Piper Jaffray Companies set a $78.00 price target on Cerner (NASDAQ:CERN) in a report issued on Friday, TipRanks reports. The firm currently has a buy rating on the stock.
CERN has been the subject of a number of other research reports. Deutsche Bank initiated coverage on Cerner in a report on Thursday, September 26th. They set a buy rating and a $82.00 target price for the company. Canaccord Genuity boosted their target price on Cerner from $77.00 to $80.00 and gave the stock a buy rating in a report on Thursday, July 25th. KeyCorp reiterated an overweight rating and set a $82.00 target price (up previously from $76.00) on shares of Cerner in a report on Friday, August 16th. Cowen set a $66.00 target price on Cerner and gave the stock a hold rating in a report on Friday. Finally, Citigroup boosted their target price on Cerner from $77.00 to $84.00 and gave the stock a buy rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Cerner currently has a consensus rating of Buy and an average price target of $76.31.
CERN traded up $0.57 during midday trading on Friday, hitting $67.00. The company’s stock had a trading volume of 2,646,251 shares, compared to its average volume of 2,317,935. The company has a current ratio of 2.52, a quick ratio of 2.50 and a debt-to-equity ratio of 0.22. The firm has a market cap of $21.49 billion, a P/E ratio of 30.32, a PEG ratio of 2.10 and a beta of 0.93. The firm has a 50-day moving average price of $67.53 and a two-hundred day moving average price of $69.32. Cerner has a 52-week low of $48.78 and a 52-week high of $76.47.
Cerner (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Cerner had a return on equity of 15.20% and a net margin of 9.02%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. On average, equities analysts expect that Cerner will post 2.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 25th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Tuesday, September 24th. Cerner’s dividend payout ratio is 32.58%.
In other Cerner news, COO Michael Nill sold 13,124 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $68.07, for a total value of $893,350.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Marc G. Naughton sold 24,110 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $67.58, for a total value of $1,629,353.80. Following the completion of the sale, the chief financial officer now directly owns 84,898 shares in the company, valued at approximately $5,737,406.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 344,268 shares of company stock worth $23,243,010. 0.75% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC grew its holdings in Cerner by 185.9% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 386 shares of the company’s stock valued at $26,000 after buying an additional 251 shares during the last quarter. Berman Capital Advisors LLC grew its holdings in Cerner by 115.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 381 shares of the company’s stock valued at $27,000 after buying an additional 204 shares during the last quarter. Altshuler Shaham Ltd grew its holdings in Cerner by 173.2% in the 2nd quarter. Altshuler Shaham Ltd now owns 388 shares of the company’s stock valued at $28,000 after buying an additional 246 shares during the last quarter. CSat Investment Advisory L.P. grew its holdings in Cerner by 119.7% in the 2nd quarter. CSat Investment Advisory L.P. now owns 637 shares of the company’s stock valued at $47,000 after buying an additional 347 shares during the last quarter. Finally, Valeo Financial Advisors LLC acquired a new stake in Cerner in the 2nd quarter valued at approximately $49,000. 82.70% 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 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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