Wall Street brokerages predict that Cerner Co. (NASDAQ:CERN) will post earnings per share of $0.63 for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Cerner’s earnings. The highest EPS estimate is $0.64 and the lowest is $0.62. Cerner reported earnings of $0.61 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.3%. The firm is scheduled to report its next quarterly earnings results on Thursday, October 25th.
On average, analysts expect that Cerner will report full year earnings of $2.51 per share for the current fiscal year, with EPS estimates ranging from $2.46 to $2.53. For the next financial year, analysts forecast that the company will report earnings of $2.80 per share, with EPS estimates ranging from $2.70 to $3.00. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Cerner.
Cerner (NASDAQ:CERN) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Cerner had a net margin of 16.06% and a return on equity of 15.26%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the business earned $0.61 earnings per share.
A number of research firms have recently weighed in on CERN. Canaccord Genuity increased their price objective on Cerner from $64.00 to $71.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Stifel Nicolaus increased their price objective on Cerner from $62.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 25th. Jefferies Financial Group set a $68.00 price objective on Cerner and gave the company a “buy” rating in a research note on Friday, May 18th. ValuEngine raised Cerner from a “sell” rating to a “hold” rating in a research note on Saturday, June 16th. Finally, SunTrust Banks increased their price objective on Cerner to $65.00 and gave the company a “hold” rating in a research note on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $71.83.
Shares of NASDAQ:CERN traded down $0.66 during trading on Friday, reaching $64.23. 1,231,600 shares of the company traded hands, compared to its average volume of 2,277,875. The firm has a market cap of $21.29 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 2.05 and a beta of 0.97. Cerner has a 52-week low of $52.05 and a 52-week high of $73.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.83 and a current ratio of 2.85.
In other Cerner news, CAO Michael R. Battaglioli sold 4,000 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $67.02, for a total transaction of $268,080.00. Following the completion of the transaction, the chief accounting officer now owns 2,226 shares of the company’s stock, valued at $149,186.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Clifford W. Illig sold 45,000 shares of the firm’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $60.63, for a total value of $2,728,350.00. Following the transaction, the insider now directly owns 1,229,719 shares of the company’s stock, valued at approximately $74,557,862.97. The disclosure for this sale can be found here. Insiders sold 651,192 shares of company stock valued at $42,746,665 in the last ninety days. 4.71% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in CERN. Daiwa Securities Group Inc. lifted its position in Cerner by 14.9% during the first quarter. Daiwa Securities Group Inc. now owns 10,025 shares of the company’s stock valued at $581,000 after buying an additional 1,297 shares during the period. Sentry Investment Management LLC lifted its position in Cerner by 4.0% during the first quarter. Sentry Investment Management LLC now owns 23,112 shares of the company’s stock valued at $1,340,000 after buying an additional 896 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in Cerner by 134.2% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 158,136 shares of the company’s stock valued at $9,172,000 after buying an additional 90,606 shares during the period. Alps Advisors Inc. lifted its position in Cerner by 15.0% during the first quarter. Alps Advisors Inc. now owns 7,624 shares of the company’s stock valued at $442,000 after buying an additional 996 shares during the period. Finally, New York State Teachers Retirement System lifted its position in Cerner by 1.3% during the first quarter. New York State Teachers Retirement System now owns 460,773 shares of the company’s stock valued at $26,725,000 after buying an additional 6,011 shares during the period. 76.09% of the stock is owned by institutional investors and hedge funds.
Cerner Company Profile
Cerner Corporation provides health care information technology solutions and 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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