Cerner (NASDAQ:CERN) PT Set at $70.00 by Barclays

Barclays set a $70.00 price objective on Cerner (NASDAQ:CERN) in a report issued on Friday, TipRanks reports. The firm currently has a hold rating on the stock.

CERN has been the subject of several other research reports. Argus upgraded shares of Cerner from a hold rating to a buy rating in a research report on Thursday, August 22nd. Morgan Stanley upped their price target on shares of Cerner from $49.00 to $62.00 and gave the company an underweight rating in a research report on Friday, August 23rd. Citigroup upped their price target on shares of Cerner from $77.00 to $84.00 and gave the company a buy rating in a research report on Thursday, July 25th. Deutsche Bank began coverage on shares of Cerner in a research report on Thursday, September 26th. They issued a buy rating and a $82.00 price target for the company. Finally, ValuEngine downgraded shares of Cerner from a buy rating to a hold rating in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. Cerner currently has an average rating of Buy and a consensus price target of $76.31.

Shares of NASDAQ:CERN opened at $67.00 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.50 and a current ratio of 2.52. The company has a market cap of $21.49 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 2.10 and a beta of 0.93. Cerner has a 52 week low of $48.78 and a 52 week high of $76.47. The firm has a 50 day simple moving average of $67.47 and a 200 day simple moving average of $69.44.

Cerner (NASDAQ:CERN) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.66 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Cerner had a net margin of 9.02% and a return on equity of 15.20%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. On average, equities analysts predict that Cerner will post 2.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 25th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $0.72 dividend on an annualized basis and a yield of 1.07%. Cerner’s payout ratio is 32.58%.

In other news, COO Michael Nill sold 13,124 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $68.07, for a total transaction of $893,350.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Peterzalek sold 42,767 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $68.33, for a total transaction of $2,922,269.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 344,268 shares of company stock valued at $23,243,010. Insiders own 0.75% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CERN. Nuveen Asset Management LLC raised its holdings in shares of Cerner by 28,932.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,380,911 shares of the company’s stock valued at $174,521,000 after purchasing an additional 2,372,710 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Cerner by 166.4% during the 2nd quarter. AQR Capital Management LLC now owns 2,714,579 shares of the company’s stock valued at $195,721,000 after purchasing an additional 1,695,766 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Cerner by 21.4% during the 2nd quarter. Invesco Ltd. now owns 5,931,690 shares of the company’s stock valued at $434,793,000 after purchasing an additional 1,044,715 shares in the last quarter. Man Group plc raised its holdings in shares of Cerner by 572.2% during the 2nd quarter. Man Group plc now owns 1,103,741 shares of the company’s stock valued at $80,904,000 after purchasing an additional 939,552 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Cerner by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 33,776,244 shares of the company’s stock valued at $2,475,799,000 after purchasing an additional 719,784 shares in the last quarter. Institutional investors and hedge funds own 82.70% of the company’s stock.

About Cerner

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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Analyst Recommendations for Cerner (NASDAQ:CERN)

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