Leerink Partnrs Weighs in on Cencora, Inc.’s Q3 2024 Earnings (NYSE:COR)

Cencora, Inc. (NYSE:COR) – Investment analysts at Leerink Partnrs lowered their Q3 2024 EPS estimates for shares of Cencora in a research note 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 previous forecast of $3.30. Leerink Partnrs 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.

Other equities research analysts have also issued reports about the company. SVB Leerink initiated coverage on Cencora in a research report on Monday, February 26th. They set an “outperform” rating and a $261.00 price target on the stock. Citigroup raised their price target on shares of Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird boosted their price objective on shares of Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research report on Thursday. Mizuho increased their price objective on shares of Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Finally, StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.90.

Cencora Price Performance

Shares of COR opened at $224.00 on Friday. Cencora has a 52 week low of $163.37 and a 52 week high of $246.75. The company has a current ratio of 0.89, a quick ratio of 0.52 and a debt-to-equity ratio of 3.41. The firm has a market cap of $44.68 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.75 and a beta of 0.47. The stock has a 50 day moving average of $238.31 and a 200-day moving average of $218.93.

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

Institutional Investors Weigh In On Cencora

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Cencora during the 1st quarter valued at $25,000. Legacy Bridge LLC bought a new position in Cencora during the first quarter valued at about $27,000. WASHINGTON TRUST Co acquired a new position in Cencora during the first quarter worth about $32,000. Concord Wealth Partners bought a new stake in Cencora in the first quarter worth about $33,000. Finally, Hanson & Doremus Investment Management bought a new stake in Cencora in the first quarter worth about $33,000. Institutional investors own 97.52% of the company’s stock.

Insider Activity

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 26,277,561 shares of the company’s stock, valued at approximately $6,186,000,635.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of Cencora stock in a transaction dated 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 sale, the insider now directly owns 26,277,561 shares in the company, valued at $6,186,000,635.01. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Robert P. Mauch sold 57,564 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $235.09, for a total transaction of $13,532,720.76. Following the completion of the transaction, the chief operating officer now owns 24,412 shares of the company’s stock, valued at approximately $5,739,017.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,288,790 shares of company stock valued at $1,009,641,379. Insiders own 15.80% of the company’s stock.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.51 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.91%. Cencora’s payout ratio is currently 22.32%.

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.