Cencora (NYSE:COR) Hits New 52-Week High - Should You Buy?

Key Points

• Cencora, Inc. reached a new 52-week high, trading at $309.64 before closing at $307.83, with a significant trading volume of 233,030 shares.
• Analysts have given Cencora an average rating of "Moderate Buy", with price targets ranging from $300.00 to $354.00.
• The company recently reported quarterly earnings of $4.00 per share, exceeding expectations, and noted an 8.7% increase in revenue year-over-year.

Cencora, Inc. (NYSE:COR - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $309.64 and last traded at $307.83, with a volume of 233030 shares. The stock had previously closed at $302.40.

Analyst Ratings Changes

Several equities analysts recently commented on COR shares. Wells Fargo & Company upped their price objective on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Jefferies Financial Group upped their price objective on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Finally, Morgan Stanley set a $330.00 price objective on Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $311.25.

Cencora Stock Up 1.6%

The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The company's fifty day simple moving average is $292.41 and its 200 day simple moving average is $287.63. The firm has a market capitalization of $59.59 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 1.47 and a beta of 0.62.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same quarter last year, the firm earned $3.34 earnings per share. The business's revenue for the quarter was up 8.7% on a year-over-year basis. Analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. Cencora's dividend payout ratio (DPR) is 22.63%.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the sale, the chief executive officer owned 39,274 shares of the company's stock, valued at approximately $11,389,460. The trade was a 11.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the sale, the chairman directly owned 305,913 shares of the company's stock, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,993 shares of company stock valued at $16,292,923 in the last three months. 10.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Voleon Capital Management LP purchased a new position in shares of Cencora during the 1st quarter valued at $3,111,000. Exchange Traded Concepts LLC lifted its stake in shares of Cencora by 4.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock valued at $307,000 after buying an additional 48 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Cencora by 25.8% during the 1st quarter. Focus Partners Wealth now owns 5,715 shares of the company's stock valued at $1,589,000 after buying an additional 1,171 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Cencora by 42.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,008 shares of the company's stock valued at $2,227,000 after buying an additional 2,389 shares in the last quarter. Finally, Ascent Group LLC lifted its stake in shares of Cencora by 42.7% during the 1st quarter. Ascent Group LLC now owns 12,586 shares of the company's stock valued at $3,500,000 after buying an additional 3,764 shares in the last quarter. Hedge funds and other institutional investors 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.

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