Shares of Cerner Co. (NASDAQ:CERN) have earned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $67.00.
A number of research analysts recently issued reports on CERN shares. Zacks Investment Research downgraded Cerner from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub upgraded Cerner from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Finally, Morgan Stanley reduced their price target on Cerner from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, December 3rd.
A number of large investors have recently made changes to their positions in the stock. WINTON GROUP Ltd purchased a new position in shares of Cerner during the 3rd quarter worth approximately $213,000. MML Investors Services LLC grew its holdings in shares of Cerner by 66.0% during the 3rd quarter. MML Investors Services LLC now owns 23,779 shares of the company’s stock worth $1,532,000 after acquiring an additional 9,456 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Cerner by 155.7% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,347 shares of the company’s stock worth $151,000 after acquiring an additional 1,429 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Cerner by 191,922.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 15,043,035 shares of the company’s stock worth $968,920,000 after acquiring an additional 15,035,201 shares during the period. Finally, Martingale Asset Management L P grew its holdings in shares of Cerner by 92.6% during the 3rd quarter. Martingale Asset Management L P now owns 113,667 shares of the company’s stock worth $7,322,000 after acquiring an additional 54,643 shares during the period. Institutional investors own 79.77% of the company’s stock.
Cerner (NASDAQ:CERN) last released its earnings results on Tuesday, February 5th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. Cerner had a return on equity of 14.84% and a net margin of 11.74%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the company posted $0.58 EPS. Cerner’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts forecast that Cerner will post 2.37 earnings per share for the current year.
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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