Cerner Corporation (CERN) Releases Earnings Results, Beats Expectations By $0.01 EPS

Cerner Corporation (CERN) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.58 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.57. The company posted revenue of $1216.00 million in the period, compared to analysts expectations of $1209.57 million. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on Cerner Corporation. Cerner Corporation was Downgraded by Raymond James to ” Mkt Perform” on Jul 5, 2016. Cerner Corporation was Upgraded by SunTrust to ” Buy” on Jun 23, 2016. Shares were Reiterated by Topeka Capital Markets on May 6, 2016 to “Buy” and Lowered the Price Target to $ 64 from a previous price target of $65 .

Cerner Corporation opened for trading at $62.31 and hit $62.71 on the upside on Friday, eventually ending the session at $62.39, with a gain of 0.24% or 0.15 points. The heightened volatility saw the trading volume jump to 18,49,699 shares. Company has a market cap of $21,093 M.

In a different news, on Jun 3, 2016, William D Zollars (director) sold 9,000 shares at $55.72 per share price. According to the SEC, on May 23, 2016, Linda M Dillman (director) sold 3,700 shares at $54.46 per share price. On May 13, 2016, Neal L Patterson (Chairman and CEO) sold 40,000 shares at $54.24 per share price, according to the Form-4 filing with the securities and exchange commission.

Cerner Corporation (Cerner) is a supplier of health care information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical financial and operational needs of organizations. The Company offers software hardware professional services and managed services. The Company operates in two segments: Domestic and Global. The Domestic segment includes the business activity in the United States. The Global segment includes the business activity in Aruba Australia Austria Brazil Canada Cayman Islands Chile Egypt England Finland France Germany Guam India Ireland Israel Malaysia Mexico Netherlands Qatar Saudi Arabia Singapore Spain Switzerland and the United Arab Emirates. Cerner solutions are offered on the unified Cerner Millennium architecture and on the HealtheIntent cloud-based platform. Its solutions include HealtheRegistries Cerner ITWorks Cerner RevWorks PowerWorks and CommunityWorks among others.

Cerner Corporation

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