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

Key Points

• Cencora, Inc. reached a new 52-week high of $319.60 amid trading, indicating strong market performance.
• Brokerages have reacted positively, with multiple firms increasing their price targets for Cencora, now averaging around $320.00 and maintaining a "Moderate Buy" rating.
• The company reported $4.00 EPS for the last quarter, exceeding analyst expectations and demonstrating an 8.7% revenue increase compared to the previous year.

Cencora, Inc. (NYSE:COR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $319.60 and last traded at $316.49, with a volume of 83913 shares traded. The stock had previously closed at $314.12.

Analysts Set New Price Targets

A number of brokerages have issued reports on COR. Jefferies Financial Group boosted their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cencora in a report on Wednesday. Evercore ISI set a $340.00 price objective on Cencora in a report on Wednesday. Morgan Stanley set a $330.00 price target on Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company boosted their price target on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cencora has an average rating of "Moderate Buy" and an average target price of $320.00.

Cencora Trading Up 0.5%

The stock has a market cap of $61.18 billion, a PE ratio of 32.53, a PEG ratio of 1.45 and a beta of 0.63. The business has a 50-day moving average of $296.39 and a 200 day moving average of $291.26. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.34 EPS. Equities research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed 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. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora's dividend payout ratio (DPR) is currently 22.63%.

Insider Transactions at Cencora

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

Institutional Trading of Cencora

A number of hedge funds have recently added to or reduced their stakes in COR. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Cencora by 70.0% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company's stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after purchasing an additional 48 shares in the last quarter. Hoey Investments Inc. acquired a new position in shares of Cencora in the 1st quarter valued at about $28,000. Costello Asset Management INC purchased a new stake in shares of Cencora during the 1st quarter valued at about $28,000. Finally, Vermillion & White Wealth Management Group LLC raised its holdings in shares of Cencora by 69.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 105 shares of the company's stock valued at $31,000 after buying an additional 43 shares during the period. 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.

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