Cerner (CERN) Releases FY19 Earnings Guidance

Cerner (NASDAQ:CERN) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.57-2.67 for the period, compared to the Thomson Reuters consensus estimate of $2.68. The company issued revenue guidance of $5.650-5.850 billion, compared to the consensus revenue estimate of $5.80 billion.Cerner also updated its FY 2019 guidance to $2.57-2.67 EPS.

Several analysts have issued reports on the company. Zacks Investment Research upgraded Cerner from a sell rating to a hold rating in a report on Wednesday, October 24th. Royal Bank of Canada cut Cerner from an outperform rating to a sector perform rating and dropped their target price for the company from $72.00 to $54.00 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 on the stock in a research note on Monday, December 3rd. Cantor Fitzgerald decreased their price target on Cerner from $80.00 to $75.00 and set an overweight rating on the stock in a research note on Friday, October 26th. Finally, Leerink Swann raised Cerner from a market perform rating to an outperform rating and set a $70.00 price target on the stock in a research note on Monday, October 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. Cerner currently has an average rating of Buy and an average price target of $69.42.

NASDAQ CERN traded down $0.18 during trading hours on Tuesday, hitting $55.41. 2,813,944 shares of the company were exchanged, compared to its average volume of 2,297,439. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.63 and a quick ratio of 2.60. Cerner has a 52-week low of $48.78 and a 52-week high of $67.57. The company has a market cap of $18.42 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.64 and a beta of 0.99.

Cerner (NASDAQ:CERN) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $0.63 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. Cerner had a return on equity of 14.73% and a net margin of 15.72%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the business earned $0.58 EPS. Cerner’s revenue was up 3.9% on a year-over-year basis. Equities research analysts anticipate that Cerner will post 2.22 earnings per share for the current fiscal year.

In other news, 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 approximately $70,327,629.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Clifford W. Illig sold 435,000 shares of the stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $57.95, for a total value of $25,208,250.00. The disclosure for this sale can be found here. 4.71% of the stock is owned by corporate insiders.

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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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