In a report released today, Steven Halper from Cantor Fitzgerald reiterated a Buy rating on Cerner Corp (CERN), with a price target of $75. The company’s shares closed on Friday at $57.57.
Halper wrote:
“. We reiterate our Overweight rating on CERN shares and maintain our 12-month price target of $75. Last week, we hosted a series of investor meetings with management. Key areas of focus included the underlying demand for products and services, Cerner’s efforts to increase margins, the implementation of the VA contract and capital deployment. We maintain our view that, although 2018 and 2019 growth is not necessarily too exciting, the shares do not reflect the company’s long-term growth potential.”
According to TipRanks.com, Halper is a top 25 analyst with an average return of 22.1% and a 71.5% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Cerner Corp has an analyst consensus of Moderate Buy, with a price target consensus of $68.67, representing a 19.3% upside. In a report issued on October 29, Leerink Partners also upgraded the stock to Buy with a $70 price target.
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The company has a one-year high of $73.43 and a one-year low of $50.91. Currently, Cerner Corp has an average volume of 1.88M.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2018, Zane Burke, the Former President of CERN sold 381,139 shares for a total of $24,413,428.
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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.
