Cencora (NYSE:COR) Downgraded by StockNews.com to “Buy”

StockNews.com lowered shares of Cencora (NYSE:COR) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

COR has been the topic of several other research reports. Robert W. Baird lifted their price target on shares of Cencora from $275.00 to $277.00 and gave the company an outperform rating in a report on Thursday. Barclays began coverage on shares of Cencora in a research note on Wednesday, January 3rd. They set an overweight rating and a $242.00 target price on the stock. SVB Leerink initiated coverage on shares of Cencora in a research note on Monday, February 26th. They issued an outperform rating and a $261.00 price target for the company. Leerink Partnrs restated an outperform rating on shares of Cencora in a report on Monday, February 26th. Finally, Mizuho upped their target price on Cencora from $192.00 to $224.00 and gave the stock a neutral rating in a report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $233.90.

Cencora Trading Down 0.4 %

Cencora stock traded down $0.79 during trading hours on Thursday, reaching $223.95. The stock had a trading volume of 2,222,046 shares, compared to its average volume of 1,292,259. The company has a fifty day simple moving average of $238.31 and a 200-day simple moving average of $218.93. Cencora has a 52 week low of $163.37 and a 52 week high of $246.75. The stock has a market cap of $44.67 billion, a PE ratio of 24.51, a PEG ratio of 1.69 and a beta of 0.47. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.52.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.65 by $0.15. The business had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $3.50 EPS. Analysts forecast that Cencora will post 13.46 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Insider Buying and Selling at Cencora

In related news, CEO Steven H. Collis sold 10,754 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the transaction, the chief executive officer now owns 285,088 shares in the company, valued at approximately $67,702,698.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Robert P. Mauch sold 57,564 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $235.09, for a total transaction of $13,532,720.76. Following the sale, the chief operating officer now owns 24,412 shares in the company, valued at $5,739,017.08. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Steven H. Collis sold 10,754 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,288,790 shares of company stock worth $1,009,641,379. 15.80% of the stock is owned by insiders.

Institutional Trading of Cencora

Institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in shares of Cencora during the first quarter valued at $25,000. Legacy Bridge LLC purchased a new position in Cencora in the 1st quarter worth about $27,000. WASHINGTON TRUST Co bought a new position in Cencora during the 1st quarter valued at about $32,000. Hanson & Doremus Investment Management purchased a new stake in shares of Cencora during the 1st quarter valued at about $33,000. Finally, OFI Invest Asset Management bought a new stake in shares of Cencora in the first quarter worth approximately $33,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

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.