Oppenheimer Comments on Cerner Co.’s Q1 2019 Earnings (CERN)

Cerner Co. (NASDAQ:CERN) – Equities researchers at Oppenheimer issued their Q1 2019 earnings per share estimates for shares of Cerner in a research report issued on Wednesday, February 6th. Oppenheimer analyst M. Naidu anticipates that the company will post earnings per share of $0.56 for the quarter. Oppenheimer also issued estimates for Cerner’s Q2 2019 earnings at $0.57 EPS, Q3 2019 earnings at $0.63 EPS, Q4 2019 earnings at $0.65 EPS and FY2019 earnings at $2.39 EPS.

Several other brokerages also recently weighed in on CERN. Barclays decreased their price target on Cerner from $70.00 to $67.00 and set an “equal weight” rating for the company in a report on Friday, October 26th. Morgan Stanley decreased their price target on Cerner from $72.00 to $68.00 and set an “equal weight” rating for the company in a report on Monday, December 3rd. BidaskClub raised Cerner from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Zacks Investment Research raised Cerner from a “sell” rating to a “hold” rating in a report on Thursday, November 22nd. Finally, Leerink Swann raised Cerner from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a report on Monday, October 29th. One 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 stock currently has a consensus rating of “Hold” and an average target price of $68.90.

CERN stock opened at $57.50 on Monday. The company has a market capitalization of $18.45 billion, a PE ratio of 26.02, a PEG ratio of 1.89 and a beta of 0.99. Cerner has a twelve month low of $48.78 and a twelve month high of $67.57. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.41 and a quick ratio of 2.38.

Cerner (NASDAQ:CERN) last posted its quarterly earnings data 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 business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. Cerner had a return on equity of 14.84% and a net margin of 11.74%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.58 earnings per share.

In other Cerner news, Vice Chairman Clifford W. Illig sold 435,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $57.95, for a total value of $25,208,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Clifford W. Illig sold 5,000 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $57.19, for a total value of $285,950.00. Following the completion of the sale, the insider now directly owns 1,229,719 shares of the company’s stock, valued at approximately $70,327,629.61. The disclosure for this sale can be found here. 4.71% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. FTB Advisors Inc. increased its position in Cerner by 6.1% during the 4th quarter. FTB Advisors Inc. now owns 7,259 shares of the company’s stock worth $380,000 after purchasing an additional 415 shares in the last quarter. Martingale Asset Management L P increased its position in Cerner by 21.8% during the 4th quarter. Martingale Asset Management L P now owns 138,397 shares of the company’s stock worth $7,258,000 after purchasing an additional 24,730 shares in the last quarter. State of Tennessee Treasury Department increased its position in Cerner by 914.2% during the 4th quarter. State of Tennessee Treasury Department now owns 744,885 shares of the company’s stock worth $39,062,000 after purchasing an additional 671,442 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new stake in Cerner during the 4th quarter worth about $205,000. Finally, Bank of Nova Scotia increased its position in Cerner by 5.3% during the 4th quarter. Bank of Nova Scotia now owns 70,406 shares of the company’s stock worth $3,692,000 after purchasing an additional 3,565 shares in the last quarter. 79.40% of the stock is owned by institutional investors.

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.

See Also: Price to Earnings Ratio (PE)

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