Royal Bank Of Canada cut shares of Cerner Corporation (NASDAQ:CERN) from a top pick rating to an outperform rating in a research report report published on Thursday, November 2nd, MarketBeat Ratings reports. Royal Bank Of Canada currently has $74.00 target price on the stock, down from their previous target price of $84.00.
Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Cerner Corporation from a buy rating to a sell rating in a research note on Tuesday, October 31st. Robert W. Baird upgraded shares of Cerner Corporation from a neutral rating to an outperform rating and raised their target price for the stock from $67.00 to $76.00 in a report on Tuesday, October 31st. SunTrust Banks, Inc. restated a buy rating and issued a $75.00 target price on shares of Cerner Corporation in a report on Monday, October 30th. Jefferies Group LLC restated a buy rating on shares of Cerner Corporation in a report on Sunday, October 29th. Finally, J P Morgan Chase & Co cut shares of Cerner Corporation from an overweight rating to a neutral rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company’s stock. Cerner Corporation currently has an average rating of Hold and a consensus target price of $69.79.
Cerner Corporation (CERN) opened at $65.07 on Thursday. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11. Cerner Corporation has a 1 year low of $47.01 and a 1 year high of $73.86. The firm has a market cap of $21,630.00, a PE ratio of 28.97, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93.
Cerner Corporation (NASDAQ:CERN) last announced its earnings results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Cerner Corporation had a net margin of 13.37% and a return on equity of 18.03%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. sell-side analysts expect that Cerner Corporation will post 2.26 EPS for the current fiscal year.
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In other Cerner Corporation news, COO Michael Nill sold 99,470 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total value of $7,007,661.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Clifford W. Illig sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $65.96, for a total value of $263,840.00. Following the completion of the sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at approximately $81,112,265.24. The disclosure for this sale can be found here. Insiders have sold a total of 257,470 shares of company stock worth $17,695,482 over the last ninety days. Insiders own 13.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. ETF Managers Group LLC purchased a new position in shares of Cerner Corporation in the second quarter worth about $157,000. Advisory Services Network LLC raised its stake in shares of Cerner Corporation 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 last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Cerner Corporation in the third quarter worth about $121,000. Acrospire Investment Management LLC raised its stake in shares of Cerner Corporation 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 last quarter. Finally, Pacad Investment Ltd. purchased a new position in shares of Cerner Corporation in the second quarter worth about $130,000. 78.26% of the stock is owned by institutional investors and hedge funds.
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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