Cerner Co. (NASDAQ:CERN) – Investment analysts at SunTrust Banks boosted their FY2017 EPS estimates for shares of Cerner in a research note issued on Tuesday. SunTrust Banks analyst S. Draper now expects that the company will earn $2.25 per share for the year, up from their previous forecast of $2.23. SunTrust Banks currently has a “Buy” rating and a $75.00 target price on the stock. SunTrust Banks also issued estimates for Cerner’s Q4 2017 earnings at $0.58 EPS, FY2018 earnings at $2.47 EPS and FY2019 earnings at $2.76 EPS.
Several other analysts also recently weighed in on CERN. BidaskClub downgraded Cerner from a “buy” rating to a “hold” rating in a research report on Friday. Piper Jaffray Companies reiterated a “buy” rating and issued a $70.00 target price on shares of Cerner in a research report on Thursday, November 30th. Jefferies Group reiterated a “buy” rating on shares of Cerner in a research report on Sunday, October 29th. Zacks Investment Research downgraded Cerner from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Finally, Royal Bank of Canada started coverage on Cerner in a research report on Tuesday, September 19th. They issued a “top pick” rating and a $84.00 target price for the company. 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 stock. The company currently has an average rating of “Hold” and a consensus target price of $69.50.
Cerner (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 had a return on equity of 18.03% and a net margin of 13.37%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of the business. Advisory Services Network LLC raised its position in Cerner 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 purchasing an additional 70 shares during the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Cerner by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after acquiring an additional 900 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Cerner during the 3rd quarter worth approximately $121,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Cerner during the 3rd quarter worth approximately $128,000. Finally, Pacad Investment Ltd. purchased a new position in shares of Cerner during the 2nd quarter worth approximately $130,000. 81.82% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Marc G. Naughton sold 60,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $70.64, for a total transaction of $4,238,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Clifford W. Illig sold 530,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $65.54, for a total value of $34,736,200.00. Following the transaction, the chairman now owns 1,229,719 shares of the company’s stock, valued at $80,595,783.26. The disclosure for this sale can be found here. Insiders have sold 788,000 shares of company stock worth $52,190,800 over the last quarter. 13.11% of the stock is currently owned by corporate insiders.
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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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