Cencora, Inc. (NYSE:COR) to Post Q3 2024 Earnings of $3.26 Per Share, Leerink Partnrs Forecasts

Cencora, Inc. (NYSE:COR) – Equities research analysts at Leerink Partnrs lowered their Q3 2024 earnings estimates for shares of Cencora in a report issued on Wednesday, May 1st. Leerink Partnrs analyst M. Cherny now anticipates that the company will post earnings per share of $3.26 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 $13.44 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 posted its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.65 by $0.15. The firm had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. Cencora’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.50 EPS.

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

Cencora Trading Down 0.3 %

Shares of COR stock opened at $224.00 on Friday. Cencora has a fifty-two week low of $163.37 and a fifty-two week high of $246.75. The company has a 50 day moving average price of $238.31 and a 200 day moving average price of $218.93. The stock has a market capitalization of $44.68 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.75 and a beta of 0.47. 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 Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

Insider Activity

In other Cencora news, CEO Steven H. Collis sold 10,754 shares of Cencora 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 transaction, 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 filing with the SEC, which is available at this link. In related news, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction on Tuesday, April 16th. The shares were 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 in the company, valued at approximately $67,702,698.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gina Clark sold 1,100 shares of Cencora stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $230.48, for a total transaction of $253,528.00. Following the completion of the transaction, the executive vice president now owns 24,802 shares in the company, valued at $5,716,364.96. The disclosure for this sale can be found here. In the last three months, insiders sold 4,288,790 shares of company stock valued at $1,009,641,379. Insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

Hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC purchased a new stake in shares of Cencora during the first quarter worth approximately $25,000. Legacy Bridge LLC purchased a new position in Cencora during the 1st quarter worth $27,000. WASHINGTON TRUST Co purchased a new position in Cencora during the 1st quarter worth $32,000. Concord Wealth Partners acquired a new stake in shares of Cencora in the 1st quarter worth $33,000. Finally, Hanson & Doremus Investment Management purchased a new stake in shares of Cencora in the first quarter valued at about $33,000. 97.52% of the stock is owned by institutional investors and hedge funds.

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.