Cerner (CERN) Price Target Cut to $75.00
A number of other analysts have also recently commented on the company. Zacks Investment Research cut Cerner from a hold rating to a sell rating in a research report on Thursday, July 19th. BidaskClub cut Cerner from a hold rating to a sell rating in a research report on Friday, August 31st. Barclays assumed coverage on Cerner in a research report on Thursday, September 13th. They issued an equal weight rating and a $70.00 price objective for the company. Royal Bank of Canada lowered Cerner from an outperform rating to a sector perform rating and lowered their price target for the stock from $72.00 to $54.00 in a research note on Friday. Finally, KeyCorp lifted their price target on Cerner from $74.00 to $76.00 and gave the stock an overweight rating in a research note on Monday, August 20th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $69.98.
Cerner stock opened at $55.55 on Friday. The company has a market capitalization of $18.28 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.76 and a beta of 0.92. Cerner has a 12 month low of $50.91 and a 12 month high of $73.43. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.85 and a quick ratio of 2.83.
In other Cerner news, President Zane M. Burke sold 151,818 shares of the business’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $65.44, for a total transaction of $9,934,969.92. Following the transaction, the president now owns 37,418 shares of the company’s stock, valued at $2,448,633.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Clifford W. Illig sold 378,900 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $66.46, for a total value of $25,181,694.00. Following the transaction, the insider now directly owns 1,229,719 shares in the company, valued at approximately $81,727,124.74. The disclosure for this sale can be found here. Insiders sold 1,270,870 shares of company stock worth $82,486,031 over the last ninety days. Corporate insiders own 4.71% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CERN. Parnassus Investments CA boosted its stake in Cerner by 178.1% during the second quarter. Parnassus Investments CA now owns 7,207,631 shares of the company’s stock worth $430,944,000 after buying an additional 4,616,290 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Cerner during the third quarter worth $108,027,000. Epoch Investment Partners Inc. boosted its stake in Cerner by 1,497.5% during the second quarter. Epoch Investment Partners Inc. now owns 1,520,499 shares of the company’s stock worth $90,910,000 after buying an additional 1,425,317 shares during the last quarter. LGT Capital Partners LTD. acquired a new position in Cerner during the second quarter worth $58,038,000. Finally, Veritas Asset Management LLP boosted its stake in Cerner by 25.7% during the second quarter. Veritas Asset Management LLP now owns 4,586,572 shares of the company’s stock worth $274,231,000 after buying an additional 937,800 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.
Cerner Company Profile
Cerner Corporation provides health care information technology solutions and services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.
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