Royal Bank of Canada reissued their buy rating on shares of Cerner (NASDAQ:CERN) in a research report released on Thursday morning, AnalystRatings.com reports. The firm currently has a $80.00 price objective on the stock.
Several other research firms have also recently issued reports on CERN. Morgan Stanley raised their price objective on Cerner from $52.00 to $58.00 and gave the stock an underweight rating in a report on Wednesday, May 13th. Barclays lowered their price target on Cerner from $72.00 to $67.00 and set an equal weight rating for the company in a report on Wednesday, April 29th. Stephens initiated coverage on shares of Cerner in a research note on Monday, July 6th. They set an equal weight rating and a $75.00 price objective for the company. Canaccord Genuity reissued a buy rating on shares of Cerner in a research report on Wednesday, April 29th. Finally, SVB Leerink assumed coverage on shares of Cerner in a research report on Monday, April 13th. They set an outperform rating and a $78.00 price target for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $78.08.
Shares of CERN stock opened at $69.45 on Thursday. The company has a market capitalization of $21.14 billion, a price-to-earnings ratio of 41.84, a PEG ratio of 2.18 and a beta of 0.87. The company has a current ratio of 2.04, a quick ratio of 1.90 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $70.10 and a 200 day moving average price of $70.00. Cerner has a twelve month low of $53.08 and a twelve month high of $80.90.
Cerner (NASDAQ:CERN) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Cerner had a net margin of 9.23% and a return on equity of 18.19%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, research analysts predict that Cerner will post 2.5 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 5th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, June 4th. Cerner’s dividend payout ratio is presently 29.88%.
In other Cerner news, CEO David Brent Shafer sold 14,282 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $68.52, for a total value of $978,602.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Linda M. Dillman sold 3,556 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $72.32, for a total transaction of $257,169.92. The disclosure for this sale can be found here. Insiders sold 128,875 shares of company stock valued at $9,146,690 in the last ninety days. 0.33% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC grew its stake in Cerner by 151.5% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 425 shares of the company’s stock valued at $29,000 after purchasing an additional 256 shares in the last quarter. Ellevest Inc. grew its position in shares of Cerner by 53.0% during the second quarter. Ellevest Inc. now owns 514 shares of the company’s stock worth $35,000 after buying an additional 178 shares in the last quarter. NewSquare Capital LLC bought a new stake in shares of Cerner in the first quarter worth $38,000. Campbell Wealth Management acquired a new stake in Cerner in the second quarter valued at $42,000. Finally, Simon Quick Advisors LLC boosted its stake in Cerner by 1,440.5% during the 1st quarter. Simon Quick Advisors LLC now owns 647 shares of the company’s stock valued at $41,000 after acquiring an additional 605 shares during the last quarter. Institutional investors and hedge funds own 82.72% of the company’s stock.
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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