Cerner Co. (NASDAQ:CERN) – Investment analysts at SunTrust Banks lifted their FY2017 earnings per share (EPS) estimates for shares of Cerner in a note issued to investors on Tuesday, Zacks Investment Research reports. SunTrust Banks analyst S. Draper now expects that the company will post earnings of $2.25 per share for the year, up from their previous forecast of $2.23. SunTrust Banks has a “Buy” rating and a $75.00 price target on the stock. SunTrust Banks also issued estimates for Cerner’s Q4 2017 earnings at $0.58 EPS, FY2018 earnings at $2.47 EPS and FY2019 earnings at $2.76 EPS.
Cerner (NASDAQ:CERN) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Cerner had a net margin of 13.37% and a return on equity of 18.03%. Cerner’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share.
Several other brokerages have also recently weighed in on CERN. Zacks Investment Research upgraded Cerner from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Tuesday. Cantor Fitzgerald upped their price target on Cerner to $83.00 and gave the company an “overweight” rating in a research report on Friday, January 5th. Citigroup started coverage on Cerner in a research report on Thursday, January 4th. They set a “neutral” rating on the stock. Robert W. Baird reiterated a “buy” rating on shares of Cerner in a research report on Wednesday, January 3rd. Finally, BidaskClub cut Cerner from a “buy” rating to a “hold” rating in a research report on Friday, December 22nd. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.83.
Cerner (NASDAQ CERN) traded up $0.26 during midday trading on Friday, reaching $72.90. 1,750,724 shares of the company’s stock traded hands, compared to its average volume of 1,730,000. The stock has a market capitalization of $24,230.00, a P/E ratio of 36.27, a PEG ratio of 2.18 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 debt-to-equity ratio of 0.11, a quick ratio of 2.75 and a current ratio of 2.77.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Cerner by 3.1% during the second quarter. Vanguard Group Inc. now owns 29,296,545 shares of the company’s stock valued at $1,947,341,000 after purchasing an additional 876,919 shares during the period. BlackRock Inc. boosted its stake in shares of Cerner by 0.8% during the second quarter. BlackRock Inc. now owns 18,436,042 shares of the company’s stock valued at $1,225,441,000 after purchasing an additional 137,320 shares during the period. FMR LLC boosted its stake in shares of Cerner by 0.8% during the second quarter. FMR LLC now owns 5,652,931 shares of the company’s stock valued at $375,750,000 after purchasing an additional 43,521 shares during the period. Capital International Investors boosted its stake in shares of Cerner by 0.3% during the third quarter. Capital International Investors now owns 4,851,296 shares of the company’s stock valued at $345,994,000 after purchasing an additional 12,178 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Cerner by 62.4% during the second quarter. American Century Companies Inc. now owns 3,929,394 shares of the company’s stock valued at $261,187,000 after purchasing an additional 1,510,288 shares during the period. Institutional investors and hedge funds own 81.82% of the company’s stock.
In other Cerner news, Chairman Clifford W. Illig sold 4,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $65.96, for a total transaction of $263,840.00. Following the transaction, the chairman now directly owns 1,229,719 shares in the company, valued at $81,112,265.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marc G. Naughton sold 60,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $70.64, for a total transaction of $4,238,400.00. 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 quarter. Company insiders own 13.11% of the company’s stock.
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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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