Cencora (NYSE:COR) Sets New 52-Week High – Here’s What Happened

Cencora, Inc. (NYSE:COR)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $264.36 and last traded at $260.93, with a volume of 579259 shares trading hands. The stock had previously closed at $260.96.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COR shares. JPMorgan Chase & Co. boosted their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Evercore ISI upped their price target on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Mizuho initiated 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. Wells Fargo & Company boosted their target price on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $280.20.

Cencora Price Performance

The company has a market capitalization of $50.81 billion, a PE ratio of 37.27, a P/E/G ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The stock has a 50 day moving average price of $248.23 and a two-hundred day moving average price of $239.31.

Cencora (NYSE:COR) last issued its quarterly earnings data 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 net margin of 0.46% and a return on equity of 328.62%. Equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio is presently 31.29%.

Insider Activity

In other Cencora news, CAO Lazarus Krikorian sold 2,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the sale, the chief accounting officer now directly owns 20,154 shares in the company, valued at $5,241,249.24. This represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Mauch sold 4,970 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $255.00, for a total value of $1,267,350.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,648 shares of company stock valued at $3,382,462. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

A number of institutional investors and hedge funds have recently bought and sold shares of COR. 111 Capital acquired a new position in shares of Cencora during the fourth quarter valued at about $716,000. Members Wealth LLC bought a new position in Cencora during the fourth quarter valued at about $348,000. Centaurus Financial Inc. raised its holdings in Cencora by 37.5% in the 4th quarter. Centaurus Financial Inc. now owns 2,462 shares of the company’s stock valued at $553,000 after acquiring an additional 672 shares in the last quarter. Wood Tarver Financial Group LLC bought a new stake in shares of Cencora in the 4th quarter worth approximately $136,000. Finally, Siemens Fonds Invest GmbH grew its holdings in shares of Cencora by 944.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 19,972 shares of the company’s stock worth $4,645,000 after purchasing an additional 18,060 shares in the last quarter. Institutional investors 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.