Cerner (NASDAQ:CERN) Receives “Hold” Rating from Leerink Swann

Leerink Swann restated their hold rating on shares of Cerner (NASDAQ:CERN) in a research note published on Saturday, November 25th.

A number of other research firms have also recently issued reports on CERN. SunTrust Banks reiterated a buy rating and set a $79.00 target price on shares of Cerner in a report on Thursday, October 19th. Zacks Investment Research upgraded Cerner from a hold rating to a buy rating and set a $81.00 target price for the company in a report on Tuesday, October 17th. Royal Bank Of Canada reiterated a buy rating on shares of Cerner in a report on Wednesday, October 25th. Jefferies Group set a $79.00 target price on Cerner and gave the stock a buy rating in a report on Friday, October 13th. Finally, Piper Jaffray Companies reiterated a buy rating and set a $77.00 target price on shares of Cerner in a report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $69.50.

Shares of Cerner (NASDAQ:CERN) opened at $70.09 on Friday. The company has a market capitalization of $23,199.24, a price-to-earnings ratio of 30.88, a P/E/G ratio of 2.25 and a beta of 0.94. Cerner has a 12 month low of $47.01 and a 12 month high of $73.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.75 and a current ratio of 2.77.

Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Cerner had a return on equity of 18.03% and a net margin of 13.37%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 EPS. analysts expect that Cerner will post 2.25 earnings per share for the current fiscal year.

In related news, 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 value of $9,172,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,229,719 shares in the company, valued at approximately $80,571,188.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Clifford W. Illig sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $65.96, for a total transaction of $263,840.00. Following the completion of the sale, the chairman now owns 1,229,719 shares of the company’s stock, valued at $81,112,265.24. The disclosure for this sale can be found here. Insiders sold a total of 833,470 shares of company stock valued at $55,418,902 in the last 90 days. 13.11% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Alps Advisors Inc. raised its position in shares of Cerner by 0.3% in the second quarter. Alps Advisors Inc. now owns 8,693 shares of the company’s stock valued at $578,000 after buying an additional 23 shares in the last quarter. Laurel Wealth Advisors Inc. raised its position in shares of Cerner by 0.6% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,909 shares of the company’s stock valued at $259,000 after buying an additional 24 shares in the last quarter. Conning Inc. raised its position in shares of Cerner by 0.8% in the second quarter. Conning Inc. now owns 7,742 shares of the company’s stock valued at $515,000 after buying an additional 58 shares in the last quarter. ProVise Management Group LLC raised its position in shares of Cerner by 1.3% in the second quarter. ProVise Management Group LLC now owns 5,184 shares of the company’s stock valued at $345,000 after buying an additional 69 shares in the last quarter. Finally, Advisory Services Network LLC raised its position in shares of Cerner by 4.4% in the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece of content was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this piece of content can be accessed at https://stocknewstimes.com/2017/12/06/cerner-co-cern-rating-reiterated-by-leerink-swann.html.

About Cerner

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.

Analyst Recommendations for Cerner (NASDAQ:CERN)

Receive News & Ratings for Cerner Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerner Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply