Cencora (NYSE:COR) Hits New 1-Year High - Still a Buy?

Cencora, Inc. (NYSE:COR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $264.36 and last traded at $260.93, with a volume of 579259 shares changing hands. The stock had previously closed at $260.96.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised 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, March 14th. Evercore ISI raised their price objective on shares of Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. StockNews.com upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Finally, Mizuho initiated coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an "outperform" rating and a $280.00 price objective for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $280.20.

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Cencora Trading Down 0.3 %

The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The business's 50-day moving average price is $250.62 and its two-hundred day moving average price is $240.06. The company has a market capitalization of $51.76 billion, a price-to-earnings ratio of 37.97, a P/E/G ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating analysts' consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors 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 dividend on an annualized basis and a yield of 0.82%. Cencora's dividend payout ratio (DPR) is 31.29%.

Insider Activity at Cencora

In other Cencora news, CAO Lazarus Krikorian sold 2,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the sale, the chief accounting officer now owns 20,154 shares of the company's stock, valued at approximately $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 4,970 shares of the business's stock in a transaction on 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. The trade was a 8.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,970 shares of company stock valued at $2,998,670 over the last three months. 10.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Cencora

Hedge funds have recently modified their holdings of the business. JFS Wealth Advisors LLC lifted its holdings in shares of Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock worth $27,000 after purchasing an additional 46 shares during the period. Banque Transatlantique SA acquired a new position in shares of Cencora during the fourth quarter worth $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Cencora during the fourth quarter worth $30,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Cencora by 85.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company's stock worth $33,000 after purchasing an additional 69 shares during the period. Finally, Kentucky Trust Co acquired a new position in shares of Cencora during the fourth quarter worth $33,000. 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.