Cencora (NYSE:COR) Reaches New 1-Year High at $198.98

Cencora, Inc. (NYSE:COR)’s stock price hit a new 52-week high on Friday . The company traded as high as $198.98 and last traded at $196.49, with a volume of 79421 shares changing hands. The stock had previously closed at $192.18.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on COR shares. Bank of America upped their price target on shares of Cencora from $200.00 to $212.00 in a research report on Monday, July 17th. Evercore ISI boosted their price objective on shares of Cencora from $210.00 to $225.00 in a research report on Wednesday, October 11th. TheStreet upgraded Cencora from a “c” rating to a “b” rating in a research report on Monday, October 9th. TD Cowen boosted their target price on Cencora from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Finally, StockNews.com started coverage on Cencora in a report on Sunday, October 1st. They issued a “strong-buy” rating on the stock. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.08.

Cencora Stock Up 1.6 %

The company has a current ratio of 0.88, a quick ratio of 0.52 and a debt-to-equity ratio of 4.51. The firm has a market cap of $39.46 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 1.67 and a beta of 0.53. The firm’s 50 day moving average is $185.25 and its two-hundred day moving average is $178.58.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.09. The company had revenue of $66.95 billion during the quarter, compared to analyst estimates of $63.93 billion. Cencora had a net margin of 0.66% and a return on equity of 612.69%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.62 EPS. As a group, research analysts anticipate that Cencora, Inc. will post 11.93 EPS for the current fiscal year.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be issued a $0.51 dividend. This is an increase from Cencora’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, November 10th. Cencora’s dividend payout ratio is 23.63%.

Insider Transactions at Cencora

In other Cencora news, CEO Steven H. Collis sold 25,000 shares of Cencora stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $185.08, for a total value of $4,627,000.00. Following the transaction, the chief executive officer now owns 257,967 shares of the company’s stock, valued at $47,744,532.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Gina Clark sold 10,695 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $187.00, for a total value of $1,999,965.00. Following the completion of the transaction, the executive vice president now directly owns 16,038 shares of the company’s stock, valued at approximately $2,999,106. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Steven H. Collis sold 25,000 shares of Cencora stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $185.08, for a total value of $4,627,000.00. Following the completion of the sale, the chief executive officer now directly owns 257,967 shares in the company, valued at approximately $47,744,532.36. The disclosure for this sale can be found here. Insiders have sold a total of 46,194 shares of company stock valued at $8,581,774 over the last 90 days. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of COR. Harbour Investments Inc. boosted its position 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 acquiring an additional 63 shares during the last quarter. Tilia Fiduciary Partners Inc. boosted its holdings in Cencora by 321.2% during the second quarter. Tilia Fiduciary Partners Inc. now owns 139 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares during the last quarter. Cascade Investment Advisors Inc. bought a new position in Cencora in the first quarter valued at $32,000. Creative Financial Designs Inc. ADV increased its stake in Cencora by 50.9% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 175 shares of the company’s stock valued at $34,000 after buying an additional 59 shares during the last quarter. Finally, Resources Management Corp CT ADV lifted its position in Cencora by 262.1% during the 1st quarter. Resources Management Corp CT ADV now owns 525 shares of the company’s stock worth $37,000 after buying an additional 380 shares in the last quarter. 93.12% of the stock is owned by institutional investors and hedge funds.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. Its 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.