Cantor Fitzgerald analyst Steven Halper reiterated a Buy rating on Cerner Corp (CERN) yesterday and set a price target of $75. The company’s shares closed yesterday at $55.41.
Halper said:
“. We reiterate our Overweight rating on CERN shares and maintain our 12-month price target at $75. After the close on Cerner reported 4Q18 revenue and adjusted EPS that were a touch below our estimates. However, bookings were $1.96 billion, which was well within the company’s guidance range. The company provided its 2019 guidance, which on the surface appears reasonable and probably conservative. Although 2019 growth is not necessarily too exciting, we believe the company’s long-term growth potential is still attractive. Importantly, the company has initiated a quarterly cash dividend ($0.15 per share) in an effort to return cash to shareholders.”
According to TipRanks.com, Halper is a top 100 analyst with an average return of 20.5% and a 66.2% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Evolent Health.
Currently, the analyst consensus on Cerner Corp is a Moderate Buy with an average price target of $68.
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Cerner Corp’s market cap is currently $18.31B and has a P/E ratio of 22.16. The company has a Price to Book ratio of 3.60.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock.
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Cerner Corp. designs, develops, markets, installs, hosts and supports health care information technology, health care devices, hardware and content solutions for health care organizations and consumers. The company also provides value-added services, including implementation and training, remote hosting, operational management services, revenue cycle services, support and maintenance, health care data analysis, clinical process optimization, transaction processing, employer health centers, employee wellness programs and third party administrator services for employer-based health plans. It operates through the following segments: Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States. The Global segment includes revenue contributions and expenditures linked to business activity in Aruba, Australia, Austria, the Bahamas, Belgium, Bermuda, Brazil, Canada, Cayman Islands, Chile, Denmark, Egypt, England, Finland, France, Germany, Guam, India, Ireland, Kuwait, Luxembourg, Malaysia, Mexico, Netherlands, Norway, Portugal, Qatar, Romania, Saudi Arabia, Singapore, Slovakia, Spain, Sweden, Switzerland and the United Arab Emirates. The company was founded by Neal L. Patterson, Clifford W. Illig and Paul N. Gorup in 1979 and is headquartered in North Kansas City, MO.
