BidaskClub Lowers Cerner (CERN) to Hold

BidaskClub lowered shares of Cerner (NASDAQ:CERN) from a buy rating to a hold rating in a report released on Friday morning.

A number of other equities research analysts also recently commented on CERN. Robert W. Baird reiterated a hold rating and set a $67.00 price target on shares of Cerner in a report on Thursday, August 31st. Canaccord Genuity reiterated a buy rating and set a $69.00 price target on shares of Cerner in a report on Wednesday, September 6th. Royal Bank of Canada started coverage on shares of Cerner in a report on Tuesday, September 19th. They issued a top pick rating and a $84.00 target price for the company. KeyCorp restated a buy rating and issued a $76.00 target price on shares of Cerner in a report on Friday, September 22nd. Finally, Zacks Investment Research downgraded shares of Cerner from a hold rating to a sell rating in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $69.50.

Cerner (CERN) opened at $67.38 on Friday. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11. Cerner has a twelve month low of $47.09 and a twelve month high of $73.86. The firm has a market cap of $22,230.00, a PE ratio of 33.52, a price-to-earnings-growth ratio of 2.20 and a beta of 0.94.

Cerner (NASDAQ:CERN) last posted its earnings results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). Cerner had a net margin of 13.90% and a return on equity of 15.96%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the business posted $0.59 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. equities research analysts anticipate that Cerner will post 2.24 earnings per share for the current fiscal year.

In related news, President Zane M. Burke sold 50,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $70.00, for a total value of $3,500,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Clifford W. Illig sold 4,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $65.96, for a total transaction of $263,840.00. Following the completion of the sale, the chairman now directly owns 1,229,719 shares in the company, valued at $81,112,265.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 788,000 shares of company stock worth $52,190,800. 13.11% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Andra AP fonden grew its position in shares of Cerner by 45.8% during the second quarter. Andra AP fonden now owns 30,900 shares of the company’s stock worth $2,054,000 after acquiring an additional 9,700 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Cerner by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 697,200 shares of the company’s stock worth $46,342,000 after acquiring an additional 47,812 shares during the last quarter. State Farm Mutual Automobile Insurance Co. grew its position in shares of Cerner by 381.0% during the second quarter. State Farm Mutual Automobile Insurance Co. now owns 429,846 shares of the company’s stock worth $28,572,000 after acquiring an additional 340,486 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Cerner by 2.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 937,175 shares of the company’s stock worth $62,295,000 after acquiring an additional 23,659 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Cerner by 16.1% in the second quarter. Victory Capital Management Inc. now owns 31,298 shares of the company’s stock worth $2,080,000 after purchasing an additional 4,340 shares during the period. Hedge funds and other institutional investors own 81.82% of the company’s stock.

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Cerner 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.

Analyst Recommendations for Cerner (NASDAQ:CERN)

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