Cerner (NASDAQ:CERN) Raised to “Outperform” at Leerink Swann

Leerink Swann upgraded shares of Cerner (NASDAQ:CERN) from a market perform rating to an outperform rating in a report published on Monday, October 29th, MarketBeat reports. They currently have $70.00 price objective on the stock. Leerink Swann also issued estimates for Cerner’s Q1 2019 earnings at $0.60 EPS, Q2 2019 earnings at $0.64 EPS, Q3 2019 earnings at $0.65 EPS and Q4 2019 earnings at $0.66 EPS.

A number of other equities research analysts also recently issued reports on the stock. Cantor Fitzgerald reduced their price target on shares of Cerner from $80.00 to $75.00 and set an overweight rating on the stock in a research note on Friday, October 26th. Barclays reduced their price target on shares of Cerner from $70.00 to $67.00 and set an equal weight rating on the stock in a research note on Friday, October 26th. Royal Bank of Canada downgraded shares of Cerner from an outperform rating to a sector perform rating and reduced their price target for the company from $72.00 to $54.00 in a research note on Friday, October 26th. Zacks Investment Research raised shares of Cerner from a sell rating to a hold rating in a research note on Wednesday, October 24th. Finally, BidaskClub raised shares of Cerner from a sell rating to a hold rating in a research note on Thursday, September 27th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $69.98.

Shares of Cerner stock traded up $0.30 on Monday, reaching $56.59. The company had a trading volume of 1,194,334 shares, compared to its average volume of 2,383,751. The company has a market capitalization of $18.55 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 1.84 and a beta of 0.96. Cerner has a 52-week low of $50.91 and a 52-week high of $73.43. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.60 and a current ratio of 2.63.

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

In other Cerner news, President Zane M. Burke sold 151,818 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $65.44, for a total value of $9,934,969.92. Following the sale, the president now directly owns 37,418 shares of the company’s stock, valued at approximately $2,448,633.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Zane M. Burke sold 283,539 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $63.68, for a total transaction of $18,055,763.52. Following the completion of the sale, the president now directly owns 59,539 shares in the company, valued at $3,791,443.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,071,496 shares of company stock worth $67,071,136. 4.71% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Morgan Stanley boosted its holdings in shares of Cerner by 25.4% in the 3rd quarter. Morgan Stanley now owns 3,201,690 shares of the company’s stock valued at $206,221,000 after buying an additional 649,256 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Cerner by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 1,536,718 shares of the company’s stock valued at $98,981,000 after buying an additional 34,838 shares in the last quarter. Standard Life Aberdeen plc boosted its holdings in shares of Cerner by 0.5% in the 3rd quarter. Standard Life Aberdeen plc now owns 753,876 shares of the company’s stock valued at $48,557,000 after buying an additional 4,120 shares in the last quarter. Sawgrass Asset Management LLC boosted its holdings in shares of Cerner by 49.9% in the 3rd quarter. Sawgrass Asset Management LLC now owns 456,112 shares of the company’s stock valued at $29,378,000 after buying an additional 151,933 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new position in shares of Cerner in the 3rd quarter valued at $1,359,000. 77.14% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Cerner (NASDAQ:CERN)

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