Cerner Corporation (NASDAQ:CERN) has been given a $79.00 price target by research analysts at Jefferies Group LLC in a research note issued on Friday. The brokerage currently has a “buy” rating on the stock. Jefferies Group LLC’s price target would indicate a potential upside of 7.38% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. Morgan Stanley upgraded shares of Cerner Corporation from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $59.00 to $62.00 in a report on Thursday, August 10th. BidaskClub lowered shares of Cerner Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Royal Bank Of Canada assumed coverage on shares of Cerner Corporation in a report on Tuesday, September 19th. They issued a “top pick” rating and a $84.00 target price on the stock. Zacks Investment Research lowered shares of Cerner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $69.00 target price on shares of Cerner Corporation in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Cerner Corporation has an average rating of “Hold” and a consensus target price of $67.83.
Cerner Corporation (NASDAQ:CERN) traded down 1.45% during trading on Friday, reaching $72.50. 322,875 shares of the company’s stock traded hands. Cerner Corporation has a 12 month low of $47.01 and a 12 month high of $73.86. The company has a market cap of $24.04 billion, a P/E ratio of 36.63 and a beta of 0.95. The firm’s 50 day moving average is $70.00 and its 200 day moving average is $65.53.
Cerner Corporation (NASDAQ:CERN) last posted its earnings results on Thursday, July 27th. The company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.01). The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. Cerner Corporation had a return on equity of 18.18% and a net margin of 13.47%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.58 earnings per share. Analysts anticipate that Cerner Corporation will post $2.50 EPS for the current year.
In related news, SVP Randy D. Sims sold 60,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $68.03, for a total value of $4,081,800.00. Following the completion of the transaction, the senior vice president now owns 60,890 shares of the company’s stock, valued at $4,142,346.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Michael Nill sold 99,470 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total transaction of $7,007,661.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 371,583 shares of company stock valued at $24,758,191. 13.20% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Cerner Corporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock valued at $1,947,341,000 after purchasing an additional 876,919 shares in the last quarter. BlackRock Inc. grew its position in shares of Cerner Corporation by 0.8% in the 2nd quarter. BlackRock Inc. now owns 18,436,042 shares of the company’s stock valued at $1,225,441,000 after acquiring an additional 137,320 shares during the period. Bank of New York Mellon Corp grew its position in shares of Cerner Corporation by 19.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,546,618 shares of the company’s stock valued at $1,166,325,000 after acquiring an additional 2,800,955 shares during the period. State Street Corp grew its position in shares of Cerner Corporation by 1.8% in the 1st quarter. State Street Corp now owns 12,593,837 shares of the company’s stock valued at $741,147,000 after acquiring an additional 228,570 shares during the period. Finally, Fiduciary Management Inc. WI grew its position in shares of Cerner Corporation by 63.2% in the 1st quarter. Fiduciary Management Inc. WI now owns 8,241,408 shares of the company’s stock valued at $485,007,000 after acquiring an additional 3,192,338 shares during the period. 78.94% of the stock is owned by institutional investors and hedge funds.
About Cerner Corporation
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.
Receive News & Ratings for Cerner Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerner Corporation and related companies with MarketBeat.com's FREE daily email newsletter.