Several other brokerages also recently commented on CERN. SVB Leerink started coverage on shares of Cerner in a research report on Monday, April 13th. They issued an “outperform” rating and a $78.00 price target for the company. Barclays reduced their target price on Cerner from $72.00 to $67.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Morgan Stanley lifted their price target on Cerner from $52.00 to $58.00 and gave the company an “underweight” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. decreased their price objective on Cerner from $75.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, March 11th. Finally, Stifel Nicolaus dropped their target price on Cerner from $81.00 to $75.00 in a report on Wednesday, March 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $78.80.
Shares of Cerner stock opened at $68.55 on Monday. Cerner has a 12-month low of $53.08 and a 12-month high of $80.90. The firm has a market capitalization of $20.25 billion, a PE ratio of 42.58, a price-to-earnings-growth ratio of 2.09 and a beta of 0.87. The company has a quick ratio of 1.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average is $69.31 and its 200-day moving average is $70.36.
Cerner (NASDAQ:CERN) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.01. Cerner had a return on equity of 18.20% and a net margin of 8.93%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business posted $0.61 EPS. Cerner’s revenue was up 1.6% on a year-over-year basis. Analysts expect that Cerner will post 2.5 EPS for the current year.
In other Cerner news, CAO Michael R. Battaglioli sold 4,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $71.31, for a total transaction of $285,240.00. Following the completion of the sale, the chief accounting officer now directly owns 2,712 shares in the company, valued at $193,392.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Brent Shafer sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $72.42, for a total value of $869,040.00. Following the completion of the sale, the chief executive officer now directly owns 12,000 shares in the company, valued at $869,040. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,834 shares of company stock valued at $9,481,016. Corporate insiders own 0.33% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. AJO LP increased its position in Cerner by 13.9% in the 1st quarter. AJO LP now owns 448,121 shares of the company’s stock worth $28,226,000 after buying an additional 54,673 shares during the period. Blair William & Co. IL grew its stake in shares of Cerner by 28.2% in the first quarter. Blair William & Co. IL now owns 81,034 shares of the company’s stock worth $5,104,000 after acquiring an additional 17,814 shares during the last quarter. Franklin Resources Inc. increased its position in Cerner by 29.0% during the fourth quarter. Franklin Resources Inc. now owns 302,511 shares of the company’s stock worth $22,201,000 after acquiring an additional 67,951 shares during the period. Guggenheim Capital LLC raised its stake in Cerner by 8.1% during the 4th quarter. Guggenheim Capital LLC now owns 137,983 shares of the company’s stock valued at $10,126,000 after purchasing an additional 10,300 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its holdings in Cerner by 43.9% in the 1st quarter. CIBC World Markets Inc. now owns 8,325 shares of the company’s stock valued at $524,000 after purchasing an additional 2,539 shares during the period. Hedge funds and other institutional investors own 82.75% of the company’s stock.
Cerner Company Profile
Cerner Corporation provides health care information technology solutions and tech-enabled 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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