Cencora (NYSE:COR) Updates FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Citigroup increased their price target on Cencora from $265.00 to $280.00 and gave the stock a buy rating in a research report on Tuesday. StockNews.com downgraded shares of Cencora from a strong-buy rating to a buy rating in a research report on Thursday. Robert W. Baird lifted their price target on Cencora from $275.00 to $277.00 and gave the company an outperform rating in a research note on Thursday. SVB Leerink started coverage on shares of Cencora in a report on Monday, February 26th. They issued an outperform rating and a $261.00 price objective for the company. Finally, Mizuho boosted their target price on shares of Cencora from $192.00 to $224.00 and gave the stock a neutral rating in a report on Monday, February 5th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cencora presently has a consensus rating of Moderate Buy and a consensus target price of $233.90.

Cencora Trading Down 0.4 %

COR stock traded down $0.79 during midday 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 company has a current ratio of 0.89, a quick ratio of 0.52 and a debt-to-equity ratio of 3.41. The firm has a market cap of $44.67 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.69 and a beta of 0.47. The business has a fifty day moving average price of $238.31 and a two-hundred day moving average price of $218.93. Cencora has a 1-year low of $163.37 and a 1-year high of $246.75.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, beating the consensus estimate of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The company had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the company earned $3.50 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Cencora will post 13.46 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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

Insider Activity

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the stock in a transaction dated 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 transaction, the insider now 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 the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total value of $991,639,906.95. Following the completion of the sale, the insider now directly owns 26,277,561 shares of the company’s stock, valued at $6,186,000,635.01. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gina Clark sold 1,100 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $230.48, for a total value of $253,528.00. Following the sale, the executive vice president now owns 24,802 shares of the company’s stock, valued at approximately $5,716,364.96. The disclosure for this sale can be found here. Insiders sold 4,288,790 shares of company stock worth $1,009,641,379 in the last quarter. 15.80% of the stock is owned by corporate insiders.

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.