Royal Bank Of Canada assumed coverage on shares of Cerner Corporation (NASDAQ:CERN) in a research report released on Tuesday, Marketbeat reports. The firm issued a top pick rating and a $84.00 target price on the stock.
Several other research firms also recently commented on CERN. Robert W. Baird restated a hold rating and set a $67.00 target price on shares of Cerner Corporation in a research report on Thursday, August 31st. Zacks Investment Research downgraded Cerner Corporation from a buy rating to a hold rating in a research report on Tuesday, August 1st. Jefferies Group LLC restated a buy rating and set a $74.00 target price on shares of Cerner Corporation in a research report on Thursday, June 1st. Canaccord Genuity restated a buy rating and set a $69.00 target price on shares of Cerner Corporation in a research report on Wednesday, September 6th. Finally, BidaskClub downgraded Cerner Corporation from a hold rating to a sell rating in a research report on Tuesday, August 1st. Fifteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $67.11.
Cerner Corporation (NASDAQ:CERN) opened at 69.63 on Tuesday. The company’s 50-day moving average price is $66.04 and its 200-day moving average price is $63.61. Cerner Corporation has a 52 week low of $47.01 and a 52 week high of $72.27. The company has a market capitalization of $23.09 billion, a P/E ratio of 35.18 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last posted its earnings results on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.01). The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.30 billion. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. Cerner Corporation’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 EPS. On average, equities analysts forecast that Cerner Corporation will post $2.50 EPS for the current fiscal year.
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In other news, COO Michael Nill sold 99,470 shares of Cerner Corporation stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total value of $7,007,661.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Clifford W. Illig sold 118,113 shares of Cerner Corporation stock in a transaction on Friday, August 11th. The shares were sold at an average price of $62.03, for a total value of $7,326,549.39. Following the completion of the sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at $76,279,469.57. The disclosure for this sale can be found here. Insiders sold a total of 371,583 shares of company stock valued at $24,758,191 over the last three months. Insiders own 13.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CERN. Waldron LP acquired a new stake in shares of Cerner Corporation in the 1st quarter valued at $339,000. UBS Asset Management Americas Inc. increased its stake in shares of Cerner Corporation by 9.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 793,146 shares of the company’s stock valued at $46,677,000 after buying an additional 70,424 shares during the period. Sei Investments Co. increased its stake in shares of Cerner Corporation by 23.1% in the 1st quarter. Sei Investments Co. now owns 16,610 shares of the company’s stock valued at $977,000 after buying an additional 3,121 shares during the period. Toronto Dominion Bank increased its stake in shares of Cerner Corporation by 54.8% in the 1st quarter. Toronto Dominion Bank now owns 82,127 shares of the company’s stock valued at $4,834,000 after buying an additional 29,068 shares during the period. Finally, Warren Averett Asset Management LLC acquired a new stake in shares of Cerner Corporation in the 1st quarter valued at $211,000. 78.92% of the stock is owned by institutional investors.
About Cerner Corporation
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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