Cencora (NYSE:COR) Stock Price Up 4.7% – Time to Buy?

Shares of Cencora, Inc. (NYSE:COR) rose 4.7% during mid-day trading on Tuesday . The company traded as high as $236.41 and last traded at $235.35. Approximately 878,551 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 1,412,427 shares. The stock had previously closed at $224.81.

Wall Street Analyst Weigh In

COR has been the topic of a number of recent research reports. Leerink Partners decreased their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Wells Fargo & Company raised their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Robert W. Baird cut their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.44.

Cencora Stock Performance

The business has a 50-day moving average price of $232.64 and a 200-day moving average price of $231.18. The firm has a market capitalization of $46.50 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 1.40 and a beta of 0.44. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. The business had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.92 earnings per share. As a group, sell-side analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Swedbank AB raised its position in shares of Cencora by 2.3% in the third quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock worth $313,863,000 after acquiring an additional 31,104 shares during the period. Washington Capital Management Inc. acquired a new position in shares of Cencora during the 3rd quarter worth about $495,000. Birch Capital Management LLC raised its position in shares of Cencora by 2.5% during the 3rd quarter. Birch Capital Management LLC now owns 23,444 shares of the company’s stock worth $5,277,000 after purchasing an additional 566 shares during the last quarter. NBC Securities Inc. raised its position in shares of Cencora by 3.9% during the 3rd quarter. NBC Securities Inc. now owns 5,680 shares of the company’s stock worth $1,278,000 after purchasing an additional 211 shares during the last quarter. Finally, Occidental Asset Management LLC raised its position in shares of Cencora by 4.3% during the 3rd quarter. Occidental Asset Management LLC now owns 16,193 shares of the company’s stock worth $3,645,000 after purchasing an additional 665 shares during the last quarter. Institutional investors and hedge funds 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.