Cerner Corp. (NASDAQ:CERN) was downgraded by investment analysts at Bank of America Corp. from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday.
Several other equities analysts have also weighed in on the stock. Canaccord Genuity restated a “buy” rating and issued a $68.00 price objective on shares of Cerner Corp. in a report on Sunday, September 11th. Vetr lowered shares of Cerner Corp. from a “hold” rating to a “sell” rating and set a $64.78 target price on the stock. in a report on Monday, August 8th. Stifel Nicolaus started coverage on shares of Cerner Corp. in a report on Wednesday, August 31st. They issued a “hold” rating on the stock. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $81.00 target price on shares of Cerner Corp. in a report on Monday, August 29th. Finally, Zacks Investment Research lowered shares of Cerner Corp. from a “hold” rating to a “sell” rating in a report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $64.88.
Shares of Cerner Corp. (NASDAQ:CERN) opened at 50.49 on Monday. The company has a market capitalization of $17.14 billion, a PE ratio of 26.70 and a beta of 1.11. Cerner Corp. has a one year low of $48.04 and a one year high of $67.50. The company has a 50-day moving average of $55.35 and a 200-day moving average of $59.01.
Cerner Corp. (NASDAQ:CERN) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cerner Corp. had a net margin of 13.85% and a return on equity of 18.39%. The business earned $1.19 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts anticipate that Cerner Corp. will post $2.30 earnings per share for the current year.
In other Cerner Corp. news, Director William D. Zollars sold 10,000 shares of Cerner Corp. stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $51.50, for a total value of $515,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda M. Dillman sold 6,000 shares of Cerner Corp. stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $64.68, for a total transaction of $388,080.00. The disclosure for this sale can be found here. 13.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Eachwin Capital LP acquired a new stake in shares of Cerner Corp. during the first quarter valued at $419,000. Chilton Capital Management LLC boosted its position in shares of Cerner Corp. by 0.4% in the first quarter. Chilton Capital Management LLC now owns 93,722 shares of the company’s stock valued at $4,964,000 after buying an additional 339 shares during the last quarter. Steinberg Global Asset Management purchased a new position in shares of Cerner Corp. during the first quarter valued at approximately $510,000. Halsey Associates Inc. CT boosted its position in shares of Cerner Corp. by 49.0% in the first quarter. Halsey Associates Inc. CT now owns 121,820 shares of the company’s stock valued at $6,452,000 after buying an additional 40,055 shares during the last quarter. Finally, Bellevue Group AG purchased a new position in shares of Cerner Corp. during the first quarter valued at approximately $3,178,000. Institutional investors and hedge funds own 82.78% of the company’s stock.
Cerner Corp. Company Profile