Wall Street analysts forecast that Cerner Co. (NASDAQ:CERN) will announce $1.43 billion in sales for the current quarter, according to Zacks. Ten analysts have issued estimates for Cerner’s earnings, with the lowest sales estimate coming in at $1.41 billion and the highest estimate coming in at $1.45 billion. Cerner reported sales of $1.34 billion during the same quarter last year, which would suggest a positive year over year growth rate of 6.7%. The company is scheduled to announce its next quarterly earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Cerner will report full-year sales of $5.73 billion for the current financial year, with estimates ranging from $5.68 billion to $5.79 billion. For the next fiscal year, analysts anticipate that the company will post sales of $6.09 billion, with estimates ranging from $5.96 billion to $6.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Cerner.
Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.44 billion. Cerner had a return on equity of 15.14% and a net margin of 10.75%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 earnings per share.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Cerner from a “buy” rating to a “hold” rating and set a $77.00 price target on the stock. in a research report on Monday, July 29th. ValuEngine raised shares of Cerner from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Canaccord Genuity boosted their price objective on shares of Cerner from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Piper Jaffray Companies boosted their price objective on shares of Cerner from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Citigroup boosted their price objective on shares of Cerner from $77.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $73.79.
In other Cerner news, COO Michael Nill sold 244,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $69.42, for a total value of $16,938,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William D. Zollars sold 1,400 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $72.11, for a total transaction of $100,954.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 289,500 shares of company stock worth $20,225,008. 0.75% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the business. Acropolis Investment Management LLC increased its position in Cerner by 2.0% during the second quarter. Acropolis Investment Management LLC now owns 7,494 shares of the company’s stock worth $549,000 after purchasing an additional 148 shares during the last quarter. Advisor Partners LLC grew its stake in Cerner by 2.2% during the second quarter. Advisor Partners LLC now owns 7,061 shares of the company’s stock worth $518,000 after buying an additional 154 shares during the period. Destination Wealth Management grew its stake in Cerner by 3.7% during the second quarter. Destination Wealth Management now owns 5,208 shares of the company’s stock worth $382,000 after buying an additional 187 shares during the period. Coastal Investment Advisors Inc. grew its stake in Cerner by 16.3% during the second quarter. Coastal Investment Advisors Inc. now owns 1,426 shares of the company’s stock worth $104,000 after buying an additional 200 shares during the period. Finally, Berman Capital Advisors LLC grew its stake in Cerner by 115.3% during the second quarter. Berman Capital Advisors LLC now owns 381 shares of the company’s stock worth $27,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds own 81.87% of the company’s stock.
Shares of NASDAQ:CERN opened at $72.03 on Monday. The company has a market capitalization of $22.87 billion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 2.06 and a beta of 0.92. Cerner has a 52 week low of $48.78 and a 52 week high of $76.47. The company has a quick ratio of 2.50, a current ratio of 2.52 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $72.73 and a 200 day moving average of $65.82.
The firm also recently declared a special dividend, which was paid on Friday, July 26th. Shareholders of record on Tuesday, June 18th were issued a $0.18 dividend. The ex-dividend date was Monday, June 17th. Cerner’s payout ratio is 32.58%.
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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