19,852,804.00. Following the completion of the transaction, the insider now owns 1,229,719 shares of the company’s stock, valued at $79,341,469.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Clifford W. Illig sold 3,000 shares of Cerner stock in a transaction on Monday, May 7th. The stock was sold at an average price of $58.32, for a total transaction of $174,960.00. Following the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at approximately $71,717,212.08. The disclosure for this sale can be found here. 4.71% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CERN. Icon Wealth Partners LLC bought a new position in Cerner during the fourth quarter worth $107,000. MV Capital Management Inc. acquired a new stake in Cerner in the first quarter worth $116,000. Cerebellum GP LLC acquired a new stake in Cerner in the fourth quarter worth $127,000. Delpha Capital Management LLC acquired a new stake in Cerner in the fourth quarter worth $144,000. Finally, Archford Capital Strategies LLC acquired a new stake in Cerner in the first quarter worth $181,000. 79.92% of the stock is owned by institutional investors and hedge funds.
Cerner Corporation provides health care information technology solutions and services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.
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