Cencora (NYSE:COR) Trading Up 1.9%

Shares of Cencora, Inc. (NYSE:COR) were up 1.9% during mid-day trading on Tuesday . The company traded as high as $238.74 and last traded at $238.62. Approximately 175,382 shares traded 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 Analyst Weigh In

A number of equities analysts have recently issued reports on COR shares. Mizuho increased their target price on Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 1st. Leerink Partnrs reissued an “outperform” rating on shares of Cencora in a research note on Monday, February 26th. 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. Finally, Barclays started coverage on Cencora in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $242.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.22.

Cencora Stock Up 0.1 %

The firm has a 50 day moving average of $237.53 and a two-hundred day moving average of $214.64. The stock has a market capitalization of $47.60 billion, a PE ratio of 25.99, a P/E/G ratio of 1.79 and a beta of 0.45. The company has a current ratio of 0.88, a quick ratio of 0.52 and a debt-to-equity ratio of 3.94.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, January 31st. The company reported $3.28 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.42. The firm had revenue of $72.25 billion for the quarter, compared to analysts’ expectations of $68.81 billion. Cencora had a return on equity of 323.23% and a net margin of 0.69%. During the same quarter in the prior year, the firm earned $2.71 EPS. Equities research analysts anticipate that Cencora, Inc. will post 13.43 earnings per share for the current year.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Thursday, February 8th. This is a boost from Cencora’s previous quarterly dividend of $0.24. Cencora’s dividend payout ratio is 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 stock in a transaction 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 sale, the insider now owns 26,277,561 shares in the company, valued at approximately $6,186,000,635.01. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Elizabeth S. Campbell sold 6,977 shares of Cencora stock in a transaction on Monday, March 18th. The stock was sold at an average price of $238.12, for a total value of $1,661,363.24. Following the completion of the sale, the executive vice president now owns 8,246 shares of the company’s stock, valued at $1,963,537.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of Cencora stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total value of $991,639,906.95. Following the completion of the sale, the insider now directly owns 26,277,561 shares of the company’s stock, valued at approximately $6,186,000,635.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,288,790 shares of company stock worth $1,009,641,379. 15.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Cencora

A number of hedge funds and other institutional investors have recently made changes to their positions in COR. Trilogy Capital Inc. purchased a new stake in Cencora during the first quarter valued at about $312,000. Iron Horse Wealth Management LLC purchased a new stake in Cencora during the first quarter valued at about $64,000. Baker Ellis Asset Management LLC purchased a new stake in Cencora during the first quarter valued at about $481,000. Grimes & Company Inc. purchased a new stake in Cencora during the first quarter valued at about $291,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Cencora during the first quarter valued at about $1,862,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

About Cencora

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.