Cencora (NYSE:COR) Share Price Crosses Above 200 Day Moving Average of $212.60

Cencora, Inc. (NYSE:COR)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $212.60 and traded as high as $238.44. Cencora shares last traded at $235.64, with a volume of 808,634 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Mizuho boosted their price objective on Cencora from $192.00 to $224.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. SVB Leerink started coverage on Cencora in a research note on Monday, February 26th. They issued an “outperform” rating and a $261.00 price objective on the stock. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 1st. Barclays started coverage on Cencora in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $242.00 price target on the stock. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cencora in a research note on Monday, February 26th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus 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 business has a fifty day simple moving average of $237.46 and a 200 day simple moving average of $212.60. The stock has a market capitalization of $47.01 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 1.84 and a beta of 0.45.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.42. The firm had revenue of $72.25 billion during the quarter, compared to analyst estimates 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 previous year, the company posted $2.71 EPS. On average, analysts expect that Cencora, Inc. will post 13.43 earnings per share for the current year.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 9th were issued a $0.51 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This is a positive change from Cencora’s previous quarterly dividend of $0.24. This represents a $2.04 annualized dividend and a dividend yield of 0.87%. Cencora’s dividend payout ratio is currently 22.22%.

Insider Activity

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 stock was sold at an average price of $238.12, for a total value of $1,661,363.24. Following the completion of the transaction, the executive vice president now directly owns 8,246 shares of the company’s stock, valued at $1,963,537.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Elizabeth S. Campbell sold 6,977 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 8,246 shares in the company, valued at $1,963,537.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gina Clark sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $230.48, for a total value of $253,528.00. Following the completion of the transaction, the executive vice president now owns 24,802 shares in the company, valued at approximately $5,716,364.96. 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 over the last three months. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

Several institutional investors have recently bought and sold shares of COR. Vanguard Group Inc. purchased a new stake in shares of Cencora during the fourth quarter worth $4,212,508,000. Price T Rowe Associates Inc. MD lifted its position in shares of Cencora by 2,004.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,171,292 shares of the company’s stock worth $691,225,000 after acquiring an additional 3,973,094 shares in the last quarter. Norges Bank purchased a new stake in shares of Cencora during the fourth quarter worth $261,294,000. Invesco Ltd. lifted its position in shares of Cencora by 42.3% during the first quarter. Invesco Ltd. now owns 2,079,491 shares of the company’s stock worth $321,717,000 after acquiring an additional 618,248 shares in the last quarter. Finally, Woodline Partners LP lifted its position in shares of Cencora by 903.4% during the second quarter. Woodline Partners LP now owns 679,012 shares of the company’s stock worth $130,662,000 after acquiring an additional 611,339 shares in the last quarter. 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.