Cerner (NASDAQ:CERN) Coverage Initiated at Citigroup
Citigroup assumed coverage on shares of Cerner (NASDAQ:CERN) in a report issued on Thursday, January 4th, The Fly reports. The brokerage issued a neutral rating on the stock.
Several other equities research analysts also recently commented on CERN. Robert W. Baird reaffirmed a buy rating on shares of Cerner in a report on Wednesday, January 3rd. Zacks Investment Research raised Cerner from a sell rating to a hold rating in a research note on Tuesday, December 26th. BidaskClub lowered Cerner from a buy rating to a hold rating in a research report on Friday, December 22nd. Cantor Fitzgerald reaffirmed a buy rating and issued a $75.00 target price on shares of Cerner in a research report on Wednesday, November 29th. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $70.00 target price on shares of Cerner in a research report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $70.21.
Shares of Cerner (NASDAQ CERN) opened at $68.73 on Thursday. Cerner has a twelve month low of $51.26 and a twelve month high of $73.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75. The firm has a market capitalization of $22,803.66, a P/E ratio of 30.35, a PEG ratio of 2.04 and a beta of 0.94.
In other Cerner news, CEO Clifford W. Illig sold 140,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $65.52, for a total transaction of $9,172,800.00. Following the transaction, the chief executive officer now owns 1,229,719 shares of the company’s stock, valued at $80,571,188.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Marc G. Naughton sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $70.64, for a total value of $4,238,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 788,000 shares of company stock worth $52,190,800. Corporate insiders own 13.11% of the company’s stock.
Several hedge funds have recently modified their holdings of CERN. Advisory Services Network LLC lifted its stake in shares of Cerner by 4.4% in the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after acquiring an additional 70 shares during the last quarter. Acrospire Investment Management LLC lifted its position in Cerner by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock valued at $120,000 after acquiring an additional 900 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Cerner in the 3rd quarter valued at about $121,000. Cerebellum GP LLC bought a new position in shares of Cerner during the 4th quarter worth approximately $127,000. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Cerner during the 3rd quarter worth approximately $128,000. Institutional investors and hedge funds own 81.92% of the company’s stock.
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Cerner Company Profile
Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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