Cerner Corporation (CERN) Receives Consensus Rating of “Hold” from Brokerages
Cerner Corporation (NASDAQ:CERN) has received an average rating of “Hold” from the twenty-five ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $65.52.
CERN has been the subject of several recent analyst reports. Canaccord Genuity boosted their price objective on Cerner Corporation from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Cantor Fitzgerald reissued a “buy” rating and set a $77.00 price objective (up previously from $68.00) on shares of Cerner Corporation in a report on Monday, June 5th. Jefferies Group LLC reissued a “buy” rating and set a $74.00 price objective on shares of Cerner Corporation in a report on Thursday, June 1st. UBS AG boosted their price objective on Cerner Corporation from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, BidaskClub lowered Cerner Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th.
In related news, CFO Marc G. Naughton sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $68.63, for a total transaction of $4,117,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Linda M. Dillman sold 4,600 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $64.69, for a total value of $297,574.00. The disclosure for this sale can be found here. Insiders sold 588,992 shares of company stock valued at $38,493,385 in the last quarter. Corporate insiders own 13.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Forte Capital LLC ADV increased its position in shares of Cerner Corporation by 5.3% in the first quarter. Forte Capital LLC ADV now owns 68,288 shares of the company’s stock worth $4,019,000 after buying an additional 3,415 shares in the last quarter. Douglass Winthrop Advisors LLC increased its position in shares of Cerner Corporation by 9.7% in the first quarter. Douglass Winthrop Advisors LLC now owns 22,645 shares of the company’s stock worth $1,333,000 after buying an additional 2,000 shares in the last quarter. S&CO Inc. increased its position in shares of Cerner Corporation by 5.4% in the first quarter. S&CO Inc. now owns 50,641 shares of the company’s stock worth $2,980,000 after buying an additional 2,586 shares in the last quarter. Paradigm Financial Advisors LLC acquired a new position in shares of Cerner Corporation during the first quarter worth approximately $215,000. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Cerner Corporation by 0.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 254,362 shares of the company’s stock worth $14,969,000 after buying an additional 1,089 shares in the last quarter. Institutional investors own 81.78% of the company’s stock.
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Cerner Corporation (CERN) traded down 0.79% on Tuesday, hitting $63.08. 1,282,182 shares of the stock were exchanged. The firm has a market cap of $20.92 billion, a PE ratio of 31.86 and a beta of 0.95. Cerner Corporation has a 52-week low of $47.01 and a 52-week high of $69.28. The company has a 50-day moving average price of $65.92 and a 200-day moving average price of $60.63.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the firm posted $0.58 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Cerner Corporation will post $2.50 EPS for the current fiscal year.
Cerner Corporation announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 25th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Cerner Corporation 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.
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