Cerner Co. (NASDAQ:CERN) Expected to Announce Quarterly Sales of $1.51 Billion

Wall Street brokerages predict that Cerner Co. (NASDAQ:CERNGet Rating) will announce $1.51 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Cerner’s earnings. The highest sales estimate is $1.52 billion and the lowest is $1.51 billion. Cerner posted sales of $1.46 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.4%. The firm is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Cerner will report full-year sales of $6.02 billion for the current fiscal year, with estimates ranging from $5.99 billion to $6.08 billion. For the next year, analysts anticipate that the firm will report sales of $6.30 billion, with estimates ranging from $6.25 billion to $6.35 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Cerner.

Cerner (NASDAQ:CERNGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. Cerner had a return on equity of 22.86% and a net margin of 10.15%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the business earned $0.76 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year.

Several research analysts have commented on the company. Argus downgraded Cerner from a “buy” rating to a “hold” rating in a research report on Monday, April 11th. StockNews.com assumed coverage on Cerner in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $87.38.

In other Cerner news, CAO Michael R. Battaglioli sold 5,288 shares of the company’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $94.09, for a total value of $497,547.92. Following the sale, the chief accounting officer now directly owns 3,412 shares in the company, valued at $321,035.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tracy L. Platt sold 7,769 shares of the company’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $93.40, for a total value of $725,624.60. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in CERN. IFS Advisors LLC bought a new stake in shares of Cerner during the fourth quarter worth $31,000. MCF Advisors LLC bought a new stake in shares of Cerner during the first quarter worth $39,000. TAP Consulting LLC acquired a new position in shares of Cerner during the fourth quarter valued at $46,000. Retirement Planning Co of New England Inc. acquired a new position in shares of Cerner during the fourth quarter valued at $51,000. Finally, Perkins Coie Trust Co lifted its stake in shares of Cerner by 78.0% during the first quarter. Perkins Coie Trust Co now owns 541 shares of the company’s stock valued at $51,000 after acquiring an additional 237 shares during the period. Institutional investors own 82.23% of the company’s stock.

NASDAQ CERN traded up $0.01 during trading on Monday, hitting $94.21. The company’s stock had a trading volume of 2,547,148 shares, compared to its average volume of 2,793,753. The company has a quick ratio of 1.77, a current ratio of 1.79 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average price of $93.60 and a 200 day moving average price of $88.03. The firm has a market cap of $27.71 billion, a P/E ratio of 47.34, a price-to-earnings-growth ratio of 2.35 and a beta of 0.77. Cerner has a 52 week low of $69.08 and a 52 week high of $94.46.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 19th. Stockholders of record on Monday, March 28th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, March 25th. Cerner’s payout ratio is presently 54.27%.

Cerner Company Profile (Get Rating)

Cerner Corporation, together with its subsidiaries, provides health care information technology solutions and tech-enabled services in the United States and internationally. It 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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