Cencora, Inc. (NYSE:COR - Get Free Report) shares hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $250.42 and last traded at $247.21, with a volume of 106024 shares. The stock had previously closed at $245.38.
The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.21 by $0.13. The company had revenue of $79.05 billion during the quarter, compared to the consensus estimate of $77.68 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%.
Cencora Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.89%. This is a boost from Cencora's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. Cencora's dividend payout ratio is presently 22.15%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Leerink Partners reduced their target price on Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Wells Fargo & Company upped their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an "equal weight" rating in a report on Thursday, August 1st. Barclays increased their price objective on shares of Cencora from $263.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Finally, Bank of America reissued a "neutral" rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Cencora has a consensus rating of "Moderate Buy" and a consensus target price of $271.20.
View Our Latest Analysis on Cencora
Insider Buying and Selling
In other news, Chairman Steven H. Collis sold 21,509 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.80% of the stock is currently owned by company insiders.
Institutional Trading of Cencora
Institutional investors and hedge funds have recently modified their holdings of the business. New Millennium Group LLC acquired a new position in Cencora during the second quarter worth about $26,000. TCTC Holdings LLC acquired a new position in shares of Cencora during the first quarter worth $29,000. TFO Wealth Partners LLC bought a new position in shares of Cencora in the 1st quarter valued at $30,000. MFA Wealth Advisors LLC acquired a new stake in shares of Cencora during the 2nd quarter valued at $30,000. Finally, Concord Wealth Partners bought a new stake in Cencora during the 3rd quarter worth $30,000. 97.52% of the stock is currently owned by institutional investors.
Cencora Trading Up 1.0 %
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 firm has a market cap of $48.82 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.49 and a beta of 0.44. The business has a fifty day simple moving average of $231.57 and a 200-day simple moving average of $230.64.
Cencora Company Profile
(
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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.
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