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Fly News Breaks for August 23, 2019
Aug 23, 2019 | 08:57 EDT
Jefferies analyst David Windley assumed coverage of Cerner (CERN) with a Hold rating, down from the firm's prior Buy rating, stating that he thinks spending for hospital IT is challenged after years of aggressive implementations. He believes the market understands Cerner's path well and believes the company's margin targets "require some heavy lifting," Windley stated. He also assumed coverage of NextGen Healthcare (NXGN) with an unchanged Hold rating and assumed coverage of Allscripts (MDRX) and Vocera (VCRA) with unchanged Buy ratings. Windley set a $75 price target on Cerner shares, up from the firm's prior $69 target.
News For CERN;NXGN;MDRX;VCRA From the Last 2 Days
Oct 18, 2019 | 09:07 EDT
Cerner announced a definitive agreement to acquire AbleVets-a strategic IT consulting and engineering firm-as a wholly-owned subsidiary. The acquisition of the Washington, DC area-based company will provide Cerner even greater scale and technical expertise in designing and implementing modernization solutions, particularly in the federal space. The companies expect to complete the transaction in the fourth quarter. "AbleVets has been a trusted partner to Cerner and is providing critical support to our federal programs," said Travis Dalton, president, Cerner Government Services. "Integrating the team into our business is a natural next step of our relationship. We expect AbleVets' technical expertise and execution in solving complex problems will accelerate Cerner's success in providing integrated, seamless care for Veterans, Service members and their families."