Royal Bank Of Canada lowered shares of Cerner Corporation (NASDAQ:CERN) from a top pick rating to an outperform rating in a report issued on Thursday, November 2nd, Marketbeat reports. Royal Bank Of Canada currently has $74.00 price objective on the stock, down from their prior price objective of $84.00.
A number of other analysts have also weighed in on CERN. Robert W. Baird reissued a hold rating and set a $67.00 price objective on shares of Cerner Corporation in a research note on Thursday, August 31st. Cantor Fitzgerald reaffirmed a buy rating and set a $77.00 price objective on shares of Cerner Corporation in a research report on Tuesday, October 10th. J P Morgan Chase & Co cut Cerner Corporation from an overweight rating to a neutral rating in a research report on Friday, October 27th. Zacks Investment Research cut Cerner Corporation from a buy rating to a sell rating in a research report on Tuesday, October 31st. Finally, SunTrust Banks, Inc. restated a buy rating and set a $79.00 price objective on shares of Cerner Corporation in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $70.00.
Cerner Corporation (CERN) traded up $0.95 on Thursday, hitting $66.68. 1,802,710 shares of the stock were exchanged, compared to its average volume of 2,355,216. The firm has a market cap of $22,170.00, a P/E ratio of 28.94, a P/E/G ratio of 2.10 and a beta of 0.93. 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 one year low of $47.01 and a one year high of $73.86.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 return on equity of 18.03% and a net margin of 13.37%. Cerner Corporation’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. equities analysts predict that Cerner Corporation will post 2.26 earnings per share for the current fiscal year.
In other Cerner Corporation news, SVP Randy D. Sims sold 60,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $68.03, for a total value of $4,081,800.00. Following the completion of the transaction, the senior vice president now directly owns 60,890 shares of the company’s stock, valued at $4,142,346.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Clifford W. Illig sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $65.96, for a total transaction of $263,840.00. Following the sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at $81,112,265.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 927,470 shares of company stock worth $61,604,482. Insiders own 13.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Archford Capital Strategies LLC grew its stake in Cerner Corporation by 1,286.0% during the third quarter. Archford Capital Strategies LLC now owns 2,980 shares of the company’s stock worth $213,000 after buying an additional 2,765 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in shares of Cerner Corporation in the 3rd quarter valued at approximately $221,000. IFM Investors Pty Ltd acquired a new stake in shares of Cerner Corporation in the 3rd quarter valued at approximately $629,000. Fieldpoint Private Securities LLC acquired a new stake in shares of Cerner Corporation in the 3rd quarter valued at approximately $559,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Cerner Corporation by 7.4% in the 3rd quarter. Sterling Capital Management LLC now owns 754,800 shares of the company’s stock valued at $53,832,000 after purchasing an additional 52,247 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.
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.
Receive News & Ratings for Cerner Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerner Corporation and related companies with our FREE daily email newsletter.