Stock Update : Cerner Corp (NASDAQ:CERN)

[The Fly] Cerner Corp (NASDAQ:CERN) (TREND ANALYSIS) and Qualcomm Life, a subsidiary of Qualcomm (QCOM), announced an agreement to extend Cerner’s medical device connectivity capabilities beyond the hospital to the home. Cerner will leverage Qualcomm Life’s FDA listed 2net Platform and Hub to seamlessly capture data from medical devices and sensors within a patient’s home, and transmit it to Cerner health care clients through Cerner’s CareAware device connectivity platform. Through this initiative, care providers can remotely monitor chronically ill patients in near real-time to enable proactive engagement to potentially reduce the risk of an acute care episode.

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The company is expected to announce next quarter earnings on April 23, at consensus estimate of $0.42. Cerner Corporation (CERN) reported last quarter earnings on February 10. The Medical Information Systems company announced earnings per share of $0.44 against a consensus Street estimate of $0.43, beating the average estimate by $0.01. This corresponds to an increase of $0.07 compared to the same quarter of the previous fiscal year.

Cerner Corp (NASDAQ:CERN) is currently trading 0.58% below its 52-week-high, 54.99% above its 52-week-low. The 12-months range for the stock is $48.39 – $75.44. Cerner Corporation (CERN) has a price to earnings ratio of 50.18 versus Nasdaq average of 20.27. CERN stock price has outperformed the Nasdaq by 12.1%. The Medical Information Systems company is currently valued at $25.8 billion and its share price closed the last trading session at $75. The stock has a 50-day moving average of $72.41 and a 200-day moving average of $65.75.

Cerner Corporation (CERN) current short interest stands at 13.92 million shares. It has decreased by 4% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.34 million shares, the number of days required to cover the short positions stand at 10.5 days.

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There are currently twenty-nine analysts that cover CERN stock. Of those twenty-nine, twenty-three have a Buy rating, five have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $74.4.

A recent analyst activity consisted of Stifel Nicolaus who initiated their coverage on the stock with Hold rating on April 7. On the date of report, the stock closed at $72.45.

Barclays reiterated their Overweight stance on April 6, and fixed their price target at $75. On the date of report, the stock closed at $73.4.

A third research firm was Baird who upgraded their Neutral rating to Outperform on March 19. Baird increased their price target on CERN stock from $65 to $77. This translates to a 2.67% upside from the last closing price. On the date of report, the stock closed at $73.82.

Company profile

Cerner Corporation is a worldwide supplier of healthcare solutions and services. The Company’s Solutions are designed to optimize clinical and financial outcomes for healthcare organizations ranging from single-doctor practices, to health systems, to entire countries, for the pharmaceutical and medical device industries, and for the healthcare commerce system.

Stock Update : Cerner Corp (NASDAQ:CERN) was last modified: April 13th, 2015 by Seth Talluto