Cantor Fitzgerald Raises Cerner (NASDAQ:CERN) Price Target to $85.00

Cerner (NASDAQ:CERN) had its price target lifted by Cantor Fitzgerald from $75.00 to $85.00 in a report published on Monday, BenzingaRatingsTable reports. Cantor Fitzgerald currently has an overweight rating on the stock. Cantor Fitzgerald also issued estimates for Cerner’s FY2020 earnings at $2.82 EPS.

CERN has been the topic of a number of other research reports. Bank of America restated an underperform rating and issued a GBX 55 ($0.72) price target on shares of Lloyds Banking Group in a research report on Tuesday, May 21st. BidaskClub cut Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. SunTrust Banks decreased their target price on CVS Health from $85.00 to $65.00 in a research report on Wednesday, April 10th. Zacks Investment Research cut Wix.Com from a hold rating to a sell rating in a research report on Monday, April 8th. Finally, Robert W. Baird lifted their target price on Cerner from $67.00 to $71.00 and gave the company an outperform rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. Cerner presently has an average rating of Buy and a consensus target price of $70.00.

Shares of NASDAQ CERN opened at $76.15 on Monday. The company has a quick ratio of 2.55, a current ratio of 2.58 and a debt-to-equity ratio of 0.09. Cerner has a 52 week low of $48.78 and a 52 week high of $76.20. The company has a market capitalization of $24.63 billion, a PE ratio of 34.46, a P/E/G ratio of 2.31 and a beta of 0.89. The stock has a fifty day moving average of $72.20.

Cerner (NASDAQ:CERN) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.06. Cerner had a return on equity of 14.86% and a net margin of 11.65%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the business earned $0.58 earnings per share. Cerner’s revenue was up 7.5% on a year-over-year basis. Research analysts anticipate that Cerner will post 2.44 earnings per share for the current year.

The company also recently declared a special dividend, which will be paid on Friday, July 26th. Stockholders of record on Tuesday, June 18th will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, June 17th. Cerner’s payout ratio is 32.58%.

In related news, EVP Randy D. Sims sold 40,000 shares of Cerner stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $72.45, for a total value of $2,898,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John J. Greisch acquired 9,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $67.57 per share, for a total transaction of $608,130.00. The disclosure for this purchase can be found here. Insiders have sold 441,468 shares of company stock worth $30,777,997 over the last three months. Insiders own 4.71% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Advisory Alpha LLC acquired a new position in shares of Cerner in the first quarter worth approximately $28,000. Nelson Roberts Investment Advisors LLC bought a new stake in Cerner in the first quarter worth approximately $25,000. Moody National Bank Trust Division increased its holdings in Cerner by 72.5% in the first quarter. Moody National Bank Trust Division now owns 483 shares of the company’s stock worth $28,000 after purchasing an additional 203 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in Cerner in the second quarter worth approximately $49,000. Finally, Creative Financial Designs Inc. ADV increased its holdings in Cerner by 303.4% in the first quarter. Creative Financial Designs Inc. ADV now owns 710 shares of the company’s stock worth $41,000 after purchasing an additional 534 shares in the last quarter. 81.64% of the stock is currently owned by institutional investors.

Cerner Company Profile

Cerner Corporation provides health care information technology solutions and tech-enabled services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.

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