Cencora (NYSE:COR) Stock Price Up 4.7% – Should You Buy?

Cencora, Inc. (NYSE:COR)’s share price rose 4.7% during trading on Tuesday . The stock 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 Analysts Forecast Growth

COR has been the subject of several research reports. Leerink Partners lowered their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Robert W. Baird decreased their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. Evercore ISI lowered their target price on Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company upped their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $259.44.

Cencora Stock Down 0.4 %

The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The company has a market capitalization of $47.00 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.40 and a beta of 0.44. The business’s 50 day moving average is $232.42 and its 200 day moving average is $231.15.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The firm had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.92 earnings per share. Sell-side analysts anticipate that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio is presently 22.32%.

Insider Transactions at Cencora

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC acquired a new stake in shares of Cencora during the fourth quarter valued at about $244,000. CWM LLC purchased a new stake in Cencora in the first quarter valued at approximately $2,767,000. NBC Securities Inc. acquired a new position in Cencora during the first quarter worth $976,000. GAMMA Investing LLC purchased a new position in shares of Cencora during the first quarter worth $495,000. Finally, First Hawaiian Bank purchased a new position in shares of Cencora during the first quarter worth $1,621,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

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.