J P Morgan Chase & Co Downgrades Cerner Corporation (CERN) to Neutral

Cerner Corporation (NASDAQ:CERN) was downgraded by J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a report released on Friday.

Other equities analysts have also issued research reports about the company. Morgan Stanley raised Cerner Corporation from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $59.00 to $62.00 in a research note on Thursday, August 10th. BidaskClub lowered Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Jefferies Group LLC set a $79.00 price objective on Cerner Corporation and gave the stock a “buy” rating in a research note on Friday, October 13th. Royal Bank Of Canada assumed coverage on Cerner Corporation in a research note on Tuesday, September 19th. They issued a “top pick” rating and a $84.00 price objective for the company. Finally, Zacks Investment Research lowered Cerner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Fifteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $69.05.

Cerner Corporation (NASDAQ CERN) traded down 8.43% during midday trading on Friday, reaching $65.31. The company had a trading volume of 7,823,697 shares. The company has a 50-day moving average of $71.12 and a 200-day moving average of $66.32. The stock has a market capitalization of $21.66 billion, a PE ratio of 33.00 and a beta of 0.95. Cerner Corporation has a 12-month low of $47.01 and a 12-month high of $73.86.

Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings data 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 business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Cerner Corporation had a return on equity of 18.50% and a net margin of 13.37%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $0.59 EPS. On average, analysts predict that Cerner Corporation will post $2.50 EPS for the current fiscal year.

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In other Cerner Corporation news, COO Michael Nill sold 99,470 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total transaction of $7,007,661.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Randy D. Sims sold 60,000 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 60,890 shares in the company, valued at $4,142,346.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 371,583 shares of company stock worth $24,758,191. Company insiders own 13.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of CERN. Advisory Services Network LLC raised its position in Cerner Corporation by 4.4% during the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after purchasing an additional 70 shares during the period. Acrospire Investment Management LLC raised its holdings 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 buying an additional 900 shares during the period. Pacad Investment Ltd. purchased a new stake in shares of Cerner Corporation in the second quarter worth approximately $130,000. Sun Life Financial INC raised its holdings in shares of Cerner Corporation by 23,700.0% in the second quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock worth $142,000 after buying an additional 2,133 shares during the period. Finally, Archford Capital Strategies LLC raised its holdings in shares of Cerner Corporation by 93.8% in the first quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock worth $153,000 after buying an additional 1,258 shares during the period. Institutional investors and hedge funds own 78.98% 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.

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