Citigroup began coverage on shares of Cerner (NASDAQ:CERN) in a report published on Thursday, January 4th, The Fly reports. The firm issued a neutral rating on the stock.
Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity restated a buy rating and issued a $69.00 price objective on shares of Cerner in a research note on Wednesday, September 6th. Royal Bank of Canada restated a buy rating on shares of Cerner in a research note on Wednesday, October 25th. SunTrust Banks reaffirmed a buy rating and issued a $79.00 target price on shares of Cerner in a research report on Thursday, October 19th. Zacks Investment Research raised Cerner from a hold rating to a buy rating and set a $81.00 target price for the company in a research report on Tuesday, October 17th. Finally, Jefferies Group set a $79.00 target price on Cerner and gave the stock a buy rating in a research report on Friday, October 13th. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Cerner presently has an average rating of Hold and a consensus target price of $69.83.
Shares of Cerner (NASDAQ:CERN) traded up $0.32 during trading on Thursday, hitting $72.96. 1,750,724 shares of the stock traded hands, compared to its average volume of 1,730,000. The firm has a market capitalization of $24,230.00, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.75 and a current ratio of 2.77. Cerner has a twelve month low of $50.13 and a twelve month high of $73.86.
Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.01). The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Cerner had a return on equity of 18.03% and a net margin of 13.37%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 EPS. analysts anticipate that Cerner will post 2.24 earnings per share for the current year.
In other news, President Zane M. Burke sold 50,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $70.00, for a total value of $3,500,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clifford W. Illig sold 140,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $65.52, for a total value of $9,172,800.00. Following the completion of the sale, the chief executive officer now owns 1,229,719 shares of the company’s stock, valued at $80,571,188.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 788,000 shares of company stock valued at $52,190,800. Company insiders own 13.11% of the company’s stock.
Large investors have recently made changes to their positions in the company. Advisory Services Network LLC increased its position in Cerner by 4.4% in the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after purchasing an additional 70 shares during the period. Acrospire Investment Management LLC increased its position in Cerner by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after purchasing an additional 900 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in Cerner in the third quarter worth about $121,000. Steward Partners Investment Advisory LLC acquired a new stake in Cerner in the third quarter worth about $128,000. Finally, Pacad Investment Ltd. acquired a new stake in Cerner in the second quarter worth about $130,000. Institutional investors own 81.82% of the company’s stock.
Cerner Company Profile
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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