Several other research firms have also recently issued reports on CERN. Zacks Investment Research cut shares of Cerner from a buy rating to a hold rating and set a $77.00 price target on the stock. in a report on Monday, July 29th. Canaccord Genuity upped their price target on shares of Cerner from $77.00 to $80.00 and gave the company a buy rating in a report on Thursday, July 25th. ValuEngine raised shares of Cerner from a hold rating to a buy rating in a report on Wednesday, May 1st. Piper Jaffray Companies upped their price target on shares of Cerner from $74.00 to $80.00 and gave the company an overweight rating in a report on Thursday, July 25th. Finally, KeyCorp reaffirmed an overweight rating and issued a $82.00 price target (up from $76.00) on shares of Cerner in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $74.73.
Shares of CERN stock opened at $67.93 on Thursday. The company has a market capitalization of $22.82 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 2.05 and a beta of 0.92. The firm has a fifty day simple moving average of $72.56 and a 200-day simple moving average of $65.98. The company has a current ratio of 2.52, a quick ratio of 2.50 and a debt-to-equity ratio of 0.22. Cerner has a twelve month low of $48.78 and a twelve month high of $76.47.
Cerner (NASDAQ:CERN) last announced its earnings results on Wednesday, July 24th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.44 billion. Cerner had a net margin of 10.75% and a return on equity of 15.14%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. Equities research analysts predict that Cerner will post 2.43 EPS for the current year.
The business also recently declared a special dividend, which was paid on Friday, July 26th. Investors of record on Tuesday, June 18th were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 17th. Cerner’s dividend payout ratio is presently 32.58%.
In other Cerner news, EVP Randy D. Sims sold 40,000 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $72.45, for a total transaction of $2,898,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Michael Nill sold 244,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $69.42, for a total transaction of $16,938,480.00. The disclosure for this sale can be found here. Insiders have sold 324,912 shares of company stock worth $22,776,268 over the last three months. 0.75% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of CERN. Nuveen Asset Management LLC raised its holdings in shares of Cerner by 28,932.0% during the second quarter. Nuveen Asset Management LLC now owns 2,380,911 shares of the company’s stock worth $174,521,000 after purchasing an additional 2,372,710 shares during the period. BlackRock Inc. raised its holdings in shares of Cerner by 8.4% during the first quarter. BlackRock Inc. now owns 23,927,386 shares of the company’s stock worth $1,368,887,000 after purchasing an additional 1,848,617 shares during the period. AQR Capital Management LLC raised its holdings in shares of Cerner by 166.4% during the second quarter. AQR Capital Management LLC now owns 2,714,579 shares of the company’s stock worth $195,721,000 after purchasing an additional 1,695,766 shares during the period. Parnassus Investments CA raised its holdings in shares of Cerner by 15.6% during the first quarter. Parnassus Investments CA now owns 11,361,322 shares of the company’s stock worth $649,981,000 after purchasing an additional 1,531,499 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Cerner by 21.4% during the second quarter. Invesco Ltd. now owns 5,931,690 shares of the company’s stock worth $434,793,000 after purchasing an additional 1,044,715 shares during the period. 81.87% of the stock is currently owned by institutional investors.
Cerner Company Profile
Cerner Corporation provides health care information technology solutions and tech-enabled 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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