Cerner (CERN) Price Target Raised to $71.00 at Royal Bank of Canada

Cerner (NASDAQ:CERN) had its target price boosted by Royal Bank of Canada from $67.00 to $71.00 in a research report report published on Thursday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the company. BidaskClub upgraded Cerner from a sell rating to a hold rating in a report on Saturday, May 19th. ValuEngine upgraded Cerner from a sell rating to a hold rating in a report on Friday, May 18th. Jefferies Group set a $68.00 price objective on Cerner and gave the company a buy rating in a report on Friday, May 18th. Cantor Fitzgerald restated a buy rating and set a $70.00 price objective on shares of Cerner in a report on Thursday, May 17th. Finally, Zacks Investment Research cut Cerner from a hold rating to a sell rating in a report on Tuesday, May 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’s stock. The company has a consensus rating of Hold and a consensus target price of $68.74.

NASDAQ CERN opened at $59.44 on Thursday. The company has a market cap of $19.73 billion, a PE ratio of 27.02, a P/E/G ratio of 1.87 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.93 and a current ratio of 2.95. Cerner has a fifty-two week low of $52.05 and a fifty-two week high of $73.86.

Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Wednesday, May 2nd. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.58. Cerner had a return on equity of 15.80% and a net margin of 16.50%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business earned $0.59 EPS. Cerner’s revenue was up 2.6% compared to the same quarter last year. equities analysts expect that Cerner will post 2.28 earnings per share for the current year.

In other news, Vice Chairman Clifford W. Illig sold 3,000 shares of the business’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $58.32, for a total value of $174,960.00. Following the completion of the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at approximately $71,717,212.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Clifford W. Illig sold 307,700 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $64.52, for a total value of $19,852,804.00. Following the completion of the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at $79,341,469.88. The disclosure for this sale can be found here. Insiders sold a total of 327,948 shares of company stock valued at $21,083,917 over the last quarter. Company insiders own 4.71% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CERN. Bank of Montreal Can raised its position in shares of Cerner by 42.7% in the 4th quarter. Bank of Montreal Can now owns 209,232 shares of the company’s stock worth $14,099,000 after acquiring an additional 62,558 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Cerner by 4.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,087,601 shares of the company’s stock worth $73,294,000 after acquiring an additional 48,289 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Cerner by 184.2% in the 4th quarter. State of Alaska Department of Revenue now owns 42,735 shares of the company’s stock worth $2,879,000 after acquiring an additional 27,700 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Cerner by 0.8% in the 4th quarter. Chevy Chase Trust Holdings Inc. now owns 279,377 shares of the company’s stock worth $18,828,000 after acquiring an additional 2,332 shares in the last quarter. Finally, Strs Ohio raised its position in shares of Cerner by 54.9% in the 4th quarter. Strs Ohio now owns 20,104 shares of the company’s stock worth $1,354,000 after acquiring an additional 7,124 shares in the last quarter. 79.30% 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.

Analyst Recommendations for Cerner (NASDAQ:CERN)

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