Trade Report: The Cerner Corp. (CERN) Decreased to Neutral at Robert W. Baird

The Cerner Corp. (CERN) Decreased to Neutral at Robert W. Baird

Cerner Corp. (NASDAQ:CERN) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued on Wednesday. They currently have a $58.00 target price on the stock, down from their previous target price of $68.00. Robert W. Baird’s target price suggests a potential upside of 14.87% from the company’s previous close.

Several other brokerages have also weighed in on CERN. Bank of America Corp. started coverage on Cerner Corp. in a research report on Monday, September 19th. They issued a “neutral” rating and a $67.00 price objective for the company. Zacks Investment Research upgraded Cerner Corp. from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Tuesday, October 4th. Raymond James Financial Inc. lowered Cerner Corp. from an “outperform” rating to a “market perform” rating and set a $64.57 price objective for the company. in a research report on Tuesday, July 5th. Barclays PLC raised their price target on Cerner Corp. from $55.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $67.00 price target on shares of Cerner Corp. in a research report on Friday, October 14th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cerner Corp. has an average rating of “Buy” and an average price target of $64.88.

Cerner Corp. (NASDAQ:CERN) traded down 0.04% on Wednesday, hitting $50.49. The stock had a trading volume of 1,292,900 shares. The company has a market cap of $17.14 billion, a P/E ratio of 26.70 and a beta of 1.11. Cerner Corp. has a 52-week low of $48.04 and a 52-week high of $67.50. The firm’s 50-day moving average is $55.35 and its 200-day moving average is $59.01.

Cerner Corp. (NASDAQ:CERN) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by $0.01. The business earned $1.19 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Cerner Corp. had a return on equity of 18.39% and a net margin of 13.85%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 earnings per share. Equities research analysts anticipate that Cerner Corp. will post $2.30 earnings per share for the current fiscal year.

In other Cerner Corp. news, Director Linda M. Dillman sold 6,000 shares of Cerner Corp. stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $64.68, for a total value of $388,080.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William D. Zollars sold 10,000 shares of Cerner Corp. stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $51.50, for a total value of $515,000.00. The disclosure for this sale can be found here. Corporate insiders own 13.20% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Johnson Financial Group Inc. raised its stake in shares of Cerner Corp. by 37.8% in the second quarter. Johnson Financial Group Inc. now owns 1,882 shares of the company’s stock worth $111,000 after buying an additional 516 shares in the last quarter. Mycio Wealth Partners LLC raised its stake in shares of Cerner Corp. by 33.5% in the second quarter. Mycio Wealth Partners LLC now owns 1,997 shares of the company’s stock worth $117,000 after buying an additional 501 shares in the last quarter. Alpha Windward LLC raised its stake in shares of Cerner Corp. by 2.2% in the second quarter. Alpha Windward LLC now owns 2,061 shares of the company’s stock worth $121,000 after buying an additional 44 shares in the last quarter. NN Investment Partners Holdings N.V. raised its stake in shares of Cerner Corp. by 16.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,085 shares of the company’s stock worth $122,000 after buying an additional 300 shares in the last quarter. Finally, Acrospire Investment Management LLC raised its stake in shares of Cerner Corp. by 5.0% in the second quarter. Acrospire Investment Management LLC now owns 2,100 shares of the company’s stock worth $123,000 after buying an additional 100 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors.

About Cerner Corp.

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