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

Key Points

• Cencora, Inc. (NYSE:COR) achieved a new 52-week high of $310.58, demonstrating strong investor interest as the stock closed at $309.05 with a trading volume of 189,637 shares.
• Wall Street analysts display optimism, with a consensus rating of "Moderate Buy" and a target price of $311.25, as several firms raised their price targets significantly.
• The company reported Q2 earnings of $4.00 per share, exceeding estimates, and a revenue of $80.66 billion, indicating an 8.7% increase year-over-year.

Cencora, Inc. (NYSE:COR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $310.58 and last traded at $309.05, with a volume of 189637 shares trading hands. The stock had previously closed at $308.07.

Wall Street Analysts Forecast Growth

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

Cencora Stock Performance

The firm has a market capitalization of $60.45 billion, a PE ratio of 32.06, a price-to-earnings-growth ratio of 1.56 and a beta of 0.62. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The business's fifty day simple moving average is $293.31 and its 200-day simple moving average is $289.17.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. During the same quarter in the previous year, the firm earned $3.34 earnings per share. The company's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

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

Insider Transactions at Cencora

In other 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 transaction of $1,478,130.00. Following the completion of the transaction, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares of the company's stock, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,993 shares of company stock valued at $16,292,923. Company insiders own 10.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Capital A Wealth Management LLC grew its position in shares of Cencora by 3,975.0% during the second quarter. Capital A Wealth Management LLC now owns 163 shares of the company's stock valued at $49,000 after purchasing an additional 159 shares in the last quarter. National Wealth Management Group LLC lifted its holdings in shares of Cencora by 7.4% in the 2nd quarter. National Wealth Management Group LLC now owns 1,865 shares of the company's stock valued at $559,000 after acquiring an additional 128 shares during the last quarter. Caldwell Trust Co bought a new position in shares of Cencora in the 2nd quarter valued at about $46,000. Valeo Financial Advisors LLC lifted its holdings in shares of Cencora by 9.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,345 shares of the company's stock valued at $703,000 after acquiring an additional 205 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of Cencora by 24.8% in the 2nd quarter. Osaic Holdings Inc. now owns 46,185 shares of the company's stock valued at $13,857,000 after acquiring an additional 9,171 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

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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