Cerner Co. (CERN) to Post FY2018 Earnings of $2.43 Per Share, SunTrust Banks Forecasts

Cerner Co. (NASDAQ:CERN) – SunTrust Banks cut their FY2018 earnings per share estimates for Cerner in a report issued on Wednesday. SunTrust Banks analyst S. Draper now forecasts that the company will post earnings of $2.43 per share for the year, down from their prior forecast of $2.47. SunTrust Banks currently has a “Hold” rating and a $2.82 price target on the stock. SunTrust Banks also issued estimates for Cerner’s FY2019 earnings at $2.64 EPS.

Several other brokerages also recently commented on CERN. Zacks Investment Research downgraded shares of Cerner from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Evercore ISI started coverage on shares of Cerner in a research report on Thursday, January 18th. They set an “in-line” rating and a $77.00 price objective on the stock. BidaskClub downgraded shares of Cerner from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Robert W. Baird raised shares of Cerner from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $67.00 to $76.00 in a research report on Tuesday, October 31st. Finally, Royal Bank of Canada reissued a “buy” rating and set a $76.00 price objective on shares of Cerner in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $67.05.

Shares of Cerner (NASDAQ CERN) opened at $61.31 on Monday. Cerner has a 1 year low of $51.26 and a 1 year high of $73.86. The company has a market cap of $20,380.36, a PE ratio of 27.62, a P/E/G ratio of 1.84 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.99 and a current ratio of 3.01.

Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.03). Cerner had a net margin of 16.86% and a return on equity of 16.82%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year.

Several institutional investors and hedge funds have recently bought and sold shares of CERN. APG Asset Management N.V. boosted its holdings in shares of Cerner by 153.1% in the fourth quarter. APG Asset Management N.V. now owns 1,121,956 shares of the company’s stock worth $62,965,000 after buying an additional 678,700 shares during the last quarter. Sawgrass Asset Management LLC purchased a new position in shares of Cerner in the third quarter worth approximately $39,946,000. BlackRock Inc. boosted its holdings in shares of Cerner by 2.2% in the fourth quarter. BlackRock Inc. now owns 19,519,304 shares of the company’s stock worth $1,315,406,000 after buying an additional 420,942 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Cerner in the second quarter worth approximately $310,000. Finally, State of Wisconsin Investment Board boosted its holdings in shares of Cerner by 68.2% in the fourth quarter. State of Wisconsin Investment Board now owns 716,239 shares of the company’s stock worth $48,267,000 after buying an additional 290,527 shares during the last quarter. 81.58% of the stock is currently owned by institutional investors.

In other news, President Zane M. Burke sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $70.00, for a total transaction of $3,500,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Clifford W. Illig sold 140,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $65.52, for a total transaction of $9,172,800.00. Following the sale, the chief executive officer now directly owns 1,229,719 shares in the company, valued at approximately $80,571,188.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 784,000 shares of company stock worth $51,926,960. Insiders own 13.11% of the company’s stock.

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Cerner Company Profile

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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