Cencora (NYSE:COR) Hits New 1-Year High – Here’s What Happened

Shares of Cencora, Inc. (NYSE:COR) reached a new 52-week high during trading on Tuesday . The company traded as high as $280.70 and last traded at $278.17, with a volume of 1916693 shares. The stock had previously closed at $275.21.

Analyst Ratings Changes

COR has been the topic of several research reports. Mizuho began coverage on Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price on the stock. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Evercore ISI increased their target price on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lifted their price target 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. Finally, Wells Fargo & Company boosted their price objective on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average target price of $280.20.

Cencora Stock Up 1.1 %

The firm’s 50 day moving average price is $254.53 and its two-hundred day moving average price is $241.53. The firm has a market capitalization of $53.94 billion, a PE ratio of 39.57, a P/E/G ratio of 1.31 and a beta of 0.51. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.79%. Cencora’s dividend payout ratio is presently 31.29%.

Insider Activity

In other news, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the sale, the executive vice president now owns 15,374 shares in the company, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the transaction, the chairman now directly owns 317,913 shares in the company, valued at $85,680,732.63. The trade was a 4.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,675 shares of company stock worth $8,034,778. 10.80% of the stock is currently owned by insiders.

Institutional Trading of Cencora

Several institutional investors and hedge funds have recently bought and sold shares of COR. JFS Wealth Advisors LLC raised its position in shares of Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 46 shares in the last quarter. Banque Transatlantique SA bought a new stake in Cencora during the fourth quarter valued at $29,000. SBI Securities Co. Ltd. bought a new position in shares of Cencora in the 4th quarter worth about $30,000. Householder Group Estate & Retirement Specialist LLC lifted its position in shares of Cencora by 85.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after buying an additional 69 shares during the last quarter. Finally, Kentucky Trust Co acquired a new position in shares of Cencora in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

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.