Cencora (NYSE:COR) Trading Up 3.5% - Time to Buy?

Cencora, Inc. (NYSE:COR - Get Free Report) shares rose 3.5% during mid-day trading on Thursday . The company traded as high as $289.74 and last traded at $289.39. Approximately 1,629,436 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 1,586,762 shares. The stock had previously closed at $279.51.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. 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 report on Thursday, February 6th. Wells Fargo & Company increased their price objective on shares of Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. boosted their target price on Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $280.20.

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Cencora Stock Performance

The company has a market cap of $53.22 billion, a P/E ratio of 39.04, a PEG ratio of 1.31 and a beta of 0.55. The firm has a 50 day moving average of $258.42 and a 200-day moving average of $243.69. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data 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%. As a group, sell-side analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Friday, February 14th. Cencora's payout ratio is 31.29%.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the sale, the executive vice president now owns 15,374 shares of the company's stock, valued at $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lazarus Krikorian sold 2,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 20,154 shares of the company's stock, valued at approximately $5,241,249.24. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,675 shares of company stock valued at $8,034,778 over the last quarter. 10.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cencora

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COR. JFS Wealth Advisors LLC increased its holdings in Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock valued at $27,000 after buying an additional 46 shares in the last quarter. Banque Transatlantique SA purchased a new position in Cencora during the fourth quarter worth approximately $29,000. SBI Securities Co. Ltd. purchased a new position in Cencora during the fourth quarter worth approximately $30,000. Householder Group Estate & Retirement Specialist LLC raised its stake in shares of Cencora by 85.2% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company's stock worth $33,000 after buying an additional 69 shares during the period. Finally, Kentucky Trust Co purchased a new position in shares of Cencora during the 4th quarter valued at approximately $33,000. 97.52% of the stock is owned by institutional investors and hedge funds.

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.