A number of other brokerages have also recently issued reports on CERN. SunTrust Banks upped their price objective on Cerner from $76.00 to $80.00 and gave the stock a buy rating in a research note on Monday, December 16th. Barclays set a $70.00 target price on Cerner and gave the stock a hold rating in a report on Friday, October 25th. Wells Fargo & Co boosted their target price on Cerner from $80.00 to $83.50 and gave the stock an overweight rating in a report on Wednesday, January 8th. Royal Bank of Canada initiated coverage on Cerner in a report on Wednesday, November 27th. They set an outperform rating and a $80.00 target price on the stock. Finally, Cowen set a $66.00 target price on Cerner and gave the stock a hold rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Cerner presently has an average rating of Buy and an average target price of $77.79.
Shares of Cerner stock opened at $75.86 on Friday. Cerner has a 12-month low of $52.66 and a 12-month high of $76.47. The stock has a market cap of $23.83 billion, a P/E ratio of 48.63, a P/E/G ratio of 1.95 and a beta of 0.93. The company has a quick ratio of 2.19, a current ratio of 2.21 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $73.03 and its 200-day moving average is $70.44.
Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. Cerner had a return on equity of 15.61% and a net margin of 9.02%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts expect that Cerner will post 2.41 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Friday, December 27th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Thursday, December 26th. Cerner’s dividend payout ratio is 32.58%.
In other Cerner news, CAO Michael R. Battaglioli sold 10,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $72.06, for a total value of $720,600.00. Following the transaction, the chief accounting officer now directly owns 6,226 shares of the company’s stock, valued at approximately $448,645.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Peterzalek sold 29,665 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $70.70, for a total value of $2,097,315.50. Over the last ninety days, insiders sold 121,437 shares of company stock worth $8,426,657. Insiders own 0.75% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of 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 in the last quarter. Enterprise Financial Services Corp lifted its position in shares of Cerner by 142.8% during the 3rd quarter. Enterprise Financial Services Corp now owns 420 shares of the company’s stock valued at $29,000 after acquiring an additional 247 shares during the period. CSat Investment Advisory L.P. lifted its position in shares of Cerner by 119.7% during the 2nd quarter. CSat Investment Advisory L.P. now owns 637 shares of the company’s stock valued at $47,000 after acquiring an additional 347 shares during the period. Manchester Financial Inc. bought a new stake in shares of Cerner during the 4th quarter valued at $59,000. Finally, Signaturefd LLC lifted its position in shares of Cerner by 26.8% during the 3rd quarter. Signaturefd LLC now owns 937 shares of the company’s stock valued at $64,000 after acquiring an additional 198 shares during the period. 81.69% 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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