Equities analysts forecast that Cerner (NASDAQ:CERN) will report sales of $1.34 billion for the current fiscal 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 posted sales of $1.26 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.3%. The firm is expected to issue its next earnings results on Thursday, April 26th.
On average, analysts expect that Cerner will report full year sales of $5.54 billion for the current year, with estimates ranging from $5.45 billion to $5.61 billion. For the next fiscal year, analysts anticipate that the business will report sales of $6.01 billion per share, with estimates ranging from $5.88 billion to $6.16 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Cerner.
Cerner (NASDAQ:CERN) last issued its earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis.
Several research analysts have recently issued reports on the stock. SunTrust Banks lowered their target price on shares of Cerner from $68.00 to $2.82 and set a “hold” rating for the company in a report on Wednesday, February 7th. Cantor Fitzgerald lowered their target price on shares of Cerner from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, February 7th. Argus cut shares of Cerner from a “buy” rating to a “hold” rating and upped their target price for the company from $54.49 to $64.65 in a report on Tuesday, March 13th. BidaskClub cut shares of Cerner from a “sell” rating to a “strong sell” rating in a report on Thursday, March 15th. Finally, Evercore ISI assumed coverage on shares of Cerner in a report on Thursday, January 18th. They issued an “in-line” rating and a $77.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. Cerner presently has an average rating of “Hold” and an average target price of $67.42.
Shares of Cerner stock opened at $57.94 on Tuesday. Cerner has a 12-month low of $55.29 and a 12-month high of $73.86. The company has a quick ratio of 2.99, a current ratio of 3.01 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $18,879.08, a PE ratio of 26.34, a P/E/G ratio of 1.66 and a beta of 0.96.
In other Cerner news, Director William D. Zollars sold 4,100 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $62.16, for a total transaction of $254,856.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeffrey A. Townsend sold 230,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $61.94, for a total transaction of $14,246,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 541,800 shares of company stock valued at $34,353,860. 4.71% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in CERN. Dimensional Fund Advisors LP raised its position in Cerner by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 714,803 shares of the company’s stock worth $50,977,000 after buying an additional 17,603 shares during the last quarter. Janus Henderson Group PLC raised its position in Cerner by 5.2% during the 3rd quarter. Janus Henderson Group PLC now owns 634,137 shares of the company’s stock worth $45,224,000 after buying an additional 31,131 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Cerner by 15.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,222 shares of the company’s stock worth $1,159,000 after buying an additional 2,213 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Cerner during the 3rd quarter worth $128,000. Finally, Parametric Portfolio Associates LLC raised its position in Cerner by 14.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 632,386 shares of the company’s stock worth $45,102,000 after buying an additional 77,541 shares during the last quarter. Institutional investors own 78.71% of the company’s stock.
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Cerner Corporation provides health care information technology solutions and 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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