Cerner (NASDAQ:CERN) had its price target boosted by research analysts at Deutsche Bank from $72.00 to $77.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm presently has a “buy” rating on the stock. Deutsche Bank’s price target points to a potential upside of 10.87% from the company’s previous close.
CERN has been the subject of several other research reports. BidaskClub upgraded Cerner from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 28th. Morgan Stanley raised their price target on Cerner from $52.00 to $58.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 13th. UBS Group reduced their price objective on shares of Cerner from $84.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Jefferies Financial Group raised shares of Cerner from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $90.00 in a research report on Wednesday, April 22nd. Finally, Stephens initiated coverage on shares of Cerner in a research report on Monday, July 6th. They set an “equal weight” rating and a $75.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. Cerner currently has a consensus rating of “Buy” and a consensus target price of $78.08.
Shares of NASDAQ CERN opened at $69.45 on Friday. The firm’s fifty day moving average is $70.10 and its 200 day moving average is $70.00. Cerner has a 52 week low of $53.08 and a 52 week high of $80.90. The company has a quick ratio of 1.90, a current ratio of 2.04 and a debt-to-equity ratio of 0.33. The company has a market cap of $21.14 billion, a price-to-earnings ratio of 41.84, a PEG ratio of 2.18 and a beta of 0.87.
Cerner (NASDAQ:CERN) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Cerner had a net margin of 9.23% and a return on equity of 18.19%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 earnings per share. Equities research analysts anticipate that Cerner will post 2.5 earnings per share for the current year.
In other news, insider Tracy L. Platt sold 6,948 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $71.38, for a total transaction of $495,948.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Brent Shafer sold 14,282 shares of Cerner stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $68.52, for a total value of $978,602.64. The disclosure for this sale can be found here. Insiders sold 128,875 shares of company stock worth $9,146,690 over the last three months. Corporate insiders own 0.33% of the company’s stock.
A number of institutional investors have recently modified their holdings of CERN. Flagship Harbor Advisors LLC lifted its stake in shares of Cerner by 151.5% in the second quarter. Flagship Harbor Advisors LLC now owns 425 shares of the company’s stock worth $29,000 after buying an additional 256 shares in the last quarter. Ellevest Inc. raised its holdings in Cerner by 53.0% in the 2nd quarter. Ellevest Inc. now owns 514 shares of the company’s stock worth $35,000 after acquiring an additional 178 shares during the last quarter. NewSquare Capital LLC purchased a new position in Cerner in the 1st quarter worth approximately $38,000. Simon Quick Advisors LLC lifted its position in Cerner by 1,440.5% in the 1st quarter. Simon Quick Advisors LLC now owns 647 shares of the company’s stock valued at $41,000 after acquiring an additional 605 shares in the last quarter. Finally, Campbell Wealth Management purchased a new stake in Cerner during the 2nd quarter valued at $42,000. 82.72% of the stock is owned by institutional investors and hedge funds.
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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