SunTrust Banks, Inc. reaffirmed their buy rating on shares of Cerner Corporation (NASDAQ:CERN) in a research report sent to investors on Thursday, October 19th. SunTrust Banks, Inc. currently has a $79.00 price objective on the stock.
Other analysts have also issued research reports about the stock. KeyCorp restated a buy rating and issued a $76.00 price target on shares of Cerner Corporation in a research note on Friday, September 22nd. Jefferies Group LLC reaffirmed a buy rating and issued a $74.00 price objective on shares of Cerner Corporation in a report on Thursday, July 6th. Canaccord Genuity reaffirmed a buy rating and issued a $69.00 price objective on shares of Cerner Corporation in a report on Wednesday, September 6th. Cantor Fitzgerald reaffirmed a buy rating and issued a $77.00 price objective on shares of Cerner Corporation in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $77.00 price objective on shares of Cerner Corporation in a report on Thursday, October 12th. Fifteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $69.05.
Shares of Cerner Corporation (NASDAQ CERN) traded down 8.43% during trading on Thursday, hitting $65.31. 7,823,697 shares of the stock were exchanged. Cerner Corporation has a one year low of $47.01 and a one year high of $73.86. The stock’s 50 day moving average price is $71.12 and its 200-day moving average price is $66.32. The company has a market cap of $21.66 billion, a price-to-earnings ratio of 33.00 and a beta of 0.95.
Cerner Corporation (NASDAQ:CERN) last issued its quarterly earnings results 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). The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Cerner Corporation had a return on equity of 18.50% and a net margin of 13.37%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. On average, analysts predict that Cerner Corporation will post $2.50 EPS for the current year.
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In other Cerner Corporation news, COO Michael Nill sold 99,470 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total value of $7,007,661.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Clifford W. Illig sold 118,113 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $62.03, for a total transaction of $7,326,549.39. Following the completion of the sale, the chairman now owns 1,229,719 shares in the company, valued at $76,279,469.57. The disclosure for this sale can be found here. Insiders sold 371,583 shares of company stock valued at $24,758,191 in the last ninety days. Corporate insiders own 13.20% of the company’s stock.
Institutional investors have recently modified their holdings of the business. ETF Managers Group LLC bought a new stake in Cerner Corporation in the second quarter worth about $157,000. Advisory Services Network LLC raised its position in Cerner Corporation by 4.4% in the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after acquiring an additional 70 shares in the last quarter. Acrospire Investment Management LLC raised its position in Cerner Corporation by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $120,000 after acquiring an additional 900 shares in the last quarter. Johnson Financial Group Inc. raised its position in Cerner Corporation by 2.6% in the first quarter. Johnson Financial Group Inc. now owns 1,870 shares of the company’s stock worth $110,000 after acquiring an additional 47 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new stake in Cerner Corporation in the second quarter worth about $130,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.
Cerner Corporation Company Profile
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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