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 $13.55-$13.65 for the period, compared to the consensus earnings per share estimate of $13.47. The company issued revenue guidance of $293.6 billion, compared to the consensus revenue estimate of $289.77 billion. Cencora also updated its FY 2024 guidance to 13.550-13.650 EPS.

Cencora Stock Performance

Shares of Cencora stock traded up $3.11 on Friday, reaching $247.57. The stock had a trading volume of 3,292,432 shares, compared to its average volume of 1,217,035. Cencora has a fifty-two week low of $171.65 and a fifty-two week high of $247.66. The business’s 50-day moving average price is $228.85 and its two-hundred day moving average price is $231.18. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.53 and a current ratio of 0.89. The stock has a market cap of $49.38 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The firm had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.92 EPS. On average, sell-side analysts forecast that Cencora will post 13.56 EPS for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, August 9th. Cencora’s payout ratio is 22.32%.

Analyst Upgrades and Downgrades

COR has been the topic of several recent analyst reports. SVB Leerink restated an outperform rating and issued a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. StockNews.com raised shares of Cencora from a buy rating to a strong-buy rating in a research note on Friday. Wells Fargo & Company boosted their target price on Cencora from $236.00 to $249.00 and gave the stock an equal weight rating in a report on Thursday. Robert W. Baird upped their price target on shares of Cencora from $285.00 to $287.00 and gave the stock an outperform rating in a report on Thursday. Finally, Citigroup lifted their target price on Cencora from $265.00 to $280.00 and gave the company a buy rating in a research report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cencora presently has a consensus rating of Moderate Buy and an average price target of $243.00.

Insider Transactions at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the transaction, the insider now directly owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gina Clark sold 27,093 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $216.07, for a total transaction of $5,853,984.51. Following the transaction, the executive vice president now owns 15,158 shares of the company’s stock, valued at $3,275,189.06. The disclosure for this sale can be found here. Insiders have sold 1,899,112 shares of company stock valued at $408,654,376 over the last ninety days. 15.80% of the stock is owned by company 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.