Cencora (NYSE:COR) Posts Quarterly Earnings Results

Cencora (NYSE:COR) issued its earnings results on Wednesday. The company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.65 by $0.15, Briefing.com reports. The business had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a return on equity of 323.23% and a net margin of 0.69%. The business’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 business earned $3.50 EPS. Cencora updated its FY24 guidance to $13.30-13.50 EPS.

Cencora Trading Down 1.4 %

COR stock traded down $3.29 during midday trading on Thursday, hitting $225.91. 939,993 shares of the company’s stock were exchanged, compared to its average volume of 1,276,087. The business has a 50-day simple moving average of $238.76 and a two-hundred day simple moving average of $218.63. The company has a current ratio of 0.88, a quick ratio of 0.52 and a debt-to-equity ratio of 3.94. The stock has a market capitalization of $45.06 billion, a PE ratio of 24.97, a P/E/G ratio of 1.83 and a beta of 0.47. Cencora has a 1-year low of $163.37 and a 1-year high of $246.75.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on COR shares. Barclays started coverage on Cencora in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $242.00 price objective for the company. Leerink Partnrs restated an “outperform” rating on shares of Cencora in a research note on Monday, February 26th. Robert W. Baird upped their price objective on Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a research note on Thursday. Mizuho upped their price objective on Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Finally, Citigroup upped their target price on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $229.18.

Insiders Place Their Bets

In other Cencora news, CEO Steven H. Collis sold 10,754 shares of the firm’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 owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of Cencora stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven H. Collis sold 10,754 shares of Cencora stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $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 valued at $1,009,641,379 over the last quarter. 15.80% of the stock is owned by 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.