Cerner Corporation (CERN) Raised to “Outperform” at Robert W. Baird

Robert W. Baird upgraded shares of Cerner Corporation (NASDAQ:CERN) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday, MarketBeat reports. Robert W. Baird currently has $76.00 target price on the stock, up from their previous target price of $67.00.

Other research analysts have also recently issued research reports about the company. Morgan Stanley upgraded Cerner Corporation from an underweight rating to an equal weight rating and lifted their target price for the company from $59.00 to $62.00 in a report on Thursday, August 10th. SunTrust Banks, Inc. reiterated a buy rating and issued a $75.00 target price on shares of Cerner Corporation in a report on Monday. BidaskClub cut Cerner Corporation from a buy rating to a hold rating in a report on Tuesday, July 25th. Jefferies Group LLC set a $79.00 target price on Cerner Corporation and gave the company a buy rating in a report on Friday, October 13th. Finally, Royal Bank Of Canada began coverage on Cerner Corporation in a report on Tuesday, September 19th. They issued a top pick rating and a $84.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company. Cerner Corporation has a consensus rating of Hold and a consensus price target of $68.80.

Shares of Cerner Corporation (NASDAQ CERN) traded down $2.05 during trading on Tuesday, reaching $65.47. The company had a trading volume of 2,643,478 shares, compared to its average volume of 2,561,941. The stock has a market cap of $21.76 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 2.11 and a beta of 0.93. The company has a quick ratio of 2.75, a current ratio of 2.77 and a debt-to-equity ratio of 0.11.

Cerner Corporation (NASDAQ:CERN) last issued its earnings results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $1.29 billion. During the same quarter in the previous year, the business posted $0.59 EPS. Cerner Corporation’s revenue was up 7.7% compared to the same quarter last year. equities research analysts anticipate that Cerner Corporation will post 2.26 EPS for the current fiscal year.

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In related news, Chairman Clifford W. Illig sold 118,113 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at $76,279,469.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Michael Nill sold 99,470 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total value of $7,007,661.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,583 shares of company stock worth $24,758,191. Insiders own 13.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CERN. Waldron LP bought a new stake in Cerner Corporation in the first quarter valued at about $339,000. Thrivent Financial For Lutherans increased its holdings in Cerner Corporation by 2.8% in the first quarter. Thrivent Financial For Lutherans now owns 10,780 shares of the company’s stock valued at $634,000 after buying an additional 290 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Cerner Corporation by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 649,388 shares of the company’s stock valued at $38,217,000 after buying an additional 9,659 shares during the last quarter. Bfsg LLC bought a new stake in Cerner Corporation in the first quarter valued at about $1,448,000. Finally, Point72 Asset Management L.P. bought a new stake in Cerner Corporation in the first quarter valued at about $729,000. 78.90% of the stock is owned by hedge funds and other institutional investors.

Cerner Corporation Company Profile

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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