Cerner Corporation (NASDAQ:CERN) has been assigned an average rating of “Hold” from the twenty-six brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $64.74.
Several analysts have weighed in on CERN shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $66.00 price objective on shares of Cerner Corporation in a research note on Wednesday, February 22nd. Citigroup Inc. cut shares of Cerner Corporation from a “buy” rating to a “neutral” rating in a research note on Friday, February 24th. They noted that the move was a valuation call. Stifel Nicolaus lifted their price objective on shares of Cerner Corporation from $56.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 22nd. Zacks Investment Research upgraded shares of Cerner Corporation from a “sell” rating to a “hold” rating in a research note on Monday, March 20th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $66.00 price objective on shares of Cerner Corporation in a research note on Friday, June 2nd.
Shares of Cerner Corporation (NASDAQ CERN) traded up 0.17% on Monday, hitting $66.04. 2,866,990 shares of the stock were exchanged. The company has a 50-day moving average price of $65.43 and a 200-day moving average price of $56.65. Cerner Corporation has a one year low of $47.01 and a one year high of $69.28. The firm has a market capitalization of $21.82 billion, a PE ratio of 34.04 and a beta of 0.97.
Cerner Corporation (NASDAQ:CERN) last announced its earnings results on Thursday, April 27th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. Cerner Corporation had a net margin of 13.40% and a return on equity of 18.36%. Cerner Corporation’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. Equities research analysts expect that Cerner Corporation will post $2.51 earnings per share for the current year.
In other Cerner Corporation news, VP Michael R. Battaglioli sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $65.55, for a total transaction of $262,200.00. Following the sale, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $262,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald E. Bisbee, Jr. sold 6,200 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $67.97, for a total transaction of $421,414.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 704,542 shares of company stock valued at $45,885,490. 13.20% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of CERN. Vanguard Group Inc. raised its stake in Cerner Corporation by 0.8% in the first quarter. Vanguard Group Inc. now owns 28,419,626 shares of the company’s stock worth $1,672,495,000 after buying an additional 231,565 shares during the last quarter. BlackRock Inc. raised its stake in Cerner Corporation by 3,008.5% in the first quarter. BlackRock Inc. now owns 18,298,722 shares of the company’s stock worth $1,076,881,000 after buying an additional 17,710,062 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Cerner Corporation by 29.9% in the first quarter. Bank of New York Mellon Corp now owns 14,745,663 shares of the company’s stock worth $867,783,000 after buying an additional 3,391,745 shares during the last quarter. State Street Corp raised its stake in Cerner Corporation by 1.8% in the first quarter. State Street Corp now owns 12,593,837 shares of the company’s stock worth $741,147,000 after buying an additional 228,570 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in Cerner Corporation by 4.5% in the fourth quarter. Loomis Sayles & Co. L P now owns 9,534,549 shares of the company’s stock worth $451,652,000 after buying an additional 411,998 shares during the last quarter. 82.80% of the stock is currently owned by hedge funds and other institutional investors.
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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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