Cencora (NYSE:COR) Shares Cross Above Two Hundred Day Moving Average of $210.07

Cencora, Inc. (NYSE:CORGet Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $210.07 and traded as high as $244.52. Cencora shares last traded at $243.08, with a volume of 961,388 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently commented on COR shares. Wells Fargo & Company started coverage on shares of Cencora in a research note on Thursday, December 14th. They set an “equal weight” rating and a $213.00 price objective on the stock. Barclays started coverage on shares of Cencora in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $242.00 price target on the stock. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 1st. Mizuho lifted their price target on shares of Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Finally, SVB Leerink assumed coverage on shares of Cencora in a research report on Monday, February 26th. They issued an “outperform” rating and a $261.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $218.22.

Check Out Our Latest Report on Cencora

Cencora Stock Performance

The stock has a market capitalization of $48.49 billion, a PE ratio of 26.48, a PEG ratio of 1.86 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. The firm’s 50-day simple moving average is $235.04 and its two-hundred day simple moving average is $210.07.

Cencora (NYSE:CORGet Free Report) last posted its earnings results on Wednesday, January 31st. The company reported $3.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.42. The business had revenue of $72.25 billion for the quarter, compared to analysts’ expectations of $68.81 billion. Cencora had a net margin of 0.69% and a return on equity of 323.23%. During the same quarter in the previous year, the firm posted $2.71 earnings per share. On average, equities research analysts expect that Cencora, Inc. will post 13.43 earnings per share for the current fiscal year.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were given a $0.51 dividend. The ex-dividend date was Thursday, February 8th. This is a positive change from Cencora’s previous quarterly dividend of $0.24. This represents a $2.04 dividend on an annualized basis and a yield of 0.84%. Cencora’s payout ratio is 22.22%.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth S. Campbell sold 6,977 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $238.12, for a total transaction of $1,661,363.24. Following the transaction, the executive vice president now directly owns 8,246 shares in the company, valued at $1,963,537.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were sold at an average price of $235.41, for a total value of $991,639,906.95. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth S. Campbell sold 6,977 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $238.12, for a total transaction of $1,661,363.24. Following the completion of the transaction, the executive vice president now owns 8,246 shares in the company, valued at $1,963,537.52. The disclosure for this sale can be found here. Insiders have sold a total of 4,220,472 shares of company stock worth $993,554,798 over the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

Large investors have recently bought and sold shares of the business. State of Wyoming increased its stake in Cencora by 2.6% in the second quarter. State of Wyoming now owns 2,298 shares of the company’s stock valued at $442,000 after purchasing an additional 58 shares in the last quarter. Harbour Investments Inc. increased its stake in Cencora by 61.8% in the first quarter. Harbour Investments Inc. now owns 165 shares of the company’s stock valued at $26,000 after purchasing an additional 63 shares in the last quarter. Kinneret Advisory LLC increased its stake in Cencora by 2.3% in the first quarter. Kinneret Advisory LLC now owns 4,406 shares of the company’s stock valued at $682,000 after purchasing an additional 98 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Cencora by 0.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 20,174 shares of the company’s stock valued at $3,343,000 after purchasing an additional 103 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its stake in Cencora by 1.2% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 9,366 shares of the company’s stock valued at $1,552,000 after purchasing an additional 112 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Company Profile

(Get Free Report)

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.

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