Cencora (NYSE:COR) Trading Down 3.5%

Cencora, Inc. (NYSE:COR)’s stock price traded down 3.5% on Thursday . The stock traded as low as $234.57 and last traded at $234.80. 297,373 shares were traded during trading, a decline of 78% from the average session volume of 1,352,463 shares. The stock had previously closed at $243.40.

Analysts Set New Price Targets

COR has been the topic of a number of research reports. Leerink Partners reiterated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. Wells Fargo & Company lifted their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Robert W. Baird cut their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price target on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $258.13.

Cencora Stock Down 0.6 %

The firm has a 50-day moving average of $232.25 and a two-hundred day moving average of $233.18. The stock has a market capitalization of $46.86 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 1.57 and a beta of 0.44. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last issued its earnings results 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 company had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.92 EPS. As a group, sell-side analysts anticipate that Cencora, Inc. will post 13.61 earnings per share for the current year.

Cencora Dividend Announcement

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

Insider Buying and Selling at Cencora

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The disclosure for this sale can be found here. Insiders sold 4,450,399 shares of company stock valued at $1,070,392,799 in the last quarter. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC acquired a new position in shares of Cencora during the 4th quarter worth about $244,000. Trust Co. of Vermont acquired a new position in shares of Cencora during the fourth quarter valued at about $62,000. Wahed Invest LLC bought a new stake in shares of Cencora in the fourth quarter valued at about $567,000. Vanguard Group Inc. bought a new position in Cencora during the fourth quarter valued at about $4,212,508,000. Finally, Hennessy Advisors Inc. bought a new position in Cencora during the fourth quarter valued at about $3,307,000. 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.