Intrinsic value of Cerner - CERN

Previous Close

$65.29

  Intrinsic Value

$28.89

stock screener

  Rating & Target

str. sell

-56%

Previous close

$65.29

 
Intrinsic value

$28.89

 
Up/down potential

-56%

 
Rating

str. sell

We calculate the intrinsic value of CERN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 21.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
  5.19
  5.18
  5.16
  5.14
  5.13
  5.12
  5.10
Revenue, $m
  5,512
  5,897
  6,297
  6,713
  7,145
  7,595
  8,064
  8,552
  9,061
  9,591
  10,144
  10,721
  11,324
  11,953
  12,611
  13,299
  14,018
  14,770
  15,558
  16,382
  17,245
  18,148
  19,095
  20,087
  21,127
  22,216
  23,359
  24,557
  25,813
  27,130
Variable operating expenses, $m
  4,449
  4,745
  5,052
  5,371
  5,704
  6,049
  6,409
  6,784
  7,175
  7,582
  7,791
  8,235
  8,698
  9,181
  9,687
  10,215
  10,767
  11,345
  11,950
  12,583
  13,245
  13,940
  14,667
  15,429
  16,227
  17,064
  17,942
  18,862
  19,827
  20,838
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  4,449
  4,745
  5,052
  5,371
  5,704
  6,049
  6,409
  6,784
  7,175
  7,582
  7,791
  8,235
  8,698
  9,181
  9,687
  10,215
  10,767
  11,345
  11,950
  12,583
  13,245
  13,940
  14,667
  15,429
  16,227
  17,064
  17,942
  18,862
  19,827
  20,838
Operating income, $m
  1,063
  1,152
  1,245
  1,341
  1,442
  1,546
  1,655
  1,768
  1,886
  2,009
  2,352
  2,486
  2,626
  2,772
  2,925
  3,084
  3,251
  3,425
  3,608
  3,799
  3,999
  4,209
  4,428
  4,658
  4,900
  5,152
  5,417
  5,695
  5,986
  6,292
EBITDA, $m
  1,677
  1,794
  1,916
  2,042
  2,174
  2,311
  2,453
  2,602
  2,756
  2,918
  3,086
  3,261
  3,445
  3,636
  3,836
  4,046
  4,264
  4,493
  4,733
  4,983
  5,246
  5,521
  5,809
  6,111
  6,427
  6,758
  7,106
  7,470
  7,853
  8,253
Interest expense (income), $m
  18
  28
  34
  41
  48
  55
  63
  71
  79
  88
  96
  106
  115
  126
  136
  147
  159
  171
  183
  197
  211
  225
  240
  256
  273
  290
  308
  327
  347
  368
  390
Earnings before tax, $m
  1,035
  1,118
  1,204
  1,293
  1,386
  1,483
  1,584
  1,689
  1,798
  1,912
  2,247
  2,371
  2,500
  2,636
  2,777
  2,925
  3,080
  3,242
  3,411
  3,589
  3,774
  3,969
  4,172
  4,386
  4,610
  4,844
  5,090
  5,348
  5,618
  5,901
Tax expense, $m
  279
  302
  325
  349
  374
  400
  428
  456
  486
  516
  607
  640
  675
  712
  750
  790
  832
  875
  921
  969
  1,019
  1,072
  1,127
  1,184
  1,245
  1,308
  1,374
  1,444
  1,517
  1,593
Net income, $m
  756
  816
  879
  944
  1,012
  1,083
  1,156
  1,233
  1,313
  1,396
  1,640
  1,731
  1,825
  1,924
  2,028
  2,135
  2,248
  2,367
  2,490
  2,620
  2,755
  2,897
  3,046
  3,202
  3,365
  3,536
  3,716
  3,904
  4,101
  4,308

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  6,916
  7,399
  7,901
  8,423
  8,965
  9,530
  10,118
  10,730
  11,368
  12,034
  12,728
  13,452
  14,208
  14,998
  15,823
  16,686
  17,588
  18,532
  19,520
  20,554
  21,637
  22,771
  23,959
  25,203
  26,508
  27,875
  29,308
  30,811
  32,387
  34,040
Adjusted assets (=assets-cash), $m
  6,916
  7,399
  7,901
  8,423
  8,965
  9,530
  10,118
  10,730
  11,368
  12,034
  12,728
  13,452
  14,208
  14,998
  15,823
  16,686
  17,588
  18,532
  19,520
  20,554
  21,637
  22,771
  23,959
  25,203
  26,508
  27,875
  29,308
  30,811
  32,387
  34,040
Revenue / Adjusted assets
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
Average production assets, $m
  3,985
  4,264
  4,553
  4,853
  5,166
  5,491
  5,830
  6,183
  6,551
  6,934
  7,334
  7,751
  8,187
  8,642
  9,118
  9,615
  10,135
  10,679
  11,248
  11,844
  12,468
  13,121
  13,806
  14,523
  15,275
  16,062
  16,888
  17,754
  18,663
  19,615
Working capital, $m
  -220
  -236
  -252
  -269
  -286
  -304
  -323
  -342
  -362
  -384
  -406
  -429
  -453
  -478
  -504
  -532
  -561
  -591
  -622
  -655
  -690
  -726
  -764
  -803
  -845
  -889
  -934
  -982
  -1,033
  -1,085
Total debt, $m
  634
  759
  889
  1,024
  1,164
  1,311
  1,463
  1,622
  1,787
  1,959
  2,139
  2,326
  2,522
  2,727
  2,941
  3,164
  3,398
  3,642
  3,898
  4,166
  4,446
  4,740
  5,048
  5,370
  5,708
  6,062
  6,433
  6,823
  7,231
  7,659
Total liabilities, $m
  1,791
  1,916
  2,046
  2,181
  2,322
  2,468
  2,621
  2,779
  2,944
  3,117
  3,296
  3,484
  3,680
  3,884
  4,098
  4,322
  4,555
  4,800
  5,056
  5,324
  5,604
  5,898
  6,205
  6,528
  6,866
  7,220
  7,591
  7,980
  8,388
  8,816
Total equity, $m
  5,125
  5,483
  5,854
  6,241
  6,643
  7,062
  7,497
  7,951
  8,424
  8,917
  9,431
  9,968
  10,528
  11,113
  11,725
  12,364
  13,033
  13,733
  14,465
  15,231
  16,033
  16,873
  17,753
  18,676
  19,642
  20,655
  21,718
  22,831
  23,999
  25,224
Total liabilities and equity, $m
  6,916
  7,399
  7,900
  8,422
  8,965
  9,530
  10,118
  10,730
  11,368
  12,034
  12,727
  13,452
  14,208
  14,997
  15,823
  16,686
  17,588
  18,533
  19,521
  20,555
  21,637
  22,771
  23,958
  25,204
  26,508
  27,875
  29,309
  30,811
  32,387
  34,040
Debt-to-equity ratio
  0.120
  0.140
  0.150
  0.160
  0.180
  0.190
  0.200
  0.200
  0.210
  0.220
  0.230
  0.230
  0.240
  0.250
  0.250
  0.260
  0.260
  0.270
  0.270
  0.270
  0.280
  0.280
  0.280
  0.290
  0.290
  0.290
  0.300
  0.300
  0.300
  0.300
Adjusted equity ratio
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  756
  816
  879
  944
  1,012
  1,083
  1,156
  1,233
  1,313
  1,396
  1,640
  1,731
  1,825
  1,924
  2,028
  2,135
  2,248
  2,367
  2,490
  2,620
  2,755
  2,897
  3,046
  3,202
  3,365
  3,536
  3,716
  3,904
  4,101
  4,308
Depreciation, amort., depletion, $m
  614
  642
  671
  701
  732
  765
  799
  834
  871
  909
  733
  775
  819
  864
  912
  962
  1,014
  1,068
  1,125
  1,184
  1,247
  1,312
  1,381
  1,452
  1,527
  1,606
  1,689
  1,775
  1,866
  1,962
Funds from operations, $m
  1,370
  1,458
  1,550
  1,645
  1,744
  1,847
  1,955
  2,067
  2,183
  2,305
  2,373
  2,506
  2,644
  2,788
  2,939
  3,097
  3,262
  3,434
  3,615
  3,804
  4,002
  4,209
  4,426
  4,654
  4,892
  5,142
  5,404
  5,679
  5,967
  6,269
Change in working capital, $m
  -15
  -15
  -16
  -17
  -17
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -28
  -29
  -30
  -31
  -33
  -35
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -53
Cash from operations, $m
  1,384
  1,473
  1,566
  1,662
  1,761
  1,865
  1,973
  2,086
  2,204
  2,326
  2,396
  2,529
  2,668
  2,814
  2,966
  3,125
  3,291
  3,465
  3,647
  3,837
  4,037
  4,245
  4,464
  4,694
  4,934
  5,186
  5,450
  5,727
  6,018
  6,322
Maintenance CAPEX, $m
  -372
  -399
  -426
  -455
  -485
  -517
  -549
  -583
  -618
  -655
  -693
  -733
  -775
  -819
  -864
  -912
  -962
  -1,014
  -1,068
  -1,125
  -1,184
  -1,247
  -1,312
  -1,381
  -1,452
  -1,527
  -1,606
  -1,689
  -1,775
  -1,866
New CAPEX, $m
  -265
  -278
  -289
  -301
  -313
  -325
  -339
  -353
  -368
  -383
  -400
  -417
  -436
  -455
  -476
  -497
  -520
  -544
  -569
  -596
  -624
  -653
  -684
  -717
  -752
  -788
  -826
  -866
  -908
  -952
Cash from investing activities, $m
  -637
  -677
  -715
  -756
  -798
  -842
  -888
  -936
  -986
  -1,038
  -1,093
  -1,150
  -1,211
  -1,274
  -1,340
  -1,409
  -1,482
  -1,558
  -1,637
  -1,721
  -1,808
  -1,900
  -1,996
  -2,098
  -2,204
  -2,315
  -2,432
  -2,555
  -2,683
  -2,818
Free cash flow, $m
  747
  797
  850
  906
  963
  1,023
  1,086
  1,150
  1,218
  1,288
  1,302
  1,378
  1,457
  1,540
  1,626
  1,716
  1,809
  1,907
  2,009
  2,116
  2,228
  2,345
  2,468
  2,596
  2,730
  2,871
  3,018
  3,172
  3,334
  3,503
Issuance/(repayment) of debt, $m
  119
  125
  130
  135
  141
  146
  152
  159
  165
  172
  180
  188
  196
  205
  214
  223
  234
  244
  256
  268
  280
  294
  308
  322
  338
  354
  371
  389
  408
  428
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  119
  125
  130
  135
  141
  146
  152
  159
  165
  172
  180
  188
  196
  205
  214
  223
  234
  244
  256
  268
  280
  294
  308
  322
  338
  354
  371
  389
  408
  428
Total cash flow (excl. dividends), $m
  865
  922
  980
  1,041
  1,104
  1,170
  1,238
  1,309
  1,383
  1,460
  1,482
  1,566
  1,653
  1,744
  1,840
  1,939
  2,043
  2,152
  2,265
  2,384
  2,509
  2,639
  2,775
  2,918
  3,068
  3,225
  3,389
  3,561
  3,742
  3,932
Retained Cash Flow (-), $m
  -345
  -358
  -372
  -387
  -402
  -418
  -436
  -454
  -473
  -493
  -514
  -537
  -560
  -585
  -612
  -639
  -669
  -699
  -732
  -766
  -802
  -840
  -880
  -922
  -967
  -1,013
  -1,062
  -1,114
  -1,168
  -1,225
Prev. year cash balance distribution, $m
  5
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  82
  88
  94
  101
  107
  114
  122
  129
  137
  145
  153
  162
  172
  181
  191
  202
  213
  224
  236
  249
  262
  276
  290
  306
  321
  338
  355
  374
  393
  413
Cash available for distribution, $m
  526
  564
  608
  654
  702
  751
  802
  855
  910
  967
  968
  1,029
  1,093
  1,159
  1,228
  1,300
  1,374
  1,452
  1,533
  1,618
  1,706
  1,799
  1,895
  1,996
  2,101
  2,212
  2,327
  2,448
  2,574
  2,707
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  504
  516
  529
  539
  544
  545
  542
  534
  523
  507
  460
  439
  416
  389
  361
  330
  299
  267
  236
  206
  176
  149
  124
  102
  82
  65
  50
  38
  28
  20
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company's segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States. The Global segment includes revenue contributions and expenditures linked to business activity in Aruba, Australia, Austria, the Bahamas, Belgium, Bermuda, Brazil, Canada, Cayman Islands, Chile, Denmark, Egypt, England, Finland, France, Germany, Guam, India, Ireland, Kuwait, Luxembourg, Malaysia, Mexico, the Netherlands, Norway, Portugal, Qatar, Romania, Saudi Arabia, Singapore, Slovakia, Spain, Sweden, Switzerland and the United Arab Emirates. The Company's solutions are offered on the unified Cerner Millennium architecture and on the HealtheIntent cloud-based platform.

FINANCIAL RATIOS  of  Cerner (CERN)

Valuation Ratios
P/E Ratio 33.8
Price to Sales 4.5
Price to Book 5.5
Price to Tangible Book
Price to Cash Flow 18.6
Price to Free Cash Flow 56
Growth Rates
Sales Growth Rate 8.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 19.1%
Cap. Spend. - 3 Yr. Gr. Rate 5.7%
Financial Strength
Quick Ratio 14
Current Ratio 0
LT Debt to Equity 13.7%
Total Debt to Equity 14.4%
Interest Coverage 52
Management Effectiveness
Return On Assets 11.6%
Ret/ On Assets - 3 Yr. Avg. 11.6%
Return On Total Capital 14.2%
Ret/ On T. Cap. - 3 Yr. Avg. 14.1%
Return On Equity 16.3%
Return On Equity - 3 Yr. Avg. 15.5%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 83.8%
Gross Margin - 3 Yr. Avg. 83%
EBITDA Margin 30%
EBITDA Margin - 3 Yr. Avg. 30%
Operating Margin 19%
Oper. Margin - 3 Yr. Avg. 19.7%
Pre-Tax Margin 19.1%
Pre-Tax Margin - 3 Yr. Avg. 19.8%
Net Profit Margin 13.3%
Net Profit Margin - 3 Yr. Avg. 13.6%
Effective Tax Rate 30.7%
Eff/ Tax Rate - 3 Yr. Avg. 31.3%
Payout Ratio 0%

CERN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CERN stock intrinsic value calculation we used $5142 million for the last fiscal year's total revenue generated by Cerner. The default revenue input number comes from 2017 income statement of Cerner. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CERN stock valuation model: a) initial revenue growth rate of 7.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for CERN is calculated based on our internal credit rating of Cerner, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Cerner.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CERN stock the variable cost ratio is equal to 81%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CERN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Cerner.

Corporate tax rate of 27% is the nominal tax rate for Cerner. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CERN stock is equal to 1.6%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CERN are equal to 72.3%.

Life of production assets of 10 years is the average useful life of capital assets used in Cerner operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CERN is equal to -4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4785 million for Cerner - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 331 million for Cerner is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Cerner at the current share price and the inputted number of shares is $21.6 billion.

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COMPANY NEWS

▶ 7 (Non-Apple) Tech Stocks to Buy Now   [10:27AM  InvestorPlace]
▶ Cerner: 2Q Earnings Snapshot   [04:24PM  Associated Press]
▶ Cerner Reports Second Quarter 2018 Results   [04:01PM  GlobeNewswire]
▶ DoD adds another billion to Cerners $4.3B contract   [Jul-26-18 03:42PM  American City Business Journals]
▶ CEOs are making even more than you thought   [01:04PM  Yahoo Finance Video]
▶ Cerner's Innovations Campus jumps into next two phases   [Jul-25-18 03:41PM  American City Business Journals]
▶ Cerner adds 100 more employees on its way to hiring 600 in KC   [Jul-23-18 01:46PM  American City Business Journals]
▶ Cerner invests $266M in Lumeris' parent for new technology platform   [Jul-09-18 03:44PM  American City Business Journals]
▶ Cerner settles another overtime suit for $4.5M   [Jul-02-18 03:40PM  American City Business Journals]
▶ House panel will hold VA's 'feet to the fire' on Cerner health record project   [Jun-26-18 02:36PM  American City Business Journals]
▶ Are Cerner Corporations (NASDAQ:CERN) Interest Costs Too High?   [Jun-21-18 01:08PM  Simply Wall St.]
▶ Medical Software Rallies As Health Care's Tech Conversion Accelerates   [Jun-08-18 12:06PM  Investor's Business Daily]
▶ New Strong Sell Stocks for June 7th   [Jun-07-18 07:50AM  Zacks]
▶ Cover Story: Area projects in the office of the future spotlight   [06:00AM  American City Business Journals]
▶ Better Buy: Veeva Systems Inc. vs. Cerner   [May-26-18 07:18AM  Motley Fool]
▶ 11 Greater Washington companies win spots on $1B military health contract   [May-25-18 02:32PM  American City Business Journals]
▶ New Strong Sell Stocks for May 24th   [May-24-18 07:45AM  Zacks]
▶ New Strong Sell Stocks for May 22nd   [May-22-18 10:23AM  Zacks]
▶ Cerner doubles $500M stock repurchase program   [12:10PM  American City Business Journals]
▶ Trump nominates acting VA secretary Wilkie for permanent job   [May-18-18 05:50PM  Associated Press]
▶ Giant VA contract comes through for Cerner   [May-17-18 05:45PM  American City Business Journals]
▶ Report: Cerner ranks No. 1 for global market share, more than double No. 2   [May-16-18 02:49PM  American City Business Journals]
▶ MARKETS: Bulls are taking the reigns   [May-14-18 10:47AM  Yahoo Finance Video]
▶ Mayo Regional Hospital Selects Cerner CommunityWorks   [May-08-18 09:01AM  GlobeNewswire]
▶ EARNINGS: Virtu stock drops into support after big earnings beat   [May-04-18 10:48AM  Yahoo Finance Video]
▶ Cerner is one-third of the way to hiring 600 in KC   [May-03-18 02:55PM  American City Business Journals]
▶ Cerner: 1Q Earnings Snapshot   [May-02-18 04:50PM  Associated Press]
▶ Cerner Reports First Quarter 2018 Results   [04:01PM  GlobeNewswire]
▶ VA update: Leadership shuffle keeps Cerner contract in limbo   [Apr-30-18 04:02PM  American City Business Journals]
▶ CMS' proposed overhaul of EHR reimbursement could be a boon for Cerner   [Apr-27-18 01:14PM  American City Business Journals]
▶ Cerner touts DoD contract progress, but full rollout will wait until 2019   [Apr-24-18 03:58PM  American City Business Journals]
▶ With Cerner contract pending, VA CIO resigns   [Apr-19-18 04:01PM  American City Business Journals]
▶ Cerner to Release First Quarter 2018 Earnings Results May 2   [Apr-16-18 08:30AM  GlobeNewswire]
▶ Cerner lands government client while waiting on VA deal   [02:48PM  American City Business Journals]
▶ Munising Memorial Hospital Selects Cerner CommunityWorks   [Apr-12-18 04:01PM  GlobeNewswire]
▶ Cerner gives five-figure raises to its top execs   [02:27PM  American City Business Journals]
▶ MARKETS: Bulls need to avoid a closing bell selloff today   [Apr-03-18 01:37PM  Yahoo Finance Video]
▶ What Shulkin's ouster might mean for Cerner's multibillion-dollar contract   [Mar-29-18 03:54PM  American City Business Journals]
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