Cencora (NYSE:COR) Announces Quarterly Earnings Results

Cencora (NYSE:COR) announced its quarterly earnings results on Wednesday. The company reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23, Zacks reports. Cencora had a return on equity of 266.62% and a net margin of 0.51%.

Cencora Stock Performance

NYSE:COR traded down $1.21 during midday trading on Friday, hitting $244.92. The company’s stock had a trading volume of 55,520 shares, compared to its average volume of 1,341,219. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. Cencora has a fifty-two week low of $214.77 and a fifty-two week high of $262.26. The firm’s 50 day moving average is $239.08 and its 200-day moving average is $236.51. The firm has a market cap of $47.34 billion, a P/E ratio of 32.66, a P/E/G ratio of 1.59 and a beta of 0.49.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. Cencora’s dividend payout ratio is currently 29.29%.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 50,000 shares of Cencora stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the transaction, the chairman now owns 326,557 shares in the company, valued at $79,670,111.29. The trade was a 13.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the sale, the executive vice president now owns 20,329 shares of the company’s stock, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,187 shares of company stock worth $17,790,912 over the last three months. Company insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the subject of a number of recent research reports. Evercore ISI boosted their target price on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. increased their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target on the stock. UBS Group increased their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Robert W. Baird boosted their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $277.90.

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.