Cerner (NASDAQ:CERN) had its price target lifted by Deutsche Bank Aktiengesellschaft from $77.00 to $79.00 in a research report report published on Thursday morning, AnalystRatings.net reports. The brokerage currently has a buy rating on the stock.
Other research analysts also recently issued research reports about the company. Morgan Stanley increased their price target on Cerner from $58.00 to $62.00 and gave the company an underweight rating in a report on Friday, July 31st. Zacks Investment Research downgraded Cerner from a buy rating to a hold rating and set a $72.00 price target for the company. in a report on Tuesday, August 4th. SVB Leerink increased their price target on Cerner from $78.00 to $79.00 and gave the company an outperform rating in a report on Thursday. Royal Bank of Canada reissued a buy rating and issued a $80.00 price target on shares of Cerner in a report on Thursday, July 30th. Finally, Jefferies Financial Group restated a buy rating and set a $88.00 price objective on shares of Cerner in a research note on Tuesday, August 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Cerner has a consensus rating of Hold and a consensus price target of $77.22.
Shares of NASDAQ CERN traded down $0.12 on Thursday, hitting $70.36. The company had a trading volume of 21,607 shares, compared to its average volume of 2,085,099. Cerner has a 12-month low of $53.08 and a 12-month high of $80.90. The business has a 50 day moving average of $71.69 and a two-hundred day moving average of $70.62. The company has a quick ratio of 2.02, a current ratio of 2.04 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $21.52 billion, a P/E ratio of 42.46, a PEG ratio of 2.72 and a beta of 0.79.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 13th. Stockholders of record on Friday, September 25th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Thursday, September 24th. Cerner’s payout ratio is 29.88%.
In other news, Director Gerald E. Bisbee, Jr. sold 7,456 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $69.86, for a total transaction of $520,876.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of Cerner by 2.0% during the 1st quarter. State Street Corp now owns 14,713,553 shares of the company’s stock worth $926,807,000 after purchasing an additional 291,850 shares during the period. Bank of New York Mellon Corp grew its holdings in Cerner by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,691,468 shares of the company’s stock worth $1,007,099,000 after buying an additional 188,613 shares in the last quarter. Morgan Stanley grew its holdings in Cerner by 31.2% in the 1st quarter. Morgan Stanley now owns 2,868,059 shares of the company’s stock worth $180,660,000 after buying an additional 682,655 shares in the last quarter. Veritas Investment Management LLP grew its holdings in Cerner by 35.1% in the 2nd quarter. Veritas Investment Management LLP now owns 1,645,330 shares of the company’s stock worth $112,738,000 after buying an additional 427,800 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in Cerner by 2.6% in the 2nd quarter. California Public Employees Retirement System now owns 1,644,278 shares of the company’s stock worth $112,715,000 after buying an additional 42,397 shares in the last quarter. Institutional investors and hedge funds own 83.30% of the company’s stock.
Cerner Corporation, together with its subsidiaries, 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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