Last $64.37 USD
Change Today +0.64 / 1.00%
Volume 2.4M
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As of 8:10 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

cerner corp (CERN) Key Developments

Cerner Corporation Enters into Master Note Purchase Agreement

On December 4, 2014, Cerner Corporation entered into a Master Note Purchase Agreement with the Purchasers listed therein, pursuant to which the Company will issue and sell an aggregate principal amount of $500,000,000 in Senior Notes consisting of $225,000,000 aggregate principal amount of 3.18% Senior Notes, Series 2015-A, due February 15, 2022 (Series 2015-A Notes"); $200,000,000 aggregate principal amount of 3.58% Senior Notes, Series 2015-B, due February 14, 2025 (Series 2015-B Notes"); and $75,000,000 aggregate principal amount of Floating Rate Senior Notes, Series 2015-C, due February 15, 2022 (Series 2015-C Notes" and together with the Series 2015-A Notes and Series 2015-B Notes, the Notes"). The payment obligations under the Notes are guaranteed by certain existing and future Subsidiary Guarantors of the Company. The company will apply the proceeds of the sale of the Notes for general corporate purposes. The Series 2015-A Notes will accrue interest on the unpaid balance thereof at the rate of 3.18% per annum from January 29, 2015, payable semiannually, on each February 15 and August 15 in each year, commencing on August 15, 2015, until the principal has become due and payable on February 15, 2022. The Series 2015-B Notes will accrue interest on the unpaid balance thereof at the rate of 3.58% per annum from January 29, 2015, payable semiannually, on each February 15 and August 15 in each year, commencing on August 15, 2015, until the principal has become due and payable on February 14, 2025. The Series 2015-C Notes will accrue interest on the unpaid balance thereof at a floating rate equal to the Adjusted LIBOR Rate from time to time, payable quarterly on each February 15, May 15, August 15 and November 15 in each year, commencing on May 15, 2015, until the principal has become due and payable on February 15, 2022. The Notes will be sold to accredited investors in a private offering exempt from registration under the Securities Act of 1933, as amended (the Securities Act"), that is expected to close on January 29, 2015.

Cerner Corporation and Livongo Health Announces Agreement to Help Health Care Providers and Patients Better Manage Diabetes

Cerner Corporation announced a multi-year agreement with Livongo Health ™ to connect diabetes screening data collected from 'smart' consumer devices with Cerner health care clients. For people with diabetes, this can mean more effective self-management and a better use of time with their clinician. For care teams, this provides near real-time access to patient information, enabling quick interventions when a patient might be headed toward trouble.

Cerner Corporation to Present Comprehensive Preventive Care Solutions at Cerner Health Conference

Cerner Corporation announced it will present its Preventive Care Advisor solution during the Cerner Health Conference in Kansas City. The solution delivers real-time lists of eligible Medicare-approved preventive screenings, which can help improve care and overall patient wellness. Another solution to be presented at CHC is Cerner Virtual Patient Observer, a proprietary overseer system to monitor high fall risk and behavioral patients. It utilizes Microsoft's Kinect sensor system to detect risky patient movement in a hospital or home environment. With Cerner Virtual Patient Observer, a nurse technician can monitor multiple patient rooms from one central monitoring station and quickly intervene. Scott Leftwich and Cerner Senior Director Caleb Anderson will present the Preventive Care Advisor(TM) solution on Nov. 5, at CHC, which runs Nov. 2-5. Cerner's Virtual Patient Observer(TM) solution for fall prevention will also be demonstrated.

Truven Health Analytics Announces Agreement with Cerner Corporation to Resell its Micromedex(R) Carenotes(R) Product

Truven Health Analytics announced an agreement with Cerner Corporation to resell its Micromedex(R) CareNotes(R) product, a part of the Patient Connect Suite of patient and consumer education and engagement solutions. The evidence-based, health literacy standardized resources in CareNotes will be accessible directly from Cerner's EHR by clinicians in Acute Care and Ambulatory facilities and will include resources for the Emergency Department, Inpatient Discharge Instructions, General Health Summaries, Pre-care, Inpatient, Laboratory and Medication Education, among other tools and content, in multiple languages. The addition of CareNotes allows clinicians using Cerner solutions in virtually any care setting to seamlessly access, from within Cerner applications, trusted, evidence-based Micromedex CareNotes patient education resources. CareNotes can be used by provider organizations for Meaningful Use (MU) attestation as requirements evolve; and the integrated access helps clinicians increase efficiency, adoption, and use of relevant, meaningful education for patients and family members. CareNotes patient departure instructions and education documents are written at a 5th to 7th grade reading comprehension level that helps to reach Joint Commission and Meaningful Use (MU) standards, and include: CareNotes-Concise patient-handouts and discharge instructions covering disease, condition, treatment and procedure for pre- and post-treatment patient care, self-care, diet, and exercise topics-for every venue of care. Medication Instructions-Concise patient-handouts on the most commonly prescribed medications to guide patients on how to take their medications, what to avoid while taking these medications, precautions to be aware of, and possible side effects. Consumer Lab Education-Concise patient-handouts to help patients understand procedures for frequently performed tests, including lab descriptions, results interpretation, risks, and descriptions of how the test is done, including how it will feel, and what follow-up is necessary.

Cerner Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 27, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2014 and for Fiscal Year 2015

Cerner Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 27, 2014. For the quarter, the company reported revenue of $840.1 million an increase of 15% compared to $727.8 million in the year-ago period. Adjusted net earnings for third quarter 2014 were $145.3 million, compared to $123.6 million of adjusted net earnings in the third quarter of 2013. Adjusted diluted earnings per share were $0.42 in the third quarter of 2014, an increase of 20% compared to $0.35 of adjusted diluted earnings per share in the year-ago quarter. GAAP net earnings were $129 million or $0.37 per diluted share against third quarter 2013 GAAP net earnings of $115.3 million and diluted earnings per share were $0.33. Operating cash flow was $220 million. Capital expenditures were $68 million. Free cash flow, defined as operating cash flow less capital expenditures and capitalized software, was $107 million. Operating earnings were $188,154,000 against $169,238,000 for the same period in the last year. Earnings before income taxes were $190,335,000 against $172,747,000 for the same period in the last year. For the nine months, total revenues were $2,476,672,000 against $2,115,420,000 for the same period in the last year. Operating earnings were $557,790,000 against $492,263,000 for the same period in the last year. Earnings before income taxes were $565,698,000 against $501,549,000 for the same period in the last year. Net earnings were $377,561,000 or $1.08 per diluted share against $338,291,000 or $0.96 per diluted share for the same period in the last year. Adjusted diluted earnings per share were $1.18 against $1.02 for the same period in the last year. Cash flows from operating activities (GAAP) were $623,579,000 against $554,385,000 for the same period in the last year. Capital purchases were $200,372,000 against $218,406,000 for the same period in the last year. Free cash flow (non-GAAP) was $292,446,000 against $210,028,000 for the same period in the last year. The company provided earnings guidance for the fourth quarter and full year of 2014 and for fiscal year 2015. For the quarter, the company expects revenue of $880 million to $915 million and adjusted EPS is seen at $0.46 to $0.47. The company expects tax rate to be between 33% and 34%. The company expects capital expenditures to be $260 million to $280 million for the year, which is down from $353 million in 2013. For the year 2015, the company expects adjusted EPS to be in a range of $2.05 to $2.15 when include estimated accretion from the acquisition. For revenue, the company expects a combined revenue of $4.8 billion to $5 billion.

 

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CERN

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Valuation CERN Industry Range
Price/Earnings 51.6x
Price/Sales 6.9x
Price/Book 6.5x
Price/Cash Flow 50.2x
TEV/Sales 6.4x
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