Morgan Stanley Lowers Cerner (CERN) Price Target to $68.00

Cerner (NASDAQ:CERN) had its target price cut by Morgan Stanley from $72.00 to $68.00 in a report published on Monday morning. They currently have an equal weight rating on the stock.

A number of other research firms have also recently commented on CERN. Zacks Investment Research cut Cerner from a hold rating to a sell rating in a research report on Monday, October 8th. Barclays reduced their price objective on Cerner from $70.00 to $67.00 and set an equal weight rating for the company in a research report on Friday, October 26th. Cantor Fitzgerald reiterated a buy rating and set a $80.00 price objective on shares of Cerner in a research report on Wednesday, September 12th. BidaskClub cut Cerner from a hold rating to a sell rating in a research report on Friday, August 31st. Finally, KeyCorp upped their price objective on Cerner from $74.00 to $76.00 and gave the company an overweight rating in a research report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. Cerner has a consensus rating of Hold and an average price target of $69.86.

CERN stock opened at $54.87 on Monday. Cerner has a 1-year low of $50.91 and a 1-year high of $73.43. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.63 and a quick ratio of 2.60. The firm has a market capitalization of $18.49 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 1.83 and a beta of 0.96.



Cerner (NASDAQ:CERN) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Cerner had a return on equity of 14.73% and a net margin of 15.72%. As a group, research analysts anticipate that Cerner will post 2.22 EPS for the current fiscal year.

In other Cerner news, President Zane M. Burke sold 381,139 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $64.05, for a total value of $24,411,952.95. Following the completion of the sale, the president now owns 59,539 shares in the company, valued at $3,813,472.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Clifford W. Illig sold 250,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $57.53, for a total value of $14,382,500.00. Following the completion of the sale, the insider now owns 1,229,719 shares of the company’s stock, valued at approximately $70,745,734.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,354,678 shares of company stock valued at $82,344,416. Company insiders own 4.71% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Icon Wealth Partners LLC purchased a new stake in Cerner in the second quarter worth about $102,000. Moneta Group Investment Advisors LLC increased its position in Cerner by 3,608.5% in the second quarter. Moneta Group Investment Advisors LLC now owns 31,411 shares of the company’s stock worth $124,000 after buying an additional 30,564 shares in the last quarter. CWM LLC increased its position in Cerner by 880.5% in the second quarter. CWM LLC now owns 2,510 shares of the company’s stock worth $150,000 after buying an additional 2,254 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Cerner by 155.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,347 shares of the company’s stock worth $151,000 after acquiring an additional 1,429 shares during the period. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Cerner by 85.4% in the second quarter. Qube Research & Technologies Ltd now owns 2,898 shares of the company’s stock worth $173,000 after acquiring an additional 1,335 shares during the period. Institutional investors and hedge funds own 77.70% of the company’s stock.

Cerner Company Profile

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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