Argus upgraded shares of Cerner (NASDAQ:CERN) from a hold rating to a buy rating in a report released on Thursday, 24/7 WallStreet reports.
Other analysts also recently issued research reports about the stock. Canaccord Genuity increased their price objective on shares of Cerner from $77.00 to $80.00 and gave the company a buy rating in a report on Thursday, July 25th. KeyCorp reissued an overweight rating and issued a $82.00 price target (up previously from $76.00) on shares of Cerner in a research note on Friday, August 16th. Cantor Fitzgerald increased their price target on shares of Cerner from $75.00 to $85.00 and gave the company an overweight rating in a research note on Monday, July 8th. Citigroup increased their price target on shares of Cerner from $77.00 to $84.00 and gave the company a buy rating in a research note on Thursday, July 25th. Finally, Bank of America increased their price target on shares of Cerner from $70.00 to $77.00 and gave the company a buy rating in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $74.73.
CERN stock opened at $67.93 on Thursday. The company has a market cap of $22.82 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.05 and a beta of 0.92. The company has a current ratio of 2.52, a quick ratio of 2.50 and a debt-to-equity ratio of 0.22. Cerner has a 12 month low of $48.78 and a 12 month high of $76.47. The firm has a 50-day moving average of $72.56 and a two-hundred day moving average of $65.98.
The business also recently disclosed a special dividend, which was paid on Friday, July 26th. Investors of record on Tuesday, June 18th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 17th. Cerner’s payout ratio is currently 32.58%.
In related news, COO Michael Nill sold 244,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $69.42, for a total transaction of $16,938,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Randy D. Sims sold 40,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $72.45, for a total transaction of $2,898,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 324,912 shares of company stock valued at $22,776,268 in the last ninety days. 0.75% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of CERN. Nuveen Asset Management LLC boosted its position in shares of Cerner by 28,932.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,380,911 shares of the company’s stock worth $174,521,000 after purchasing an additional 2,372,710 shares during the period. BlackRock Inc. lifted its holdings in Cerner by 8.4% during the 1st quarter. BlackRock Inc. now owns 23,927,386 shares of the company’s stock worth $1,368,887,000 after buying an additional 1,848,617 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Cerner by 166.4% during the 2nd quarter. AQR Capital Management LLC now owns 2,714,579 shares of the company’s stock worth $195,721,000 after buying an additional 1,695,766 shares in the last quarter. Parnassus Investments CA lifted its holdings in Cerner by 15.6% during the 1st quarter. Parnassus Investments CA now owns 11,361,322 shares of the company’s stock worth $649,981,000 after buying an additional 1,531,499 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Cerner by 21.4% during the 2nd quarter. Invesco Ltd. now owns 5,931,690 shares of the company’s stock worth $434,793,000 after buying an additional 1,044,715 shares in the last quarter. 81.87% of the stock is owned by hedge funds and other institutional investors.
Cerner Corporation provides health care information technology solutions and tech-enabled 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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