Cencora (NYSE:COR) Updates 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 NYSE COR traded down $0.79 during midday trading on Friday, reaching $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 market capitalization 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. The stock has a 50-day moving average of $238.31 and a 200-day moving average of $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.

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

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid 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 payout ratio is presently 22.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. SVB Leerink began coverage on shares of Cencora in a research note on Monday, February 26th. They set an outperform rating and a $261.00 price target on the stock. Leerink Partnrs reaffirmed an outperform rating on shares of Cencora in a research note on Monday, February 26th. StockNews.com lowered Cencora from a strong-buy rating to a buy rating in a report on Thursday. Robert W. Baird raised their price objective on shares of Cencora from $275.00 to $277.00 and gave the stock an outperform rating in a research note on Thursday. Finally, Mizuho boosted their target price on shares of Cencora from $192.00 to $224.00 and gave the company a neutral rating in a research note on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $233.90.

Insiders Place Their Bets

In related news, CEO Steven H. Collis sold 10,754 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $67,702,698.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the transaction, the insider now directly 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 can be accessed through this link. Also, CEO Steven H. Collis sold 10,754 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was 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 in the company, valued at approximately $67,702,698.24. The disclosure for this sale can be found here. Insiders sold a total of 4,288,790 shares of company stock worth $1,009,641,379 over the last 90 days. 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.