Cerner (CERN) Raised to “Outperform” at Leerink Swann

Leerink Swann upgraded shares of Cerner (NASDAQ:CERN) from a market perform rating to an outperform rating in a research report released on Monday morning, Marketbeat reports. The brokerage currently has $70.00 price target on the stock. Leerink Swann also issued estimates for Cerner’s Q1 2019 earnings at $0.60 EPS, Q2 2019 earnings at $0.64 EPS, Q3 2019 earnings at $0.65 EPS and Q4 2019 earnings at $0.66 EPS.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity increased their price objective on shares of Cerner from $64.00 to $71.00 and gave the company a buy rating in a research report on Friday, August 3rd. Zacks Investment Research raised shares of Cerner from a sell rating to a hold rating in a research report on Wednesday, October 24th. Barclays dropped their target price on shares of Cerner from $70.00 to $67.00 and set an equal weight rating on the stock in a research report on Friday, October 26th. BidaskClub raised shares of Cerner from a sell rating to a hold rating in a research report on Thursday, September 27th. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $71.00 target price on shares of Cerner in a research report on Friday, August 3rd. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $69.98.

Shares of NASDAQ:CERN opened at $57.28 on Monday. Cerner has a 52 week low of $50.91 and a 52 week 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 company has a market capitalization of $18.30 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.87 and a beta of 0.92.

Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Cerner had a net margin of 15.72% and a return on equity of 14.73%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm posted $0.61 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, research analysts forecast that Cerner will post 2.27 earnings per share for the current year.

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

Institutional investors have recently modified their holdings of the business. Icon Wealth Partners LLC purchased a new position in Cerner during the 2nd quarter worth $102,000. CWM LLC grew its position in Cerner by 880.5% during the 2nd quarter. CWM LLC now owns 2,510 shares of the company’s stock worth $150,000 after purchasing an additional 2,254 shares during the last quarter. Alpha Windward LLC purchased a new position in Cerner during the 2nd quarter worth $160,000. Qube Research & Technologies Ltd grew its position in Cerner by 85.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,898 shares of the company’s stock worth $173,000 after purchasing an additional 1,335 shares during the last quarter. Finally, Raymond James Trust N.A. purchased a new position in Cerner during the 3rd quarter worth $201,000. 76.40% of the stock is currently owned by institutional investors.

About Cerner

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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