Cerner Co. (CERN) to Post Q1 2019 Earnings of $0.55 Per Share, Piper Jaffray Companies Forecasts

Cerner Co. (NASDAQ:CERN) – Stock analysts at Piper Jaffray Companies issued their Q1 2019 earnings per share estimates for shares of Cerner in a research note issued to investors on Wednesday, February 6th. Piper Jaffray Companies analyst S. Wieland expects that the company will post earnings per share of $0.55 for the quarter. Piper Jaffray Companies also issued estimates for Cerner’s Q2 2019 earnings at $0.61 EPS, Q3 2019 earnings at $0.61 EPS, Q4 2019 earnings at $0.60 EPS and FY2019 earnings at $2.36 EPS.

Cerner (NASDAQ:CERN) last posted its earnings results on Tuesday, February 5th. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. Cerner had a return on equity of 14.84% and a net margin of 11.74%. Cerner’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 earnings per share.

Several other analysts have also weighed in on the company. Zacks Investment Research lowered Cerner from a “hold” rating to a “sell” rating in a report on Friday, February 1st. BidaskClub upgraded Cerner from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Morgan Stanley reduced their price objective on Cerner from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Monday, December 3rd. Leerink Swann upgraded Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research report on Monday, October 29th. Finally, Cantor Fitzgerald reduced their price objective on Cerner from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $68.90.

Cerner stock opened at $57.50 on Monday. The company has a current ratio of 2.41, a quick ratio of 2.38 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $18.45 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.89 and a beta of 0.99. Cerner has a fifty-two week low of $48.78 and a fifty-two week high of $67.57.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Cerner by 1.4% during the third quarter. Vanguard Group Inc. now owns 32,550,326 shares of the company’s stock worth $2,096,567,000 after buying an additional 462,447 shares during the period. Vanguard Group Inc lifted its position in Cerner by 1.4% during the third quarter. Vanguard Group Inc now owns 32,550,326 shares of the company’s stock worth $2,096,567,000 after buying an additional 462,447 shares during the period. BlackRock Inc. lifted its position in Cerner by 5.4% during the fourth quarter. BlackRock Inc. now owns 22,078,769 shares of the company’s stock worth $1,157,811,000 after buying an additional 1,122,165 shares during the period. Bank of New York Mellon Corp lifted its position in Cerner by 191,922.4% during the third quarter. Bank of New York Mellon Corp now owns 15,043,035 shares of the company’s stock worth $968,920,000 after buying an additional 15,035,201 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in Cerner by 1.1% during the third quarter. Loomis Sayles & Co. L P now owns 13,104,765 shares of the company’s stock worth $844,078,000 after buying an additional 141,745 shares during the period. Hedge funds and other institutional investors own 79.40% of the company’s stock.

In related news, Vice Chairman Clifford W. Illig sold 435,000 shares of the stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $57.95, for a total transaction of $25,208,250.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Clifford W. Illig sold 5,000 shares of the stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $57.19, for a total value of $285,950.00. Following the transaction, the insider now owns 1,229,719 shares in the company, valued at $70,327,629.61. The disclosure for this sale can be found here. 4.71% of the stock is owned by corporate insiders.

Cerner Company Profile

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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