Bank of America Initiates Coverage on Cerner (CERN)
Bank of America assumed coverage on shares of Cerner (NASDAQ:CERN) in a research note published on Tuesday, MarketBeat reports. The firm issued a buy rating and a $75.00 price target on the stock.
Other research analysts have also issued research reports about the company. SunTrust Banks decreased their price objective on Cerner from $68.00 to $2.82 and set a hold rating on the stock in a report on Wednesday, February 7th. Cantor Fitzgerald decreased their price objective on Cerner from $83.00 to $80.00 and set an overweight rating on the stock in a report on Wednesday, February 7th. Evercore ISI began coverage on Cerner in a report on Thursday, January 18th. They issued an in-line rating and a $77.00 price objective on the stock. Canaccord Genuity restated a buy rating on shares of Cerner in a report on Wednesday, February 7th. Finally, Royal Bank of Canada restated a buy rating and issued a $76.00 price objective on shares of Cerner in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $67.55.
Cerner (NASDAQ CERN) opened at $62.94 on Tuesday. The company has a quick ratio of 2.99, a current ratio of 3.01 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $20,744.09, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.84 and a beta of 0.93. Cerner has a fifty-two week low of $54.01 and a fifty-two week high of $73.86.
In related news, VP Jeffrey A. Townsend sold 230,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $61.94, for a total value of $14,246,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Michael R. Battaglioli sold 4,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $69.89, for a total transaction of $279,560.00. Following the completion of the sale, the vice president now owns 4,000 shares in the company, valued at $279,560. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,100 shares of company stock worth $18,280,616. Insiders own 13.11% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of CERN. Robeco Institutional Asset Management B.V. raised its holdings in Cerner by 24.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 18,705 shares of the company’s stock valued at $1,335,000 after buying an additional 3,630 shares during the period. Aperio Group LLC raised its holdings in Cerner by 28.4% in the 3rd quarter. Aperio Group LLC now owns 191,831 shares of the company’s stock valued at $13,681,000 after buying an additional 42,388 shares during the period. Korea Investment CORP raised its holdings in Cerner by 19.9% in the 3rd quarter. Korea Investment CORP now owns 169,734 shares of the company’s stock valued at $12,105,000 after buying an additional 28,200 shares during the period. First Quadrant L P CA raised its holdings in Cerner by 47.1% in the 3rd quarter. First Quadrant L P CA now owns 5,000 shares of the company’s stock valued at $357,000 after buying an additional 1,600 shares during the period. Finally, Calamos Advisors LLC raised its holdings in Cerner by 3.8% in the 3rd quarter. Calamos Advisors LLC now owns 56,057 shares of the company’s stock valued at $3,998,000 after buying an additional 2,054 shares during the period. Hedge funds and other institutional investors own 81.63% of the company’s stock.
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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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