Cerner’s (CERN) Buy Rating Reiterated at Royal Bank of Canada
Royal Bank of Canada restated their buy rating on shares of Cerner (NASDAQ:CERN) in a research note released on Wednesday morning. Royal Bank of Canada currently has a $76.00 price target on the stock.
CERN has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Cerner from a buy rating to a hold rating in a research report on Thursday, January 4th. Cantor Fitzgerald increased their price objective on shares of Cerner to $83.00 and gave the stock an overweight rating in a report on Friday, January 5th. BidaskClub cut shares of Cerner from a buy rating to a hold rating in a report on Friday, December 22nd. Stifel Nicolaus reaffirmed a hold rating on shares of Cerner in a report on Wednesday, November 22nd. Finally, JPMorgan Chase & Co. cut shares of Cerner from an overweight rating to a neutral rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. Cerner currently has a consensus rating of Hold and an average price target of $65.89.
Cerner (NASDAQ:CERN) opened at $61.31 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.01 and a quick ratio of 2.75. Cerner has a 52-week low of $51.26 and a 52-week high of $73.86. The stock has a market cap of $20,350.44, a PE ratio of 23.86, a PEG ratio of 1.80 and a beta of 0.90.
In other Cerner news, CFO Marc G. Naughton sold 60,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $70.64, for a total transaction of $4,238,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Clifford W. Illig sold 140,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $65.52, for a total transaction of $9,172,800.00. Following the transaction, the chief executive officer now directly owns 1,229,719 shares in the company, valued at approximately $80,571,188.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 784,000 shares of company stock worth $51,926,960. 13.11% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Baird Financial Group Inc. increased its stake in Cerner by 38.2% during the 4th quarter. Baird Financial Group Inc. now owns 14,715 shares of the company’s stock valued at $992,000 after buying an additional 4,064 shares during the period. Norinchukin Bank The increased its stake in Cerner by 7.7% during the 4th quarter. Norinchukin Bank The now owns 25,249 shares of the company’s stock valued at $1,702,000 after buying an additional 1,804 shares during the period. FDx Advisors Inc. increased its stake in Cerner by 15.4% during the 4th quarter. FDx Advisors Inc. now owns 22,500 shares of the company’s stock valued at $1,516,000 after buying an additional 3,005 shares during the period. ARP Americas LP increased its stake in Cerner by 128.9% during the 4th quarter. ARP Americas LP now owns 6,680 shares of the company’s stock valued at $450,000 after buying an additional 3,762 shares during the period. Finally, Synovus Financial Corp increased its stake in Cerner by 2.8% during the 4th quarter. Synovus Financial Corp now owns 46,306 shares of the company’s stock valued at $3,114,000 after buying an additional 1,241 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.
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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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