Cerner (CERN) Lowered to “Hold” at SunTrust Banks
Cerner (NASDAQ:CERN) was downgraded by equities researchers at SunTrust Banks from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Marketbeat.com reports. The analysts noted that the move was a valuation call.
A number of other analysts also recently weighed in on the company. Zacks Investment Research upgraded Cerner from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Stifel Nicolaus reiterated a “hold” rating on shares of Cerner in a research report on Wednesday, November 22nd. JPMorgan Chase & Co. downgraded Cerner from an “overweight” rating to a “neutral” rating in a research report on Friday, October 27th. Piper Jaffray Companies reiterated a “buy” rating and set a $77.00 target price on shares of Cerner in a research report on Thursday, October 12th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Cerner in a report on Wednesday, October 25th. Sixteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Cerner presently has a consensus rating of “Hold” and an average price target of $69.83.
Cerner (NASDAQ CERN) traded down $0.34 during trading hours on Tuesday, hitting $70.28. The stock had a trading volume of 1,945,500 shares, compared to its average volume of 1,631,936. The company has a market cap of $23,150.00, a P/E ratio of 34.97, a price-to-earnings-growth ratio of 2.10 and a beta of 0.94. 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 1 year low of $50.33 and a 1 year high of $73.86.
Cerner (NASDAQ:CERN) last released its earnings results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Cerner had a net margin of 13.37% and a return on equity of 18.03%. The business’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 earnings per share. analysts expect that Cerner will post 2.24 EPS for the current fiscal year.
In other Cerner news, CEO Clifford W. Illig sold 140,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $65.52, for a total value of $9,172,800.00. Following the sale, the chief executive officer now owns 1,229,719 shares in the company, valued at approximately $80,571,188.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael R. Battaglioli sold 4,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $69.89, for a total value of $279,560.00. Following the completion of the sale, the vice president now owns 4,000 shares in the company, valued at approximately $279,560. The disclosure for this sale can be found here. In the last ninety days, insiders sold 788,000 shares of company stock valued at $52,190,800. Insiders own 13.11% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oakbrook Investments LLC bought a new stake in shares of Cerner in the 4th quarter valued at about $334,000. Cullinan Associates Inc. grew its position in shares of Cerner by 9.2% in the 4th quarter. Cullinan Associates Inc. now owns 83,555 shares of the company’s stock valued at $5,631,000 after buying an additional 7,060 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Cerner by 4.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,087,601 shares of the company’s stock valued at $73,294,000 after buying an additional 48,289 shares during the last quarter. Creative Planning grew its position in shares of Cerner by 0.5% in the 4th quarter. Creative Planning now owns 346,196 shares of the company’s stock valued at $23,330,000 after buying an additional 1,727 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of Cerner by 42.7% in the 4th quarter. Bank of Montreal Can now owns 209,232 shares of the company’s stock valued at $14,099,000 after buying an additional 62,558 shares during the last quarter. Hedge funds and other institutional investors own 81.83% of the company’s stock.
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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