Cencora (NYSE:COR) Sets New 1-Year High - Here's What Happened

Cencora, Inc. (NYSE:COR - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $280.70 and last traded at $278.17, with a volume of 1916693 shares trading hands. The stock had previously closed at $275.21.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on COR shares. Wells Fargo & Company upped their price objective on Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Evercore ISI upped their price target on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. 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. Finally, StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $280.20.

Cencora Stock Performance

The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The stock has a market cap of $54.16 billion, a price-to-earnings ratio of 39.73, a PEG ratio of 1.31 and a beta of 0.51. The stock's fifty day moving average is $257.28 and its 200-day moving average is $242.65.

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Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping 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%. On average, analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, February 14th. Cencora's dividend payout ratio (DPR) is presently 31.29%.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the chief executive officer now directly owns 51,070 shares in the company, valued at approximately $13,022,850. This trade represents a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the sale, the executive vice president now directly owns 15,374 shares in the company, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,675 shares of company stock worth $8,034,778. Company insiders own 10.80% of the company's stock.

Hedge Funds Weigh In On Cencora

Hedge funds have recently made changes to their positions in the business. JFS Wealth Advisors LLC boosted its holdings in 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 last quarter. Banque Transatlantique SA acquired a new position in shares of Cencora during the 4th quarter worth about $29,000. SBI Securities Co. Ltd. bought a new position in shares of Cencora in the 4th quarter valued at about $30,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company's stock valued at $33,000 after acquiring an additional 69 shares during the last quarter. Finally, Kentucky Trust Co bought a new stake in Cencora during the fourth quarter worth about $33,000. 97.52% of the stock is owned by institutional investors.

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.