Cerner Co. (CERN) Expected to Earn FY2017 Earnings of $2.24 Per Share

Cerner Co. (NASDAQ:CERN) – Research analysts at Leerink Swann reduced their FY2017 earnings per share estimates for shares of Cerner in a report issued on Thursday. Leerink Swann analyst D. Larsen now forecasts that the company will earn $2.24 per share for the year, down from their prior forecast of $2.26. Leerink Swann currently has a “Hold” rating on the stock. Leerink Swann also issued estimates for Cerner’s Q4 2017 earnings at $0.57 EPS, Q3 2018 earnings at $0.61 EPS and Q4 2018 earnings at $0.61 EPS.

Other equities research analysts also recently issued research reports about the company. Evercore ISI assumed coverage on Cerner in a report on Thursday. They set an “in-line” rating and a $77.00 price objective for the company. Jefferies Group set a $79.00 price objective on Cerner and gave the company a “buy” rating in a report on Friday, October 13th. SunTrust Banks restated a “buy” rating and set a $75.00 price objective on shares of Cerner in a report on Monday, October 30th. Robert W. Baird reiterated a “buy” rating on shares of Cerner in a report on Wednesday, January 3rd. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $75.00 price target on shares of Cerner in a report on Wednesday, November 29th. Seventeen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Cerner has an average rating of “Hold” and an average price target of $70.21.

Shares of Cerner (NASDAQ:CERN) opened at $68.91 on Monday. The company has a market capitalization of $22,910.00, a P/E ratio of 34.28, a PEG ratio of 2.05 and a beta of 0.94. Cerner has a 1-year low of $50.33 and a 1-year high of $73.86. The company has a current ratio of 2.77, a quick ratio of 2.75 and a debt-to-equity ratio of 0.11.

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

In other news, CEO Clifford W. Illig sold 140,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $65.52, for a total transaction of $9,172,800.00. Following the transaction, the chief executive officer now owns 1,229,719 shares of the company’s stock, valued at approximately $80,571,188.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael R. Battaglioli sold 4,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $69.89, for a total value of $279,560.00. Following the transaction, the vice president now directly owns 4,000 shares in the company, valued at approximately $279,560. The disclosure for this sale can be found here. In the last three months, insiders sold 788,000 shares of company stock worth $52,190,800. Insiders own 13.11% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Laurel Wealth Advisors Inc. lifted its position in shares of Cerner by 0.6% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,909 shares of the company’s stock valued at $259,000 after buying an additional 24 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Cerner by 4.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock worth $110,000 after purchasing an additional 70 shares in the last quarter. EagleClaw Capital Managment LLC lifted its holdings in Cerner by 0.4% during the 2nd quarter. EagleClaw Capital Managment LLC now owns 26,050 shares of the company’s stock worth $1,734,000 after purchasing an additional 100 shares in the last quarter. Gyroscope Capital Management Group LLC lifted its holdings in Cerner by 6.5% during the 2nd quarter. Gyroscope Capital Management Group LLC now owns 4,025 shares of the company’s stock worth $268,000 after purchasing an additional 246 shares in the last quarter. Finally, Frontier Wealth Management LLC lifted its holdings in Cerner by 0.4% during the 2nd quarter. Frontier Wealth Management LLC now owns 66,108 shares of the company’s stock worth $4,394,000 after purchasing an additional 265 shares in the last quarter. 81.83% of the stock is currently owned by hedge funds and other institutional investors.

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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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