Cerner Co. (CERN) Receives Average Rating of “Buy” from Analysts

Shares of Cerner Co. (NASDAQ:CERN) have been given a consensus recommendation of “Buy” by the twenty ratings firms that are currently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $69.91.

Several brokerages have weighed in on CERN. SunTrust Banks boosted their price objective on Cerner to $65.00 and gave the stock a “hold” rating in a research note on Monday, August 6th. KeyCorp boosted their price objective on Cerner from $74.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, August 20th. BidaskClub cut Cerner from a “hold” rating to a “sell” rating in a research note on Friday, August 31st. Barclays began coverage on Cerner in a research note on Thursday, September 13th. They set an “equal weight” rating and a $70.00 price objective on the stock. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $80.00 price objective on shares of Cerner in a research note on Wednesday, September 12th.

Shares of CERN stock opened at $58.40 on Thursday. Cerner has a 12-month low of $50.91 and a 12-month high of $73.43. The company has a current ratio of 2.63, a quick ratio of 2.60 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $18.28 billion, a PE ratio of 26.55, a PEG ratio of 1.76 and a beta of 0.92.

Cerner (NASDAQ:CERN) last issued its earnings results on Thursday, August 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Cerner had a return on equity of 14.73% and a net margin of 15.72%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. As a group, analysts predict that Cerner will post 2.28 EPS for the current year.

In other news, President Zane M. Burke sold 283,539 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $63.68, for a total transaction of $18,055,763.52. Following the transaction, the president now owns 59,539 shares of the company’s stock, valued at $3,791,443.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Michael R. Battaglioli sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $67.02, for a total value of $268,080.00. Following the transaction, the chief accounting officer now directly owns 2,226 shares in the company, valued at approximately $149,186.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,270,870 shares of company stock worth $82,486,031. Insiders own 4.71% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its stake in shares of Cerner by 3.1% during the third quarter. Arizona State Retirement System now owns 119,686 shares of the company’s stock valued at $7,709,000 after buying an additional 3,579 shares during the last quarter. GWM Advisors LLC bought a new position in shares of Cerner during the third quarter valued at approximately $211,000. Court Place Advisors LLC bought a new position in shares of Cerner during the third quarter valued at approximately $213,000. NN Investment Partners Holdings N.V. bought a new position in shares of Cerner during the third quarter valued at approximately $3,736,000. Finally, Bell Asset Management Ltd grew its stake in shares of Cerner by 6.6% during the third quarter. Bell Asset Management Ltd now owns 119,809 shares of the company’s stock valued at $7,717,000 after buying an additional 7,426 shares during the last quarter. 76.40% of the stock is currently owned by hedge funds and other institutional investors.

Cerner Company Profile

Cerner Corporation provides health care information technology solutions and 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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Analyst Recommendations for Cerner (NASDAQ:CERN)

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