Cencora (NYSE:COR) Stock Price Up 4.7% – Time to Buy?

Cencora, Inc. (NYSE:COR) 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 traded hands during 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 Analyst Weigh In

A number of research analysts have recently commented on COR shares. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Bank of America restated a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Wells Fargo & Company raised their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Evercore ISI reduced their price objective on Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Cencora presently has an average rating of “Moderate Buy” and a consensus target price of $259.44.

Cencora Stock Up 3.7 %

The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The firm has a market cap of $46.50 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. The firm has a 50 day moving average price of $232.64 and a 200-day moving average price of $231.18.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same period last year, the company posted $2.92 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities analysts predict that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction 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 sale, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The trade was 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 Trading of Cencora

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC purchased a new stake in Cencora during the 1st quarter valued at $25,000. New Millennium Group LLC purchased a new stake in Cencora during the 2nd quarter valued at $26,000. TCTC Holdings LLC purchased a new position in shares of Cencora in the 1st quarter worth $29,000. TFO Wealth Partners LLC purchased a new position in shares of Cencora in the 1st quarter worth $30,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Cencora in the 2nd quarter worth $30,000. Hedge funds and other institutional investors 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.