Cerner (NASDAQ:CERN) Rating Reiterated by KeyCorp

KeyCorp reaffirmed their overweight rating on shares of Cerner (NASDAQ:CERN) in a report released on Friday morning, 24/7 WallStreet reports. They currently have a $82.00 price objective on the stock, up from their prior price objective of $76.00.

Several other research firms have also commented on CERN. Cantor Fitzgerald boosted their price objective on shares of Cerner from $75.00 to $85.00 and gave the stock an overweight rating in a research report on Monday, July 8th. BidaskClub lowered shares of Cerner from a hold rating to a sell rating in a research report on Thursday, July 25th. ValuEngine upgraded shares of Cerner from a hold rating to a buy rating in a research report on Wednesday, May 1st. Canaccord Genuity boosted their price objective on shares of Cerner from $77.00 to $80.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Finally, Citigroup boosted their price objective on shares of Cerner from $77.00 to $84.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. Cerner presently has an average rating of Buy and an average price target of $73.79.

Cerner stock opened at $71.83 on Friday. Cerner has a 52 week low of $48.78 and a 52 week high of $76.47. The company has a quick ratio of 2.50, a current ratio of 2.52 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $72.84 and its 200 day simple moving average is $65.65. The firm has a market capitalization of $22.87 billion, a PE ratio of 32.50, a P/E/G ratio of 1.98 and a beta of 0.92.

Cerner (NASDAQ:CERN) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. Cerner had a net margin of 10.75% and a return on equity of 15.14%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the firm earned $0.62 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, research analysts expect that Cerner will post 2.43 EPS for the current fiscal year.

The company also recently announced a special dividend, which was paid on Friday, July 26th. Shareholders of record on Tuesday, June 18th were issued a $0.18 dividend. The ex-dividend date was Monday, June 17th. Cerner’s dividend payout ratio (DPR) is 32.58%.

In other Cerner news, EVP Randy D. Sims sold 40,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $72.45, for a total value of $2,898,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William D. Zollars sold 1,400 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $72.11, for a total transaction of $100,954.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 289,500 shares of company stock worth $20,225,008. 0.75% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC lifted its holdings in shares of Cerner by 6.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 732,099 shares of the company’s stock worth $41,883,000 after acquiring an additional 41,265 shares during the period. Creative Planning lifted its holdings in shares of Cerner by 2.1% during the 1st quarter. Creative Planning now owns 344,682 shares of the company’s stock worth $19,719,000 after acquiring an additional 6,968 shares during the period. Hartford Investment Management Co. lifted its holdings in shares of Cerner by 0.3% during the 2nd quarter. Hartford Investment Management Co. now owns 104,219 shares of the company’s stock worth $7,639,000 after acquiring an additional 313 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Cerner by 54.0% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 501,092 shares of the company’s stock worth $28,667,000 after acquiring an additional 175,676 shares during the period. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of Cerner by 6,480.6% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 8,160 shares of the company’s stock worth $598,000 after acquiring an additional 8,036 shares during the period. Institutional investors and hedge funds own 81.87% of the company’s stock.

About Cerner

Cerner Corporation provides health care information technology solutions and tech-enabled 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.

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Analyst Recommendations for Cerner (NASDAQ:CERN)

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