Cencora (NYSE:COR) Issues FY24 Earnings Guidance

Cencora (NYSE:COR - Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. 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 Stock Down 4.1 %

Shares of COR traded down $9.82 during midday trading on Wednesday, hitting $229.23. 3,291,625 shares of the company's stock traded hands, compared to its average volume of 1,280,434. Cencora has a 1 year low of $163.37 and a 1 year high of $246.75. The firm's fifty day moving average is $238.85 and its 200-day moving average is $218.56. 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 $45.73 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 1.83 and a beta of 0.45.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $3.28 EPS for the quarter, beating the consensus estimate of $2.86 by $0.42. Cencora had a return on equity of 323.23% and a net margin of 0.69%. The firm had revenue of $72.25 billion during the quarter, compared to analyst estimates of $68.81 billion. During the same quarter in the prior year, the business posted $2.71 EPS. As a group, sell-side analysts anticipate that Cencora will post 13.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on COR shares. Citigroup increased their price objective on Cencora from $265.00 to $280.00 and gave the company a buy rating in a report on Tuesday. SVB Leerink started coverage on Cencora in a research report on Monday, February 26th. They issued an outperform rating and a $261.00 target price on the stock. Leerink Partnrs reissued an outperform rating on shares of Cencora in a research report on Monday, February 26th. Barclays started coverage on Cencora in a research report on Wednesday, January 3rd. They issued an overweight rating and a $242.00 target price on the stock. Finally, Mizuho upped their target price on Cencora from $192.00 to $224.00 and gave the company a neutral rating in a research report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cencora presently has a consensus rating of Moderate Buy and an average price target of $224.40.

Insiders Place Their Bets

In other Cencora news, EVP Elizabeth S. Campbell sold 6,977 shares of the stock in a transaction dated 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 directly owns 8,246 shares of the company's stock, valued at approximately $1,963,537.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Elizabeth S. Campbell sold 6,977 shares of the stock in a transaction dated Monday, March 18th. The shares were 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 directly owns 8,246 shares of the company's stock, valued at approximately $1,963,537.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction dated 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 $67,702,698.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,288,790 shares of company stock valued at $1,009,641,379. 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.