Bank of America Corp. initiated coverage on shares of Cerner Corp. (NASDAQ:CERN) in a report issued on Monday. The firm issued a neutral rating and a $67.00 price objective on the stock.

Several other research analysts have also recently weighed in on CERN. KeyCorp reiterated a buy rating on shares of Cerner Corp. in a research report on Sunday, May 22nd. Citigroup Inc. increased their price objective on Cerner Corp. from $65.00 to $73.00 and gave the stock a buy rating in a research report on Wednesday, August 3rd. FBR & Co reiterated an outperform rating and set a $73.00 price objective on shares of Cerner Corp. in a research report on Friday, June 3rd. JPMorgan Chase & Co. reiterated a buy rating on shares of Cerner Corp. in a research report on Wednesday, August 3rd. Finally, Deutsche Bank AG lowered their price objective on Cerner Corp. from $67.00 to $66.00 and set a buy rating on the stock in a research report on Wednesday, August 3rd. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $66.18.

Shares of Cerner Corp. (NASDAQ:CERN) opened at 62.98 on Monday. The company’s 50 day moving average is $64.56 and its 200 day moving average is $58.45. Cerner Corp. has a 12-month low of $49.59 and a 12-month high of $68.31. The firm has a market capitalization of $21.27 billion, a PE ratio of 34.59 and a beta of 0.66.

Cerner Corp. (NASDAQ:CERN) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. Cerner Corp. had a return on equity of 18.57% and a net margin of 13.53%. The business earned $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm posted $0.52 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts forecast that Cerner Corp. will post $2.36 earnings per share for the current year.

In other Cerner Corp. news, VP Michael R. Battaglioli sold 2,000 shares of Cerner Corp. stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $67.34, for a total value of $134,680.00. Following the completion of the sale, the vice president now directly owns 2,000 shares in the company, valued at $134,680. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Neal L. Patterson sold 428,638 shares of Cerner Corp. stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $67.14, for a total value of $28,778,755.32. The disclosure for this sale can be found here. 13.20% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the company. Williams Jones & Associates LLC increased its stake in Cerner Corp. by 17.8% in the second quarter. Williams Jones & Associates LLC now owns 18,347 shares of the company’s stock valued at $1,075,000 after buying an additional 2,767 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Cerner Corp. during the second quarter valued at approximately $712,000. Kentucky Retirement Systems purchased a new stake in Cerner Corp. during the second quarter valued at approximately $1,499,000. Mason Street Advisors LLC purchased a new stake in Cerner Corp. during the second quarter valued at approximately $2,375,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Cerner Corp. by 10.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,379 shares of the company’s stock valued at $373,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 81.39% of the company’s stock.

About Cerner Corp.

Cerner Corporation 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. Its segments include Domestic and Global. The Domestic segment includes the business activity in the United States.

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