Cencora (NYSE:COR) Posts Earnings Results

Cencora (NYSE:COR) issued its quarterly earnings results on Wednesday. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15, Briefing.com reports. The firm had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.50 earnings per share. Cencora updated its FY24 guidance to $13.30-13.50 EPS.

Cencora Trading Down 0.4 %

NYSE COR traded down $0.79 during trading on Friday, hitting $223.95. The stock had a trading volume of 2,222,046 shares, compared to its average volume of 1,292,259. The firm has a 50 day moving average price of $238.31 and a 200 day moving average price of $218.93. The company has a market capitalization of $44.67 billion, a PE ratio of 24.51, a PEG ratio of 1.69 and a beta of 0.47. The company has a quick ratio of 0.52, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. Cencora has a twelve month low of $163.37 and a twelve month high of $246.75.

Cencora Dividend Announcement

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

Analyst Upgrades and Downgrades

COR has been the topic of several recent research reports. SVB Leerink started coverage on Cencora in a report on Monday, February 26th. They set an “outperform” rating and a $261.00 target price on the stock. Robert W. Baird lifted their price target on Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a report on Thursday. Mizuho raised their price objective 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. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cencora in a research note on Monday, February 26th. Finally, Citigroup raised their price target on shares of Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus target price of $233.90.

Insider Transactions at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the company’s stock in a transaction dated 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 owns 26,277,561 shares in the company, valued at approximately $6,186,000,635.01. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the completion of the transaction, the insider now owns 26,277,561 shares in the company, valued at $6,186,000,635.01. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Robert P. Mauch sold 57,564 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $235.09, for a total value of $13,532,720.76. Following the completion of the sale, the chief operating officer now owns 24,412 shares in the company, valued at $5,739,017.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,288,790 shares of company stock valued at $1,009,641,379. 15.80% of the stock is currently owned by company insiders.

About Cencora

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.