Cerner Co. (CERN) Expected to Post Quarterly Sales of $1.33 Billion

Brokerages predict that Cerner Co. (NASDAQ:CERN) will announce $1.33 billion in sales for the current quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Cerner’s earnings, with the lowest sales estimate coming in at $1.31 billion and the highest estimate coming in at $1.35 billion. Cerner reported sales of $1.26 billion during the same quarter last year, which indicates a positive year over year growth rate of 5.6%. The firm is expected to report its next earnings report on Thursday, February 8th.

On average, analysts expect that Cerner will report full-year sales of $1.33 billion for the current fiscal year, with estimates ranging from $5.14 billion to $5.18 billion. For the next year, analysts expect that the business will report sales of $5.59 billion per share, with estimates ranging from $5.51 billion to $5.65 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Cerner.

Cerner (NASDAQ:CERN) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.01). The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Cerner had a net margin of 13.37% and a return on equity of 18.03%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $0.59 earnings per share.

Several analysts recently weighed in on CERN shares. Royal Bank of Canada started coverage on Cerner in a research note on Tuesday, September 19th. They issued a “top pick” rating and a $84.00 price objective on the stock. KeyCorp reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Cerner in a research note on Friday, September 22nd. Zacks Investment Research lowered Cerner from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $77.00 price objective on shares of Cerner in a research note on Tuesday, October 10th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $77.00 price objective on shares of Cerner in a research note on Thursday, October 12th. Fifteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Cerner has a consensus rating of “Hold” and a consensus price target of $69.94.

In other news, Chairman Clifford W. Illig sold 530,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $65.54, for a total transaction of $34,736,200.00. Following the completion of the transaction, the chairman now directly owns 1,229,719 shares in the company, valued at $80,595,783.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Zane M. Burke sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $70.00, for a total value of $3,500,000.00. The disclosure for this sale can be found here. Insiders have sold 788,000 shares of company stock worth $52,190,800 over the last three months. Insiders own 13.11% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Laurel Wealth Advisors Inc. raised its position in shares of Cerner by 0.6% during the second quarter. Laurel Wealth Advisors Inc. now owns 3,909 shares of the company’s stock worth $259,000 after acquiring an additional 24 shares during the last quarter. Advisory Services Network LLC raised its position in shares of Cerner by 4.4% during the second quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after acquiring an additional 70 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Cerner by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,842 shares of the company’s stock worth $1,452,000 after acquiring an additional 74 shares during the last quarter. EagleClaw Capital Managment LLC raised its position in shares of Cerner by 0.4% during the second quarter. EagleClaw Capital Managment LLC now owns 26,050 shares of the company’s stock worth $1,734,000 after acquiring an additional 100 shares during the last quarter. Finally, Gyroscope Capital Management Group LLC raised its position in shares of Cerner by 6.5% during the second quarter. Gyroscope Capital Management Group LLC now owns 4,025 shares of the company’s stock worth $268,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 81.82% of the company’s stock.

Cerner (NASDAQ CERN) traded down $0.06 during trading hours on Friday, reaching $69.01. The company had a trading volume of 1,022,600 shares, compared to its average volume of 1,142,167. The firm has a market capitalization of $23,070.00, a price-to-earnings ratio of 34.33, a PEG ratio of 2.07 and a beta of 0.94. The company has a quick ratio of 2.75, a current ratio of 2.77 and a debt-to-equity ratio of 0.11. Cerner has a fifty-two week low of $47.09 and a fifty-two week high of $73.86.

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About Cerner

Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.

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