Thu, May 5, 5:38 PM
- In addition to missing Q1 sales estimates (while beating on EPS), Cerner (NASDAQ:CERN) is guiding for Q2 revenue of $1.175B-$1.25B and EPS of $0.56-$0.58, below a consensus of $1.24B and $0.58 at the midpoints. Full-year revenue guidance of $4.9B-$5.1B and EPS guidance of $2.30-$2.40 (compares with a consensus of $4.98B and $2.35) is affirmed.
- While revenue rose 14% Y/Y in Q1 to $1.14B, bookings were roughly flat at $1.17B. Cerner notes bookings grew 18% when excluding long-term bookings, which were at a record high a year ago. Q2 bookings guidance is at $1.35B-$1.48B.
- System sales, support/maintenance/service revenue, and reimbursed travel revenue all grew Y/Y. Operating expenses rose 13% to $747.1M. Free cash flow more than doubled Y/Y to $152.4M. Cerner ended Q1 with $503M in cash and $554M in debt.
- CERN -5.3% after hours to $52.50.
- Cerner's Q1 results, earnings release
Wed, Feb. 17, 9:14 AM
Tue, Feb. 16, 4:20 PM
- Though Cerner (NASDAQ:CERN) beat Q4 estimates, the company reported bookings growth slowed to 16% Y/Y (to $1.35B) from Q3's 44% (to $1.59B). Both Q3 and Q4's growth rates benefited from the purchase of Siemens' healthcare IT arm (closed in Feb. 2015); Q4 bookings growth trailed revenue growth of 27%.
- Also: Q1 new business bookings guidance is at $1.15B-$1.25B. Q1 2015 bookings totaled $1.2B.
- Sales/EPS guidance is in-line: Q1 revenue of $1.15B-$1.2B and EPS of $0.52-$0.54 vs. a consensus of $1.18B and $0.54, and 2016 revenue of $4.9B-$5.1B and EPS of $2.30-$2.40 vs. a consensus of $5.02B and $2.36.
- Cerner's backlog still rose 34% Y/Y to reach $14.2B at the end of Q4. Free cash flow rose 86% Y/Y in Q4 to $186.4M; it was down 18% over the whole of 2015 to $320.7M. Cerner ended 2015 with $513M in cash and $605M in debt/capital lease obligations.
- CERN -10.9% after hours to $49.41.
- Cerner's Q4 results, earnings release
Tue, Feb. 16, 4:03 PM
Nov. 4, 2015, 9:15 AM| Nov. 4, 2015, 9:15 AM | 2 Comments
Nov. 3, 2015, 4:25 PM
- In addition to missing Q3 revenue estimates (while posting in-line EPS), Cerner (NASDAQ:CERN) is guiding for Q4 revenue of $1.15B-$1.2B and EPS of $0.56-$0.58, below a consensus of $1.24B and $0.61. New business bookings are expected to total $1.45B-$1.55B.
- Bookings (boosted by the Siemens Health acquisition) rose 44% Y/Y in Q3 to $1.59B, topping revenue of $1.13B (+34%, also lifted by the Siemens deal). Backlog rose 37% to $13.9B. System sales totaled $325.1M, support, maintenance, and services $783.8M, and reimbursed travel $18.9M.
- GAAP operating expenses rose 41% to $721.9M, and free cash flow totaled $111.4M (compares with adjusted net earnings of $188.7M). Cerner ended Q3 with $463M in cash, and $630M in long-term debt.
- Shares have fallen to $59.53 after hours. Peer Quality Systems (NASDAQ:QSII) is down 1.5% to $14.06, after rising 3.7% in regular trading.
- Cerner's Q3 results, PR
Sep. 29, 2015, 10:16 AM
- RBC has upgraded Cerner (NASDAQ:CERN) to Outperform, and hiked its target by $2 to $70.
- The healthcare IT giant is down 7% YTD. Shares go for 24x a 2016 EPS consensus of $2.52. A $245M buyback was launched earlier this month.
- Update: More details here. RBC's David Francis argues Cerner's recent selloff presents a "unique opportunity to own a market leader," and states checks point to an acceleration in RFP activity for what used to be Siemens' healthcare IT unit.
Sep. 8, 2015, 9:46 AM
- Cerner's (NASDAQ:CERN) buyback is good for repurchasing 1.2% of shares at current levels. It's intended to offset stock grant dilution, and will be funded via working capital.
- The healthcare IT giant adds a prior buyback program (launched in Dec. 2013 and upped by $100M in May 2014) has been used up. Shares are rallying on a morning the Nasdaq is up 2.2%, and the S&P 2%.
Aug. 5, 2015, 9:19 AM
- Gainers: FNJN +60%. BIOC +13%. FSLR +11%. KATE +9%. Z +9%. HRB +8%. OAS +8%. TSEM +8%. PCLN +7%. SLTD +7%. MSI +6%. ATVI +6%. SUPN +6%. LC +6%. CTSH +6%. BBL +6%. SDRL +5%.
- Losers: SALE -33%. OHGI -28%. LL -24%. BOOT -23%. ETSY -20%. TRMB -13%. GLUU -10%. RSO -10%. DIS -9%. NYMT -7%. MEMP -7%. GNW -7%. PWR -7%. CERN -6%. PZZA -6%.
Aug. 4, 2015, 4:56 PM
- In addition to missing Q2 revenue estimates (while posting in-line EPS), Cerner (NASDAQ:CERN) is guiding for Q3 revenue of $1.15B-$1.2B (below a $1.22B consensus) and full-year revenue of $4.475B-$4.575B (below a $4.72B consensus).
- EPS guidance is stronger: Q3 EPS of $0.54-$0.55 and 2015 EPS of $2.09-$2.15, in-line with consensus estimates of $0.55 and $2.12.
- With the Siemens deal providing a lift, Q2 bookings totaled $1.29B, +20% Y/Y, above revenue of $1.126B (+26%), and a new record. Backlog rose 37% to $13.3B. Q3 bookings guidance is at $1.35B-$1.45B.
- Shares have slumped to $67.49 AH.
- Q2 results, PR
Jun. 24, 2015, 5:36 PM
May 8, 2015, 3:45 PM
- Healthcare IT giant Cerner (CERN -4.6%) is selling off after missing Q1 revenue estimates (while posting in-line EPS). Q2 and full-year revenue guidance of $1.175B-$1.225B and $4.65B-$4.8B is respectively below consensus estimates of $1.24B and $4.91B; EPS guidance of $0.51-$0.52 and $2.07-$2.15 is in-line with estimates of $0.52 and $2.12.
- Commercial printing/film product maker Kodak (KODK -5%) is lower after reporting a 12.5% Y/Y revenue drop; a 12% decline in Print Systems Division sales (59% of revenue) weighed on results, as did a 19% drop in Enterprise Inkjet Systems Division revenue. Full-year revenue guidance of $1.8B-$2B and operational EBITDA guidance of $100M-$200M has been reiterated.
- Gaming headset maker Turtle Beach (HEAR -6.6%) has sold off after posting mixed Q1 results. Q2 guidance is for revenue of $23M-$25M (compares with a $24.5M consensus) and a net loss of $7.5M-$9.5M (compares with a $10.6M Q1 loss); full-year headset revenue guidance is reiterated.
- Car-buying site TrueCar (TRUE -6.1%) is down after posting in-line Q1 results and reporting a 34% Y/Y increase in sold units to $168.6K. Q2 guidance is for revenue of $67M-$69M ($68.6M consensus) and 205K-210K units; full-year guidance is for revenue of $280M-$290M ($284.3M consensus) and 825K units.
- Previously covered: Rubicon, KEYW Holding, Sierra Wireless, Amber Road, Nvidia
Mar. 19, 2015, 1:09 PM
- As part of a broader transfer of coverage for healthcare tech names, Baird has upgraded Cerner (CERN +3.3%) to Outperform, and hiked its target by $12 to $77. Allscripts (MDRX +3.6%) has been launched at Outperform, and assigned a $16 target. Quality Systems (QSII -1.1%) has been downgraded to Neutral.
- Also: Allscripts has announced it's partnering with healthcare voice recognition software vendor NoteSwift to resell NoteSwift's offerings with Allscripts' Professional EHR health record software, in response to customer demand. Nuance's (NASDAQ:NUAN) Dragon Medical powers NoteSwift's software.
- Cerner has made new highs. RBC downgraded Quality Systems last week.
Mar. 6, 2015, 2:54 PM
- With the Nasdaq down 1.1%, major tech decliners are outpacing major gainers by a sound margin.
- Notable gainers include gaming headset maker Turtle Beach (HEAR +6.8%), Chinese data center owner 21Vianet (VNET +3.6%), wireless charging tech developer Energous (WATT +2.7%), Chinese online retailer LightInTheBox (LITB +5.6%), and solar microinverter maker Enphase (ENPH +5.9%).
- Notable decliners include ultracapacitor maker Maxwell (MXWL -6.6%), healthcare IT giant Cerner (CERN -3.8%), enterprise storage hardware vendor Quantum (QTM -6%), cloud SMB marketing software vendor Constant Contact (CTCT -4.6%), 3D measurement/imaging system maker FARO Technologies (FARO -5.4%), PC/mobile peripherals giant Logitech (LOGI -4.6%), and cloud security/compliance software vendor Qualys (QLYS -4.2%).
- Energous is up 12% over the last two trading days; its Q4 report arrives on Monday afternoon. Maxwell was up sharply yesterday on an insider buy. Cerner closed yesterday near an all-time high of $73.24.
- Previously covered: YY, Finisar/JDS Uniphase, Violin Memory, Crossroads, Skullcandy, Neustar, Synacor, CyberArk, Autohome/Bitauto, Wave Systems
Jul. 25, 2014, 5:48 PM
- Cerner (CERN +2.2%) is at levels last seen in early April after delivering a solid Q2 beat. The healthcare tech giant expects Q3 revenue of $840M-$870M, mostly above an $842.7M consensus. But full-year guidance is in-line: revenue of $3.3B-$3.4B and EPS of $1.64-$1.67 vs. a consensus of $3.35B and $1.66.
- Bookings rose 15% Y/Y in Q2 to $1.08B, soundly exceeding revenue of $851.8M (+20%). Q3 bookings are expected to total $1B-$1.1B, up from $928M a year earlier. Cerner's backlog was $9.69B at the end of Q2 (+21% Y/Y).
- Gross margin fell 130 bps Y/Y to 80.9%, something Cerner blamed during the CC (transcript) on a higher mix of 3rd-party services. Opex rose 19% to $483M.
- Systems revenue grew 17%, and services revenue 28%. U.S. sales rose 24%, while international sales fell 4%; Cerner blames the latter on contract timings.
- Q2 results, PR
Feb. 18, 2014, 9:43 AM
- BlackBerry (BBRY +3.9%) has been upgraded to Market Perform by FBR. Dan Loeb's Third Point LLC disclosed a 10M-share stake in the company after the close on Friday.
- Veeco (VECO +1.8%) has been upgraded to Hold by Canaccord ahead of tomorrow's Q4 report. Credit Suisse and JPMorgan have already upgraded shares this month.
- Universal Display (OLED +3.9%) has also been upgraded to Hold by Canaccord.
- Cerner (CERN +1.7%), Allscripts (MDRX +1.1%), and Medidata (MDSO +2.2%) have been started at Buy by Citi as part of a healthcare IT coverage launch.
- Care.com (CRCM -2.1%) has been assigned neutral ratings by JPMorgan, Morgan Stanley, and Stifel on underwriter coverage day.
Cerner Corp. designs, develops, markets, installs, hosts and supports health care information technology, health care devices, hardware and content solutions for health care organizations and consumers. It also provides a wide range of value-added services, including implementation and training,... More
Industry: Healthcare Information Services
Country: United States
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