Cencora (NYSE:COR) Trading Up 3.5% – Here’s What Happened

Cencora, Inc. (NYSE:COR) shares were up 3.5% during trading on Thursday . The company traded as high as $289.74 and last traded at $289.39. Approximately 1,629,436 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 1,586,762 shares. The stock had previously closed at $279.51.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on COR shares. JPMorgan Chase & Co. raised their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Evercore ISI increased their target price on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lifted their price target on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $280.20.

Cencora Trading Down 3.5 %

The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The firm has a market cap of $54.16 billion, a PE ratio of 39.73, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The company’s 50 day moving average price is $257.28 and its 200 day moving average price is $242.65.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.79%. Cencora’s dividend payout ratio (DPR) is currently 31.29%.

Insider Buying and Selling

In related news, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the transaction, the executive vice president now owns 14,665 shares of the company’s stock, valued at $3,934,326.20. This represents a 21.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,675 shares of company stock worth $8,034,778. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COR. United Bank increased its stake in Cencora by 4.2% in the third quarter. United Bank now owns 5,601 shares of the company’s stock valued at $1,261,000 after purchasing an additional 225 shares during the period. Public Sector Pension Investment Board raised its stake in Cencora by 53.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 6,908 shares of the company’s stock valued at $1,555,000 after acquiring an additional 2,400 shares during the last quarter. Arete Wealth Advisors LLC lifted its position in Cencora by 4.9% during the 3rd quarter. Arete Wealth Advisors LLC now owns 2,412 shares of the company’s stock worth $541,000 after acquiring an additional 113 shares during the period. Hilltop Holdings Inc. purchased a new position in shares of Cencora in the 3rd quarter valued at approximately $387,000. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of Cencora by 116.7% in the third quarter. Integrated Wealth Concepts LLC now owns 8,969 shares of the company’s stock valued at $2,019,000 after purchasing an additional 4,831 shares during the period. 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.