Cerner (NASDAQ:CERN)‘s stock had its “buy” rating reiterated by equities research analysts at Cantor Fitzgerald in a note issued to investors on Wednesday. They currently have a $80.00 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 29.49% from the company’s previous close.
The analysts wrote, “Various news outlets are suggesting that President Trump will soon replace VA Secretary David Shulkin.””
Other equities research analysts have also recently issued research reports about the stock. SunTrust Banks lowered their target price on shares of Cerner from $68.00 to $2.82 and set a “hold” rating on the stock in a report on Wednesday, February 7th. Argus cut shares of Cerner from a “buy” rating to a “hold” rating and upped their price target for the stock from $54.49 to $64.65 in a report on Tuesday. Evercore ISI began coverage on shares of Cerner in a report on Thursday, January 18th. They issued an “in-line” rating and a $77.00 price target on the stock. Canaccord Genuity reaffirmed a “buy” rating on shares of Cerner in a report on Wednesday, February 7th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $76.00 price target on shares of Cerner in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. Cerner currently has an average rating of “Hold” and a consensus price target of $67.50.
Cerner (NASDAQ:CERN) last issued its earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.03). Cerner had a net margin of 16.86% and a return on equity of 16.82%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm earned $0.61 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. equities research analysts forecast that Cerner will post 2.42 earnings per share for the current fiscal year.
In related news, Vice Chairman Clifford W. Illig sold 307,700 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $64.52, for a total value of $19,852,804.00. Following the transaction, the insider now owns 1,229,719 shares of the company’s stock, valued at $79,341,469.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William D. Zollars sold 4,100 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $62.16, for a total value of $254,856.00. The disclosure for this sale can be found here. In the last three months, insiders sold 541,800 shares of company stock worth $34,353,860. 13.11% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CERN. Leavell Investment Management Inc. boosted its position in Cerner by 3.1% during the fourth quarter. Leavell Investment Management Inc. now owns 22,785 shares of the company’s stock valued at $1,535,000 after buying an additional 693 shares during the period. Resources Investment Advisors Inc. boosted its position in Cerner by 1.6% during the fourth quarter. Resources Investment Advisors Inc. now owns 47,051 shares of the company’s stock valued at $3,171,000 after buying an additional 753 shares during the period. Autus Asset Management LLC boosted its position in Cerner by 0.9% during the third quarter. Autus Asset Management LLC now owns 91,911 shares of the company’s stock valued at $6,555,000 after buying an additional 813 shares during the period. Pinkerton Retirement Specialists LLC boosted its position in Cerner by 4.6% during the third quarter. Pinkerton Retirement Specialists LLC now owns 19,310 shares of the company’s stock valued at $1,391,000 after buying an additional 847 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its position in Cerner by 4.3% during the third quarter. Candriam Luxembourg S.C.A. now owns 20,856 shares of the company’s stock valued at $1,487,000 after buying an additional 857 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.
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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