Cerner Co. (CERN) Receives Consensus Recommendation of “Hold” from Analysts
Cerner Co. (NASDAQ:CERN) has received an average recommendation of “Hold” from the twenty-three brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $66.18.
CERN has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Cerner from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. BidaskClub cut shares of Cerner from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. Stifel Nicolaus reissued a “hold” rating on shares of Cerner in a research note on Wednesday, November 22nd. Evercore ISI initiated coverage on shares of Cerner in a research note on Thursday, January 18th. They issued an “in-line” rating and a $77.00 price objective for the company. Finally, SunTrust Banks dropped their price objective on shares of Cerner from $68.00 to $2.82 and set a “hold” rating for the company in a research note on Wednesday, February 7th.
Shares of Cerner (NASDAQ:CERN) opened at $63.05 on Wednesday. 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 stock has a market cap of $21,499.09, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 1.88 and a beta of 0.93. Cerner has a fifty-two week low of $54.49 and a fifty-two week high of $73.86.
In related news, Vice Chairman Clifford W. Illig sold 307,700 shares of Cerner stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $64.52, for a total transaction of $19,852,804.00. Following the completion of the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at approximately $79,341,469.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jeffrey A. Townsend sold 230,000 shares of Cerner stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $61.94, for a total transaction of $14,246,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 541,800 shares of company stock valued at $34,353,860. 13.11% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Cerner by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,759,894 shares of the company’s stock valued at $252,916,000 after buying an additional 98,444 shares during the period. Kalos Management Inc. boosted its position in Cerner by 32.9% in the 3rd quarter. Kalos Management Inc. now owns 13,155 shares of the company’s stock valued at $938,000 after buying an additional 3,254 shares during the period. Capital International Investors boosted its position in Cerner by 0.3% in the 3rd quarter. Capital International Investors now owns 4,851,296 shares of the company’s stock valued at $345,994,000 after buying an additional 12,178 shares during the period. Janus Henderson Group PLC boosted its position in Cerner by 5.2% in the 3rd quarter. Janus Henderson Group PLC now owns 634,137 shares of the company’s stock valued at $45,224,000 after buying an additional 31,131 shares during the period. Finally, Fieldpoint Private Securities LLC purchased a new stake in Cerner in the 3rd quarter valued at about $559,000. 78.56% of the stock is owned by hedge funds and other institutional investors.
Cerner 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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