Cerner (CERN) Downgraded to “Hold” at SunTrust Banks

SunTrust Banks lowered shares of Cerner (NASDAQ:CERN) from a buy rating to a hold rating in a research report released on Tuesday morning. The analysts noted that the move was a valuation call.

CERN has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Cerner from a buy rating to a hold rating in a research report on Thursday, January 4th. Cantor Fitzgerald boosted their price objective on shares of Cerner to $83.00 and gave the company an overweight rating in a research report on Friday, January 5th. Royal Bank of Canada reissued a buy rating on shares of Cerner in a research report on Wednesday, October 25th. BidaskClub downgraded shares of Cerner from a buy rating to a hold rating in a research report on Friday, December 22nd. Finally, Stifel Nicolaus reissued a hold rating on shares of Cerner in a research report on Wednesday, November 22nd. Sixteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Cerner has an average rating of Hold and an average price target of $69.83.

Shares of Cerner (NASDAQ CERN) traded down $0.34 during mid-day trading on Tuesday, hitting $70.28. 1,945,598 shares of the stock were exchanged, compared to its average volume of 1,631,936. Cerner has a 12-month low of $50.33 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. The company has a market cap of $23,360.00, a P/E ratio of 34.97, a price-to-earnings-growth ratio of 2.17 and a beta of 0.94.

Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). Cerner had a net margin of 13.37% and a return on equity of 18.03%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm earned $0.59 EPS. The company’s revenue was up 7.7% on a year-over-year basis. sell-side analysts expect that Cerner will post 2.24 earnings per share for the current fiscal year.

In related news, CEO Clifford W. Illig sold 140,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 1,229,719 shares of the company’s stock, valued at approximately $80,571,188.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Marc G. Naughton sold 60,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $70.64, for a total transaction of $4,238,400.00. The disclosure for this sale can be found here. Insiders sold a total of 788,000 shares of company stock valued at $52,190,800 in the last ninety days. 13.11% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. lifted its stake in Cerner by 4.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,087,601 shares of the company’s stock worth $73,294,000 after purchasing an additional 48,289 shares in the last quarter. Creative Planning lifted its stake in Cerner by 0.5% in the 4th quarter. Creative Planning now owns 346,196 shares of the company’s stock worth $23,330,000 after purchasing an additional 1,727 shares in the last quarter. Bank of Montreal Can lifted its stake in Cerner by 42.7% in the 4th quarter. Bank of Montreal Can now owns 209,232 shares of the company’s stock worth $14,099,000 after purchasing an additional 62,558 shares in the last quarter. Solaris Asset Management LLC lifted its stake in Cerner by 56.2% in the 4th quarter. Solaris Asset Management LLC now owns 60,482 shares of the company’s stock worth $4,076,000 after purchasing an additional 21,749 shares in the last quarter. Finally, Skylands Capital LLC purchased a new stake in Cerner in the 4th quarter worth $337,000. Institutional investors and hedge funds own 81.83% of the company’s stock.

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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)

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