Cencora (NYSE:COR) Trading Up 1.9%

Cencora, Inc. (NYSE:COR) shares were up 1.9% during mid-day trading on Tuesday . The stock 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 Analysts Forecast Growth

Several research firms recently weighed in on COR. StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 1st. Mizuho increased their price target on Cencora from $192.00 to $224.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Barclays began coverage on Cencora in a report on Wednesday, January 3rd. They set an “overweight” rating and a $242.00 price target on the stock. SVB Leerink began coverage on Cencora in a report on Monday, February 26th. They set an “outperform” rating and a $261.00 price target on the stock. Finally, Leerink Partnrs restated an “outperform” rating on shares of Cencora in a report on Monday, February 26th. Three investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $218.22.

Cencora Stock Performance

The company has a quick ratio of 0.52, a current ratio of 0.88 and a debt-to-equity ratio of 3.94. The business has a 50 day simple moving average of $237.53 and a two-hundred day simple moving average of $214.64. The firm has a market cap of $47.60 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 1.79 and a beta of 0.45.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $3.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.42. Cencora had a return on equity of 323.23% and a net margin of 0.69%. The business had revenue of $72.25 billion for the quarter, compared to the consensus estimate of $68.81 billion. During the same quarter in the prior year, the company earned $2.71 EPS. As a group, equities research analysts forecast 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. Stockholders of record on Friday, February 9th were given a dividend of $0.51 per share. This is an increase from Cencora’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.85%. Cencora’s dividend payout ratio is presently 22.22%.

Insider Transactions at Cencora

In other news, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Steven H. Collis sold 10,754 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly 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. In the last 90 days, insiders have sold 4,288,790 shares of company stock valued at $1,009,641,379. 15.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Cencora

A number of institutional investors have recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in Cencora during the first quarter worth $25,000. CVA Family Office LLC acquired a new position in Cencora during the first quarter worth $34,000. Harbour Investments Inc. boosted its stake in Cencora by 61.8% during the first quarter. Harbour Investments Inc. now owns 165 shares of the company’s stock worth $26,000 after buying an additional 63 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in Cencora during the first quarter worth $43,000. Finally, MBM Wealth Consultants LLC acquired a new position in Cencora during the fourth quarter worth $41,000. 97.52% of the stock is owned by institutional investors and hedge funds.

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.