Cencora (NYSE:COR) Reaches New 12-Month High – Here’s Why

Cencora, Inc. (NYSE:COR) hit a new 52-week high on Wednesday . The stock traded as high as $271.66 and last traded at $271.31, with a volume of 65499 shares changing hands. The stock had previously closed at $268.48.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Mizuho assumed coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. Evercore ISI upped their price objective on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. raised their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company lifted their price objective on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $280.20.

Cencora Trading Up 0.9 %

The company has a market cap of $52.54 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 1.31 and a beta of 0.51. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The business’s 50 day moving average price is $251.80 and its 200-day moving average price is $240.46.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, equities analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.81%. Cencora’s dividend payout ratio (DPR) is presently 31.29%.

Insiders Place Their Bets

In related news, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now directly owns 15,374 shares in the company, valued at approximately $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 accessible through this link. Also, CAO Lazarus Krikorian sold 2,000 shares of Cencora stock in a transaction dated Monday, March 10th. The stock was 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 $5,241,249.24. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,970 shares of company stock worth $2,998,670 in the last 90 days. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

Hedge funds have recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC grew its holdings in shares of Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 46 shares in the last quarter. Banque Transatlantique SA bought a new position in Cencora in the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Cencora in the 4th quarter valued at approximately $30,000. Kentucky Trust Co bought a new stake in shares of Cencora during the 4th quarter worth approximately $33,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its position 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 acquiring an additional 69 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.