Cerner (CERN) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of Cerner (NASDAQ:CERN) from a hold rating to a sell rating in a report released on Wednesday.

Several other research analysts also recently commented on the company. Evercore ISI began coverage on Cerner in a research note on Thursday, January 18th. They issued an in-line rating and a $77.00 price objective for the company. Zacks Investment Research downgraded Cerner from a buy rating to a hold rating in a research note on Tuesday, January 16th. SunTrust Banks downgraded Cerner from a buy rating to a hold rating in a research note on Tuesday, January 16th. They noted that the move was a valuation call. Cantor Fitzgerald raised their target price on Cerner to $83.00 and gave the stock an overweight rating in a research note on Friday, January 5th. Finally, Citigroup started coverage on Cerner in a research note on Thursday, January 4th. They issued a neutral rating for the company. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $70.21.

Cerner (CERN) opened at $67.70 on Wednesday. Cerner has a 52 week low of $51.26 and a 52 week high of $73.86. The company has a quick ratio of 2.75, a current ratio of 2.77 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $22,999.79, a price-to-earnings ratio of 33.68, a P/E/G ratio of 2.06 and a beta of 0.94.

Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). Cerner had a net margin of 13.37% and a return on equity of 18.03%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the company posted $0.59 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. equities analysts predict that Cerner will post 2.24 earnings per share for the current year.

In other news, Chairman Clifford W. Illig sold 530,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $65.54, for a total transaction of $34,736,200.00. Following the completion of the transaction, the chairman now directly owns 1,229,719 shares in the company, valued at approximately $80,595,783.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael R. Battaglioli sold 4,000 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $69.89, for a total value of $279,560.00. Following the transaction, the vice president now owns 4,000 shares of the company’s stock, valued at $279,560. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 788,000 shares of company stock valued at $52,190,800. Company insiders own 13.11% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. APG Asset Management N.V. boosted its holdings in Cerner by 153.1% during the 4th quarter. APG Asset Management N.V. now owns 1,121,956 shares of the company’s stock valued at $62,965,000 after acquiring an additional 678,700 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Cerner during the 2nd quarter valued at about $44,524,000. Sawgrass Asset Management LLC purchased a new position in Cerner during the 3rd quarter valued at about $39,946,000. Koch Industries Inc. purchased a new position in Cerner during the 2nd quarter valued at about $310,000. Finally, Commonwealth Bank of Australia boosted its holdings in Cerner by 1,362.5% during the 3rd quarter. Commonwealth Bank of Australia now owns 261,011 shares of the company’s stock valued at $18,389,000 after acquiring an additional 243,164 shares during the period. Institutional investors and hedge funds own 81.85% of the company’s stock.

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About Cerner

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.

Analyst Recommendations for Cerner (NASDAQ:CERN)

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