Wall Street Zen Downgrades Cencora (NYSE:COR) to Hold

Key Points

• Wall Street Zen downgraded Cencora (NYSE:COR) from a "buy" rating to a "hold" rating in a recent note.
• Cencora's recent stock performance shows it opened at $318.01, with a market capitalization of $61.66 billion and a consensus target price of $320.00.
• Insider sales have been notable, with Chairman Steven H. Collis selling over 31,000 shares, reducing his ownership by 9.30%.

Cencora (NYSE:COR - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

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

Cencora Stock Up 1.2%

NYSE:COR opened at $318.01 on Friday. The company has a market capitalization of $61.66 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. Cencora has a one year low of $221.95 and a one year high of $319.68. The stock has a 50-day simple moving average of $296.99 and a 200 day simple moving average of $291.60. 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 results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $3.34 earnings per share. Sell-side analysts predict that Cencora will post 15.37 EPS for the current fiscal year.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 31,350 shares of the business's 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 sale, the chairman owned 305,913 shares of the company's stock, valued at $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $11,389,460. The trade was a 11.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,993 shares of company stock valued at $16,292,923. Insiders own 10.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. USA Financial Formulas bought a new position in shares of Cencora in the third quarter valued at $591,000. Trust Point Inc. bought a new position in shares of Cencora in the third quarter valued at $1,320,000. Fiduciary Financial Group LLC bought a new position in shares of Cencora in the third quarter valued at $208,000. BDF Gestion bought a new position in shares of Cencora in the third quarter valued at $3,909,000. Finally, Astoria Portfolio Advisors LLC. increased its holdings in shares of Cencora by 105.1% in the third quarter. Astoria Portfolio Advisors LLC. now owns 1,756 shares of the company's stock valued at $545,000 after buying an additional 900 shares in the last quarter. 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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