A number of other research analysts also recently weighed in on CERN. William Blair reissued an outperform rating on shares of Cerner Corporation in a report on Monday, July 10th. BidaskClub downgraded Cerner Corporation from a buy rating to a hold rating in a report on Tuesday, July 25th. Stifel Nicolaus reissued a hold rating and issued a $69.00 target price on shares of Cerner Corporation in a report on Friday, July 28th. Zacks Investment Research downgraded Cerner Corporation from a buy rating to a hold rating in a report on Tuesday, August 1st. Finally, Morgan Stanley raised Cerner Corporation from an underweight rating to an equal weight rating and increased their target price for the company from $59.00 to $62.00 in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $69.30.
Cerner Corporation (NASDAQ:CERN) last posted its earnings results 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). Cerner Corporation had a net margin of 13.37% and a return on equity of 18.03%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the company posted $0.59 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year.
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In other news, COO Michael Nill sold 99,470 shares of Cerner Corporation stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $70.45, for a total value of $7,007,661.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Clifford W. Illig sold 118,113 shares of Cerner Corporation stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $62.03, for a total value of $7,326,549.39. Following the completion of the transaction, the chairman now owns 1,229,719 shares of the company’s stock, valued at approximately $76,279,469.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,583 shares of company stock valued at $24,758,191. Company insiders own 13.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC boosted its holdings in Cerner Corporation by 4.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after acquiring an additional 70 shares during the period. Acrospire Investment Management LLC boosted its holdings in Cerner Corporation by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock valued at $120,000 after acquiring an additional 900 shares during the period. Pacad Investment Ltd. purchased a new position in Cerner Corporation during the 2nd quarter valued at $130,000. Sun Life Financial INC boosted its holdings in Cerner Corporation by 23,700.0% during the 2nd quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock valued at $142,000 after acquiring an additional 2,133 shares during the period. Finally, Archford Capital Strategies LLC boosted its holdings in Cerner Corporation by 93.8% during the 1st quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock valued at $153,000 after acquiring an additional 1,258 shares during the period. Hedge funds and other institutional investors own 78.90% 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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