Cencora (NYSE:COR) Reaches New 52-Week High – Here’s Why

Cencora, Inc. (NYSE:COR)’s stock price hit a new 52-week high on Monday . The company traded as high as $262.56 and last traded at $261.65, with a volume of 1502754 shares. The stock had previously closed at $254.58.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Mizuho began coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. Evercore ISI raised their target price on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company boosted their target price on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.90.

Cencora Trading Down 2.6 %

The firm has a market cap of $49.23 billion, a P/E ratio of 36.11, a PEG ratio of 1.31 and a beta of 0.51. The company’s 50 day moving average is $245.81 and its two-hundred day moving average is $238.70. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. On average, sell-side analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.87%. Cencora’s dividend payout ratio is currently 31.29%.

Insiders Place Their Bets

In other Cencora news, EVP Silvana Battaglia sold 5,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now owns 15,374 shares of the company’s stock, valued at approximately $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,970 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the sale, the chief executive officer now directly owns 51,070 shares in the company, valued at approximately $13,022,850. This represents a 8.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,648 shares of company stock worth $3,382,462 over the last three months. 10.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Cencora by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company’s stock valued at $1,990,542,000 after acquiring an additional 78,066 shares during the period. State Street Corp grew its holdings in Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after acquiring an additional 291,867 shares during the period. Bank of America Corp DE raised its position in shares of Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock valued at $1,166,944,000 after acquiring an additional 1,994,256 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Cencora by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after purchasing an additional 338,452 shares during the period. Finally, Boston Partners lifted its stake in Cencora by 2.6% in the fourth quarter. Boston Partners now owns 5,007,100 shares of the company’s stock valued at $1,128,058,000 after buying an additional 125,611 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

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.