Cencora (NYSE:COR) Sets New 1-Year High – What’s Next?

Shares of Cencora, Inc. (NYSE:COR) reached a new 52-week high on Tuesday . The stock traded as high as $336.07 and last traded at $336.00, with a volume of 858957 shares traded. The stock had previously closed at $332.71.

Wall Street Analyst Weigh In

A number of brokerages have commented on COR. Mizuho increased their price target on shares of Cencora from $316.00 to $334.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Evercore ISI set a $340.00 price target on shares of Cencora in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Cencora from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Finally, UBS Group increased their price target on shares of Cencora from $350.00 to $380.00 and gave the company a “buy” rating in a research report on Monday. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $329.00.

Cencora Trading Up 1.0%

The stock has a market capitalization of $65.14 billion, a P/E ratio of 34.57, a P/E/G ratio of 1.55 and a beta of 0.63. The firm’s 50 day moving average price is $305.00 and its 200 day moving average price is $295.60. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.34 earnings per share. As a group, equities research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is presently 22.63%.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, the chairman owned 305,913 shares of the company’s stock, valued at $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $326.80, for a total value of $1,665,699.60. Following the completion of the sale, the chief executive officer directly owned 37,940 shares of the company’s stock, valued at $12,398,792. The trade was a 11.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,544 shares of company stock valued at $12,230,941 in the last ninety days. 10.80% of the stock is currently owned by insiders.

Institutional Trading of Cencora

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Cencora by 5.3% in the second quarter. Vanguard Group Inc. now owns 22,479,041 shares of the company’s stock worth $6,740,340,000 after acquiring an additional 1,125,661 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Cencora by 8.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock worth $2,682,821,000 after acquiring an additional 787,858 shares during the period. Wellington Management Group LLP lifted its position in Cencora by 7.2% during the first quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company’s stock valued at $1,507,599,000 after buying an additional 363,402 shares during the period. Boston Partners lifted its position in Cencora by 8.1% during the first quarter. Boston Partners now owns 5,411,193 shares of the company’s stock valued at $1,505,984,000 after buying an additional 404,093 shares during the period. Finally, Geode Capital Management LLC lifted its position in Cencora by 6.3% during the second quarter. Geode Capital Management LLC now owns 4,787,609 shares of the company’s stock valued at $1,429,772,000 after buying an additional 284,229 shares during the period. 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.