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With a market cap of $46.8 billion, Cencora, Inc. (COR) focuses on pharmaceutical distribution and healthcare services. The Conshohocken, Pennsylvania-based company provides extensive solutions including distribution, consulting, and logistics to support healthcare providers, biotechnology, and pharmaceutical manufacturers globally. COR is expected to unveil its fiscal Q4 earnings results before the market opens on Wednesday, Nov. 6.
Before the event, analysts anticipated the prescription drug distributor to report a profit of $3.21 per share, up 12.2% from $2.86 per share in the same quarter last year. The company has consistently surpassed Wall Street's earnings projections in the past four quarters. COR exceeded the consensus estimate by a margin of 5% in the last reported quarter.
For fiscal 2024, analysts expect COR to report EPS of $13.64, up 13.8% from $11.99 in fiscal 2023.
Over the past 52 weeks, Cencora's shares have risen nearly 24%, underperforming the S&P 500 Index's ($SPX) 38.7% gain. But the stock has outpaced the Health Care Select Sector SPDR Fund's (XLV) 17.5% return over the same period.
Shares of Cencora rose over 2.9% on Jul. 31 due to its raised annual profit forecast to a range of $13.55 per share to $13.65 per share, driven by strong demand for high-priced specialty medicines and biosimilars within its U.S. healthcare segment. The company also reported better-than-expected Q3 adjusted EPS of $3.34 and revenue of $74.2 billion. Additionally, robust sales in its core specialty drug market contributed to nearly 12% growth in U.S. revenue, signaling sustained momentum and strong market positioning.
Analysts' consensus rating on COR stock is cautiously optimistic, with a "Moderate Buy" overall rating. Out of 15 analysts covering the stock, opinions include 10 "Strong Buys" and five "Holds." This configuration is slightly less bullish than three months ago, with 11 analysts suggesting a "Strong Buy." As of writing, COR is trading below the average analyst price target of $260.86.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
