Cerner Co. (NASDAQ:CERN) announced a quarterly dividend on Wednesday, September 11th, RTT News reports. Stockholders of record on Wednesday, September 25th will be paid a dividend of 0.18 per share on Wednesday, October 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.05%.
Cerner has a dividend payout ratio of 31.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cerner to earn $2.93 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 24.6%.
Shares of CERN stock traded up $0.49 during mid-day trading on Thursday, reaching $68.82. 320,158 shares of the company’s stock traded hands, compared to its average volume of 2,409,300. Cerner has a 12 month low of $48.78 and a 12 month high of $76.47. The company has a market cap of $21.76 billion, a P/E ratio of 31.14, a P/E/G ratio of 1.88 and a beta of 0.92. The company has a quick ratio of 2.50, a current ratio of 2.52 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $70.10 and its 200-day moving average price is $67.02.
Cerner (NASDAQ:CERN) last announced its earnings results on Wednesday, July 24th. The company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Cerner had a net margin of 10.75% and a return on equity of 15.14%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business posted $0.62 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts predict that Cerner will post 2.43 earnings per share for the current year.
In other Cerner news, VP Donald Trigg sold 29,423 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $67.72, for a total value of $1,992,525.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeffrey A. Townsend sold 199,432 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $66.46, for a total value of $13,254,250.72. Following the completion of the transaction, the vice president now directly owns 59,432 shares of the company’s stock, valued at approximately $3,949,850.72. The disclosure for this sale can be found here. In the last three months, insiders sold 288,377 shares of company stock valued at $19,427,390. 0.75% of the stock is owned by insiders.
A number of analysts have recently commented on the stock. Canaccord Genuity boosted their target price on shares of Cerner from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Bank of America lifted their price target on Cerner from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. ValuEngine lowered Cerner from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Cantor Fitzgerald lifted their price target on Cerner from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Finally, BidaskClub lowered Cerner from a “sell” rating to a “strong sell” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $74.73.
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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