Cencora (NYSE:COR) Reaches New 52-Week High at $243.97

Cencora, Inc. (NYSE:COR)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $243.97 and last traded at $243.95, with a volume of 186868 shares changing hands. The stock had previously closed at $242.06.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wells Fargo & Company began coverage on Cencora in a research report on Thursday, December 14th. They set an “equal weight” rating and a $213.00 target price on the stock. Barclays began coverage on Cencora in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $242.00 price objective for the company. Leerink Partnrs restated an “outperform” rating on shares of Cencora in a research report on Monday, February 26th. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 1st. Finally, Mizuho boosted their price objective on shares of Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and an average target price of $214.90.

Cencora Trading Down 0.7 %

The business’s 50-day moving average price is $233.55 and its two-hundred day moving average price is $208.49. The firm has a market cap of $48.47 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 1.85 and a beta of 0.44. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.88 and a quick ratio of 0.52.

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

Cencora Increases Dividend

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

Insider Activity

In other Cencora 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 transaction of $991,639,906.95. Following the transaction, the insider now owns 26,277,561 shares of the company’s stock, valued at $6,186,000,635.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was 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 approximately $6,186,000,635.01. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth S. Campbell sold 6,977 shares of Cencora stock in a transaction dated Monday, March 18th. The shares were 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 in the company, valued at $1,963,537.52. 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 in the last 90 days. 15.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cencora

A number of institutional investors and hedge funds have recently bought and sold shares of COR. State of Wyoming lifted its position in shares of Cencora by 2.6% during the second quarter. State of Wyoming now owns 2,298 shares of the company’s stock worth $442,000 after purchasing an additional 58 shares in the last quarter. Harbour Investments Inc. increased its stake in Cencora by 61.8% during the 1st quarter. Harbour Investments Inc. now owns 165 shares of the company’s stock worth $26,000 after buying an additional 63 shares during the period. Horizon Family Wealth Inc. lifted its holdings in Cencora by 5.8% in the 2nd quarter. Horizon Family Wealth Inc. now owns 1,438 shares of the company’s stock worth $277,000 after buying an additional 79 shares in the last quarter. Kinneret Advisory LLC boosted its position in Cencora by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 4,406 shares of the company’s stock valued at $682,000 after buying an additional 98 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Cencora by 0.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 20,174 shares of the company’s stock valued at $3,343,000 after acquiring an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Company Profile

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.