Cencora (NYSE:COR) Releases FY24 Earnings Guidance

Cencora (NYSE:COR) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $13.30-13.50 for the period, compared to the consensus earnings per share estimate of $13.45.

Cencora Price Performance

Shares of COR traded down $0.79 during trading hours on Friday, hitting $223.95. 2,222,046 shares of the stock were exchanged, compared to its average volume of 1,292,259. The stock’s 50-day moving average price is $238.31 and its two-hundred day moving average price is $218.93. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.52 and a current ratio of 0.89. The company has a market cap of $44.67 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 1.69 and a beta of 0.47. Cencora has a 12-month low of $163.37 and a 12-month high of $246.75.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. The business had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.50 earnings per share. Research analysts expect that Cencora will post 13.46 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. Cencora’s payout ratio is presently 22.32%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Robert W. Baird boosted their price target on shares of Cencora from $275.00 to $277.00 and gave the stock an outperform rating in a research report on Thursday. StockNews.com lowered shares of Cencora from a strong-buy rating to a buy rating in a research report on Thursday. Mizuho boosted their price target on shares of Cencora from $192.00 to $224.00 and gave the stock a neutral rating in a research report on Monday, February 5th. Citigroup boosted their price target on shares of Cencora from $265.00 to $280.00 and gave the stock a buy rating in a research report on Tuesday. Finally, Leerink Partnrs reiterated an outperform rating on shares of Cencora in a report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $233.90.

Insider Activity

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total value of $991,639,906.95. Following the sale, the insider now directly owns 26,277,561 shares of the company’s stock, valued at approximately $6,186,000,635.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Steven H. Collis sold 10,754 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the sale, the insider now directly owns 26,277,561 shares in the company, valued at $6,186,000,635.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,288,790 shares of company stock valued at $1,009,641,379. Company insiders own 15.80% of the company’s stock.

Cencora Company Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.