Cerner (NASDAQ:CERN) Earns “Buy” Rating from Royal Bank of Canada

Cerner (NASDAQ:CERN)‘s stock had its “buy” rating restated by equities researchers at Royal Bank of Canada in a research note issued on Thursday, AnalystRatings.com reports. They currently have a $80.00 price objective on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 15.19% from the stock’s previous close.

A number of other research firms have also recently commented on CERN. BidaskClub upgraded Cerner from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Barclays cut their price target on Cerner from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Stephens started coverage on shares of Cerner in a research note on Monday, July 6th. They issued an “equal weight” rating and a $75.00 price objective on the stock. SVB Leerink began coverage on shares of Cerner in a report on Monday, April 13th. They issued an “outperform” rating and a $78.00 price objective on the stock. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Cerner in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $78.08.

Shares of NASDAQ CERN opened at $69.45 on Thursday. The firm’s 50-day moving average price is $70.10 and its 200-day moving average price is $70.00. The company has a quick ratio of 1.90, a current ratio of 2.04 and a debt-to-equity ratio of 0.33. The company has a market cap of $21.14 billion, a PE ratio of 41.84, a PEG ratio of 2.23 and a beta of 0.87. Cerner has a 52-week low of $53.08 and a 52-week high of $80.90.

Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Cerner had a net margin of 9.23% and a return on equity of 18.19%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Cerner will post 2.5 EPS for the current fiscal year.

In other Cerner news, CEO David Brent Shafer sold 34,912 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $71.35, for a total transaction of $2,490,971.20. Following the completion of the transaction, the chief executive officer now owns 34,912 shares in the company, valued at approximately $2,490,971.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Peterzalek sold 53,177 shares of Cerner stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $70.89, for a total value of $3,769,717.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,875 shares of company stock worth $9,146,690. Corporate insiders own 0.33% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank lifted its holdings in Cerner by 48.3% in the 2nd quarter. Comerica Bank now owns 87,979 shares of the company’s stock valued at $6,340,000 after purchasing an additional 28,641 shares in the last quarter. Prudential PLC grew its stake in Cerner by 15.1% during the 2nd quarter. Prudential PLC now owns 18,215 shares of the company’s stock valued at $1,249,000 after acquiring an additional 2,393 shares in the last quarter. Moloney Securities Asset Management LLC raised its holdings in Cerner by 164.6% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 9,425 shares of the company’s stock valued at $646,000 after acquiring an additional 5,863 shares during the last quarter. Flagship Harbor Advisors LLC lifted its stake in Cerner by 151.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 425 shares of the company’s stock worth $29,000 after purchasing an additional 256 shares in the last quarter. Finally, UBS Group AG boosted its holdings in shares of Cerner by 7.3% during the 2nd quarter. UBS Group AG now owns 403,177 shares of the company’s stock worth $27,638,000 after purchasing an additional 27,417 shares during the last quarter. 82.72% of the stock is currently owned by institutional investors.

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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