Cerner Corp. (CERN) Downgraded by Vetr Inc.
Cerner Corp. (NASDAQ:CERN) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued on Monday. They presently have a $64.78 price objective on the stock. Vetr‘s price objective indicates a potential upside of 4.45% from the stock’s previous close.
CERN has been the topic of a number of other reports. Deutsche Bank AG reaffirmed a “buy” rating on shares of Cerner Corp. in a research note on Sunday, April 17th. FBR & Co reaffirmed a “buy” rating on shares of Cerner Corp. in a research note on Tuesday, April 12th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Cerner Corp. in a research note on Sunday, June 26th. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $70.00 target price on shares of Cerner Corp. in a research note on Thursday, April 7th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Cerner Corp. in a research note on Wednesday, April 6th. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Cerner Corp. presently has an average rating of “Buy” and a consensus price target of $66.15.
Cerner Corp. (NASDAQ:CERN) traded down 1.19% during trading on Monday, hitting $62.02. 3,746,988 shares of the stock were exchanged. The stock has a market cap of $20.94 billion, a P/E ratio of 34.06 and a beta of 0.66. Cerner Corp. has a 12 month low of $49.59 and a 12 month high of $68.31. The stock’s 50 day moving average price is $64.66 and its 200 day moving average price is $57.99.
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Cerner Corp. (NASDAQ:CERN) last issued its earnings results on Tuesday, August 2nd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Cerner Corp. had a net margin of 13.53% and a return on equity of 18.57%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. Cerner Corp.’s quarterly revenue was up 8.0% compared to the same quarter last year. Analysts forecast that Cerner Corp. will post $2.36 EPS for the current fiscal year.
In related news, VP Michael R. Battaglioli sold 2,000 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $67.34, for a total transaction of $134,680.00. Following the completion of the sale, the vice president now owns 2,000 shares in the company, valued at approximately $134,680. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Clifford W. Illig sold 325,705 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $65.10, for a total transaction of $21,203,395.50. Following the sale, the insider now owns 6,652,392 shares of the company’s stock, valued at approximately $433,070,719.20. The disclosure for this sale can be found here. Corporate insiders own 13.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of CERN. Williams Jones & Associates LLC increased its position in shares of Cerner Corp. by 17.8% in the second quarter. Williams Jones & Associates LLC now owns 18,347 shares of the company’s stock worth $1,075,000 after buying an additional 2,767 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Cerner Corp. during the second quarter worth approximately $712,000. Kentucky Retirement Systems purchased a new position in shares of Cerner Corp. during the second quarter worth approximately $1,499,000. Mason Street Advisors LLC purchased a new position in shares of Cerner Corp. during the second quarter worth approximately $2,375,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Cerner Corp. by 10.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,379 shares of the company’s stock worth $373,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.
Cerner Corp. Company Profile
Cerner Corporation is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations. Its segments include Domestic and Global. The Domestic segment includes the business activity in the United States.
To view Vetr’s full report, visit Vetr’s official website.
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