$1.43 Billion in Sales Expected for Cerner Co. (NASDAQ:CERN) This Quarter

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Equities research analysts forecast that Cerner Co. (NASDAQ:CERN) will announce sales of $1.43 billion for the current quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Cerner’s earnings. The lowest sales estimate is $1.41 billion and the highest is $1.45 billion. Cerner posted sales of $1.34 billion during the same quarter last year, which suggests a positive year over year growth rate of 6.7%. The firm is expected to announce its next quarterly earnings results on Thursday, October 24th.

On average, analysts expect that Cerner will report full-year sales of $5.73 billion for the current financial year, with estimates ranging from $5.67 billion to $5.79 billion. For the next financial year, analysts expect that the business will post sales of $6.07 billion, with estimates ranging from $5.88 billion to $6.22 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Cerner.

Cerner (NASDAQ:CERN) last issued its earnings results on Wednesday, July 24th. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Cerner had a net margin of 10.75% and a return on equity of 15.14%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 earnings per share.

A number of equities analysts have weighed in on the company. Deutsche Bank initiated coverage on Cerner in a report on Thursday, September 26th. They issued a “buy” rating and a $82.00 price target for the company. BidaskClub upgraded Cerner from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 25th. ValuEngine cut Cerner from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Canaccord Genuity increased their target price on Cerner from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, KeyCorp reiterated an “overweight” rating and set a $82.00 target price (up from $76.00) on shares of Cerner in a research note on Friday, August 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. Cerner presently has an average rating of “Buy” and an average price target of $75.19.

NASDAQ CERN traded up $0.77 on Friday, reaching $67.61. The company had a trading volume of 109,663 shares, compared to its average volume of 1,710,804. The firm has a market capitalization of $20.73 billion, a PE ratio of 30.59, a P/E/G ratio of 2.02 and a beta of 0.93. Cerner has a 1 year low of $48.78 and a 1 year high of $76.47. The firm has a 50-day moving average of $67.87 and a 200-day moving average of $68.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.52 and a quick ratio of 2.50.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 25th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Tuesday, September 24th. Cerner’s dividend payout ratio (DPR) is currently 32.58%.

In other Cerner news, VP Donald Trigg sold 29,423 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $67.72, for a total value of $1,992,525.56. Following the sale, the vice president now directly owns 256,354 shares of the company’s stock, valued at $17,360,292.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Nill sold 13,124 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $68.07, for a total value of $893,350.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 344,268 shares of company stock worth $23,243,010. Corporate insiders own 0.75% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CERN. Nuveen Asset Management LLC increased its position in Cerner by 28,932.0% in the second quarter. Nuveen Asset Management LLC now owns 2,380,911 shares of the company’s stock worth $174,521,000 after buying an additional 2,372,710 shares during the period. AQR Capital Management LLC raised its holdings in shares of Cerner by 166.4% in the 2nd quarter. AQR Capital Management LLC now owns 2,714,579 shares of the company’s stock worth $195,721,000 after purchasing an additional 1,695,766 shares during the period. Invesco Ltd. raised its holdings in shares of Cerner by 21.4% in the 2nd quarter. Invesco Ltd. now owns 5,931,690 shares of the company’s stock worth $434,793,000 after purchasing an additional 1,044,715 shares during the period. Man Group plc raised its holdings in shares of Cerner by 572.2% in the 2nd quarter. Man Group plc now owns 1,103,741 shares of the company’s stock worth $80,904,000 after purchasing an additional 939,552 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Cerner by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 33,776,244 shares of the company’s stock worth $2,475,799,000 after purchasing an additional 719,784 shares during the period. 82.66% of the stock is currently owned by hedge funds and other institutional investors.

About Cerner

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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