Cerner (CERN) Downgraded by SunTrust Banks

Cerner (NASDAQ:CERN) was downgraded by equities research analysts at SunTrust Banks from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, The Fly reports. The analysts noted that the move was a valuation call.

Several other research firms have also recently issued reports on CERN. Cantor Fitzgerald reiterated a “buy” rating and issued a $77.00 price objective on shares of Cerner in a research report on Tuesday, October 10th. Zacks Investment Research lowered Cerner from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. KeyCorp reissued a “buy” rating and issued a $76.00 target price on shares of Cerner in a report on Friday, September 22nd. Robert W. Baird raised Cerner from a “neutral” rating to an “outperform” rating and upped their target price for the company from $67.00 to $76.00 in a report on Tuesday, October 31st. Finally, Royal Bank of Canada lowered Cerner from a “top pick” rating to an “outperform” rating and lowered their target price for the company from $84.00 to $74.00 in a report on Thursday, November 2nd. Fifteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Cerner has a consensus rating of “Hold” and an average target price of $69.83.

Cerner (NASDAQ CERN) opened at $72.90 on Tuesday. The stock has a market capitalization of $24,230.00, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 2.17 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75. Cerner has a 52-week low of $50.33 and a 52-week high of $73.86.

Cerner (NASDAQ:CERN) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Cerner had a return on equity of 18.03% and a net margin of 13.37%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. equities analysts expect that Cerner will post 2.24 EPS for the current fiscal year.

In related news, Chairman Clifford W. Illig sold 530,000 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $65.54, for a total transaction of $34,736,200.00. Following the transaction, the chairman now directly owns 1,229,719 shares in the company, valued at $80,595,783.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Zane M. Burke sold 50,000 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $70.00, for a total value of $3,500,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 788,000 shares of company stock worth $52,190,800. Corporate insiders own 13.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atria Investments LLC lifted its position in Cerner by 13.1% during the fourth quarter. Atria Investments LLC now owns 12,132 shares of the company’s stock worth $818,000 after buying an additional 1,407 shares during the period. Nisa Investment Advisors LLC lifted its position in Cerner by 4.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 95,102 shares of the company’s stock worth $6,409,000 after buying an additional 3,980 shares during the period. Acropolis Investment Management LLC lifted its position in Cerner by 91.6% during the fourth quarter. Acropolis Investment Management LLC now owns 8,134 shares of the company’s stock worth $548,000 after buying an additional 3,889 shares during the period. Leavell Investment Management Inc. lifted its position in Cerner by 3.1% during the fourth quarter. Leavell Investment Management Inc. now owns 22,785 shares of the company’s stock worth $1,535,000 after buying an additional 693 shares during the period. Finally, LGT Capital Partners LTD. lifted its position in Cerner by 2.4% during the fourth quarter. LGT Capital Partners LTD. now owns 169,500 shares of the company’s stock worth $11,423,000 after buying an additional 3,900 shares during the period. Hedge funds and other institutional investors own 81.83% of the company’s stock.

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About Cerner

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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