Research Analysts Set Expectations for Cencora, Inc.’s Q3 2024 Earnings (NYSE:COR)

Cencora, Inc. (NYSE:COR) – Investment analysts at Leerink Partnrs decreased their Q3 2024 EPS estimates for Cencora in a research note issued to investors on Wednesday, May 1st. Leerink Partnrs analyst M. Cherny now anticipates that the company will earn $3.26 per share for the quarter, down from their prior estimate of $3.30. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Cencora’s current full-year earnings is $13.46 per share. Leerink Partnrs also issued estimates for Cencora’s Q4 2024 earnings at $3.35 EPS and Q2 2025 earnings at $4.00 EPS.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 0.67% and a return on equity of 268.67%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.50 earnings per share.

A number of other brokerages have also weighed in on COR. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday. SVB Leerink initiated coverage on shares of Cencora in a research note on Monday, February 26th. They issued an “outperform” rating and a $261.00 price target on the stock. Mizuho raised their price target 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. Robert W. Baird raised their price target on shares of Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Citigroup raised their price target on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $233.90.

Cencora Trading Down 0.4 %

Shares of Cencora stock opened at $223.95 on Friday. The company has a market cap of $44.67 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 1.69 and a beta of 0.47. The firm has a 50-day simple moving average of $238.31 and a two-hundred day simple moving average of $219.15. 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 has a fifty-two week low of $163.37 and a fifty-two week high of $246.75.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $0.51 dividend. 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 22.32%.

Insider Buying and Selling at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the firm’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 transaction of $991,639,906.95. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the firm’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 transaction of $991,639,906.95. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth S. Campbell sold 6,977 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $238.12, for a total transaction of $1,661,363.24. Following the sale, the executive vice president now owns 8,246 shares of the company’s stock, valued at approximately $1,963,537.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,288,790 shares of company stock worth $1,009,641,379. Insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Cencora in the 1st quarter valued at approximately $25,000. Legacy Bridge LLC acquired a new stake in Cencora in the 1st quarter valued at approximately $27,000. WASHINGTON TRUST Co acquired a new stake in Cencora in the 1st quarter valued at approximately $32,000. Hanson & Doremus Investment Management acquired a new stake in Cencora in the 1st quarter valued at approximately $33,000. Finally, OFI Invest Asset Management acquired a new stake in Cencora in the 1st quarter valued at approximately $33,000. Institutional investors and hedge funds own 97.52% 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.