Cerner (CERN) Now Covered by Barclays

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Barclays assumed coverage on shares of Cerner (NASDAQ:CERN) in a research report released on Thursday, Marketbeat.com reports. The firm issued an equal weight rating and a $70.00 price objective on the stock.

CERN has been the subject of a number of other reports. Royal Bank of Canada reiterated a buy rating and set a $72.00 price objective on shares of Cerner in a report on Friday, August 3rd. KeyCorp increased their price objective on Cerner from $71.00 to $74.00 and gave the stock an overweight rating in a report on Friday, August 3rd. SunTrust Banks increased their price objective on Cerner to $65.00 and gave the stock a hold rating in a report on Monday, August 6th. Cantor Fitzgerald reiterated a buy rating and set a $80.00 price objective on shares of Cerner in a report on Wednesday. Finally, BidaskClub raised Cerner from a sell rating to a hold rating in a research report on Friday, July 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $71.71.

NASDAQ:CERN opened at $64.94 on Thursday. The company has a quick ratio of 2.83, a current ratio of 2.85 and a debt-to-equity ratio of 0.09. The stock has a market cap of $21.31 billion, a P/E ratio of 29.52, a PEG ratio of 2.05 and a beta of 0.97. Cerner has a 52-week low of $52.05 and a 52-week high of $73.86.

Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.33 billion. Cerner had a return on equity of 15.26% and a net margin of 16.06%. Cerner’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. research analysts predict that Cerner will post 2.28 earnings per share for the current year.

In related news, President Zane M. Burke sold 283,539 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $63.68, for a total transaction of $18,055,763.52. Following the completion of the transaction, the president now directly owns 59,539 shares of the company’s stock, valued at $3,791,443.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Linda M. Dillman sold 3,900 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $66.54, for a total value of $259,506.00. The disclosure for this sale can be found here. Insiders have sold 1,270,870 shares of company stock valued at $82,486,031 over the last three months. Insiders own 4.71% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CERN. Harrington Investments INC acquired a new stake in shares of Cerner in the second quarter valued at approximately $1,381,000. Schroder Investment Management Group lifted its position in shares of Cerner by 1.6% in the second quarter. Schroder Investment Management Group now owns 512,588 shares of the company’s stock valued at $30,632,000 after buying an additional 8,300 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Cerner by 11.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 55,359 shares of the company’s stock valued at $3,310,000 after buying an additional 5,905 shares during the last quarter. Bristol John W & Co. Inc. NY lifted its position in shares of Cerner by 0.4% in the second quarter. Bristol John W & Co. Inc. NY now owns 1,014,764 shares of the company’s stock valued at $60,673,000 after buying an additional 4,485 shares during the last quarter. Finally, Andra AP fonden acquired a new stake in shares of Cerner in the second quarter valued at approximately $6,398,000. 76.08% of the stock is owned by hedge funds and other institutional investors.

Cerner Company Profile

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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