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

Brokerages predict that Cerner Co. (NASDAQ:CERN) will report sales of $1.43 billion for the current fiscal quarter, according to Zacks. Ten analysts have provided 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 in the same quarter last year, which suggests a positive year over year growth rate of 6.7%. The company is expected to issue its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Cerner will report full year sales of $5.73 billion for the current fiscal year, with estimates ranging from $5.68 billion to $5.79 billion. For the next financial year, analysts anticipate that the business will post sales of $6.09 billion, with estimates ranging from $5.96 billion to $6.22 billion. Zacks’ 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 analysts’ consensus estimates of $0.58 by $0.02. Cerner had a return on equity of 15.14% and a net margin of 10.75%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the company earned $0.62 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis.

Several research firms have recently weighed in on CERN. Piper Jaffray Companies increased their price objective on Cerner from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Co upped their target price on Cerner from $72.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. ValuEngine upgraded Cerner from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley set a $49.00 target price on Cerner and gave the company a “sell” rating in a research note on Wednesday, April 10th. Finally, Canaccord Genuity upped 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. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $73.36.

Cerner stock traded up $0.85 during trading hours on Friday, reaching $72.50. 139,788 shares of the company were exchanged, compared to its average volume of 2,034,287. The firm has a market capitalization of $23.01 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 2.11 and a beta of 0.89. The company has a current ratio of 2.52, a quick ratio of 2.50 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $73.31. Cerner has a 12 month low of $48.78 and a 12 month high of $76.47.

The firm also recently declared a special dividend, which was paid on Friday, July 26th. Shareholders of record on Tuesday, June 18th were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 17th. Cerner’s payout ratio is 32.58%.

In related news, EVP Randy D. Sims sold 40,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $72.45, for a total value of $2,898,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Julie M. Wilson sold 93,500 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $69.57, for a total value of $6,504,795.00. Following the completion of the transaction, the executive vice president now owns 45,510 shares in the company, valued at approximately $3,166,130.70. The disclosure for this sale can be found here. Insiders sold a total of 441,468 shares of company stock valued at $30,777,997 over the last three months. 0.75% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Cerner by 25.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,502,329 shares of the company’s stock worth $78,781,000 after acquiring an additional 307,694 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cerner by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 4,747,793 shares of the company’s stock valued at $248,593,000 after purchasing an additional 342,029 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Cerner by 5.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 74,105 shares of the company’s stock valued at $3,886,000 after purchasing an additional 3,679 shares in the last quarter. Nuveen Asset Management LLC raised its position in Cerner by 17.8% in the 4th quarter. Nuveen Asset Management LLC now owns 8,301 shares of the company’s stock valued at $435,000 after buying an additional 1,256 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in shares of Cerner during the 4th quarter worth approximately $461,000. 81.47% of the stock is owned by 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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