Cencora (NYSE:COR) Trading Up 1.9%

Cencora, Inc. (NYSE:COR) shares were up 1.9% during trading on Tuesday . The stock traded as high as $238.74 and last traded at $238.62. Approximately 175,382 shares changed hands during trading, a decline of 86% from the average daily volume of 1,225,821 shares. The stock had previously closed at $234.21.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on COR shares. SVB Leerink started coverage on Cencora in a research note on Monday, February 26th. They set an “outperform” rating and a $261.00 target price for the company. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 1st. Leerink Partnrs reaffirmed 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 set an “overweight” rating and a $242.00 price objective for the company. Finally, Mizuho upped their price objective on Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.22.

Cencora Price Performance

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 firm has a market capitalization of $47.55 billion, a PE ratio of 25.51, a P/E/G ratio of 1.79 and a beta of 0.45. The company has a fifty day moving average price of $237.44 and a two-hundred day moving average price of $213.83.

Cencora (NYSE:COR) last posted 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. The firm had revenue of $72.25 billion during the quarter, compared to the consensus estimate of $68.81 billion. Cencora had a return on equity of 323.23% and a net margin of 0.69%. During the same period in the prior year, the business earned $2.71 EPS. Sell-side analysts forecast that Cencora, Inc. will post 13.43 earnings per share for the current year.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, February 8th. This is an increase from Cencora’s previous quarterly dividend of $0.24. This represents a $2.04 annualized dividend and a yield of 0.86%. Cencora’s dividend payout ratio is currently 22.22%.

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the transaction, the insider now owns 26,277,561 shares in the company, valued at approximately $6,186,000,635.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cencora news, EVP Gina Clark sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $230.48, for a total transaction of $253,528.00. Following the transaction, the executive vice president now owns 24,802 shares in the company, valued at approximately $5,716,364.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business’s 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 transaction, the insider now owns 26,277,561 shares in the company, valued at approximately $6,186,000,635.01. The disclosure for this sale can be found here. Insiders sold a total of 4,220,472 shares of company stock valued at $993,554,798 in the last ninety days. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

A number of institutional investors and hedge funds have recently modified their holdings of the company. Harbour Investments Inc. grew its holdings in shares of Cencora by 61.8% in the 1st quarter. Harbour Investments Inc. now owns 165 shares of the company’s stock worth $26,000 after acquiring an additional 63 shares during the period. Kinneret Advisory LLC increased its position in Cencora by 2.3% during the first quarter. Kinneret Advisory LLC now owns 4,406 shares of the company’s stock worth $682,000 after buying an additional 98 shares in the last quarter. Rise Advisors LLC purchased a new position in Cencora during the first quarter worth $25,000. Steward Partners Investment Advisory LLC increased its position in Cencora by 0.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 20,174 shares of the company’s stock worth $3,343,000 after buying an additional 103 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its position in Cencora by 1.2% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 9,366 shares of the company’s stock worth $1,552,000 after buying an additional 112 shares in the last quarter. 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.