Leerink Partnrs Brokers Boost Earnings Estimates for Cencora, Inc. (NYSE:COR)

Cencora, Inc. (NYSE:COR) – Equities researchers at Leerink Partnrs upped their FY2024 earnings per share (EPS) estimates for Cencora in a research note issued to investors on Monday, July 8th. Leerink Partnrs analyst M. Cherny now anticipates that the company will post earnings of $13.52 per share for the year, up from their previous forecast of $13.46. 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 $3.22 EPS, Q1 2025 earnings at $3.45 EPS, Q2 2025 earnings at $4.05 EPS, Q3 2025 earnings at $3.70 EPS, Q4 2025 earnings at $3.64 EPS and FY2026 earnings at $16.52 EPS.

Other research analysts also recently issued research reports about the stock. SVB Leerink reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. Citigroup increased their target price on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Robert W. Baird increased their price target on Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.10.

Cencora Price Performance

COR opened at $222.00 on Wednesday. Cencora has a 52-week low of $171.65 and a 52-week high of $246.75. The stock has a market cap of $44.28 billion, a P/E ratio of 24.29, a PEG ratio of 1.55 and a beta of 0.45. The business has a fifty day moving average of $226.68 and a 200 day moving average of $229.13. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.65 by $0.15. The business had revenue of $68.41 billion for 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 business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.50 earnings per share.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Insider Transactions at Cencora

In related news, EVP Gina Clark sold 1,874 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $223.86, for a total value of $419,513.64. Following the completion of the sale, the executive vice president now owns 13,284 shares of the company’s stock, valued at approximately $2,973,756.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Gina Clark sold 1,874 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $223.86, for a total transaction of $419,513.64. Following the completion of the sale, the executive vice president now directly owns 13,284 shares in the company, valued at $2,973,756.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dermot Mark Durcan bought 500 shares of Cencora stock in a transaction dated Friday, May 24th. The stock was acquired at an average price of $218.58 per share, with a total value of $109,290.00. Following the completion of the transaction, the director now directly owns 21,876 shares of the company’s stock, valued at $4,781,656.08. The disclosure for this purchase can be found here. Insiders have sold a total of 1,956,675 shares of company stock valued at $422,352,056 in the last ninety days. 15.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of COR. Vanguard Group Inc. purchased a new stake in shares of Cencora in the 4th quarter valued at $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new position in Cencora in the first quarter valued at approximately $2,183,619,000. JPMorgan Chase & Co. acquired a new stake in Cencora during the 1st quarter worth $1,199,695,000. Boston Partners acquired a new stake in shares of Cencora during the first quarter worth about $1,001,269,000. Finally, Capital Research Global Investors acquired a new position in Cencora during the first quarter worth approximately $650,424,000. 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.