Morgan Stanley Reiterates “$49.00” Price Target for Cerner (CERN)

Morgan Stanley set a $49.00 price target on Cerner (NASDAQ:CERN) in a report published on Wednesday, April 10th, TipRanks reports. The firm currently has a sell rating on the stock.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Cerner from a sell rating to a hold rating in a report on Tuesday, March 26th. Cantor Fitzgerald reissued a buy rating and issued a $75.00 price objective on shares of Cerner in a research note on Tuesday, April 9th. Citigroup set a $77.00 price objective on shares of Cerner and gave the company a buy rating in a research note on Wednesday, April 10th. SunTrust Banks raised shares of Cerner from a hold rating to a buy rating and raised their price target for the stock from $60.00 to $76.00 in a research note on Wednesday, April 10th. Finally, BidaskClub raised shares of Cerner from a sell rating to a hold rating in a research note on Wednesday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $68.67.

NASDAQ:CERN traded up $0.46 during trading hours on Wednesday, reaching $68.47. 2,167,893 shares of the company’s stock were exchanged, compared to its average volume of 2,525,279. The stock has a market cap of $22.28 billion, a P/E ratio of 30.98, a P/E/G ratio of 2.04 and a beta of 1.03. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.58 and a quick ratio of 2.55. Cerner has a 1-year low of $48.78 and a 1-year high of $69.34.

Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.06. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.39 billion. Cerner had a net margin of 11.65% and a return on equity of 14.86%. Cerner’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 EPS. Sell-side analysts expect that Cerner will post 2.44 EPS for the current fiscal year.

In related news, Director R Halsey Wise purchased 7,600 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was acquired at an average price of $65.76 per share, for a total transaction of $499,776.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John J. Greisch purchased 9,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average price of $67.57 per share, with a total value of $608,130.00. The disclosure for this purchase can be found here. Company insiders own 4.71% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in CERN. Bank of New York Mellon Corp boosted its holdings in Cerner by 191,922.4% in the third quarter. Bank of New York Mellon Corp now owns 15,043,035 shares of the company’s stock worth $968,920,000 after purchasing an additional 15,035,201 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Cerner by 4,852.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,597,804 shares of the company’s stock valued at $69,000 after acquiring an additional 3,525,157 shares during the period. Norges Bank acquired a new position in shares of Cerner during the fourth quarter valued at $155,781,000. Parnassus Investments CA boosted its holdings in shares of Cerner by 36.5% during the fourth quarter. Parnassus Investments CA now owns 9,829,823 shares of the company’s stock valued at $515,476,000 after acquiring an additional 2,626,045 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Cerner by 5.4% during the fourth quarter. BlackRock Inc. now owns 22,078,769 shares of the company’s stock valued at $1,157,811,000 after acquiring an additional 1,122,165 shares during the period. 80.90% of the stock is owned by hedge funds and other institutional investors.

About Cerner

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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Analyst Recommendations for Cerner (NASDAQ:CERN)

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