Cerner (NASDAQ:CERN) had its target price increased by analysts at Royal Bank of Canada from $67.00 to $71.00 in a note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 18.45% from the stock’s current price.
A number of other brokerages also recently issued reports on CERN. Zacks Investment Research upgraded Cerner from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Wednesday, January 31st. BidaskClub downgraded Cerner from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Stifel Nicolaus restated a “hold” rating and issued a $71.00 price objective (up previously from $69.00) on shares of Cerner in a research note on Thursday, March 8th. Argus downgraded Cerner from a “buy” rating to a “hold” rating and upped their price objective for the company from $54.49 to $64.65 in a research note on Tuesday, March 13th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $80.00 price objective on shares of Cerner in a research note on Monday, March 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $68.74.
Shares of Cerner opened at $59.94 on Thursday, Marketbeat reports. The firm has a market capitalization of $19.72 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96. The company has a quick ratio of 2.93, a current ratio of 2.95 and a debt-to-equity ratio of 0.09. Cerner has a 1 year low of $52.05 and a 1 year high of $73.86.
In other news, Chairman David Brent Shafer sold 13,348 shares of the stock in a transaction on Monday, May 21st. The stock was sold at an average price of $61.36, for a total transaction of $819,033.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Clifford W. Illig sold 3,000 shares of the stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $58.32, for a total value of $174,960.00. Following the sale, the insider now directly owns 1,229,719 shares in the company, valued at approximately $71,717,212.08. The disclosure for this sale can be found here. Insiders have sold a total of 327,948 shares of company stock valued at $21,083,917 in the last quarter. 4.71% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Paloma Partners Management Co purchased a new stake in Cerner during the 4th quarter worth about $1,229,000. Geode Capital Management LLC lifted its holdings in Cerner by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 3,759,894 shares of the company’s stock worth $252,916,000 after purchasing an additional 98,444 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in Cerner during the 4th quarter worth about $6,585,000. Raymond James & Associates lifted its holdings in Cerner by 43.7% during the 4th quarter. Raymond James & Associates now owns 261,360 shares of the company’s stock worth $17,613,000 after purchasing an additional 79,436 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new stake in Cerner during the 4th quarter worth about $1,138,000. 79.30% of the stock is currently owned by institutional investors and hedge funds.
Cerner Corporation provides health care information technology solutions and 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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