Cencora (NYSE:COR) Stock Price Down 2%

Cencora, Inc. (NYSE:COR) shares dropped 2% during trading on Wednesday . The stock traded as low as $227.20 and last traded at $229.73. Approximately 167,189 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,363,849 shares. The stock had previously closed at $234.53.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COR. Bank of America reaffirmed a “neutral” rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Robert W. Baird decreased their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Wells Fargo & Company boosted their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average target price of $256.67.

Cencora Stock Down 2.6 %

The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The stock has a market capitalization of $45.54 billion, a PE ratio of 25.66, a PEG ratio of 1.55 and a beta of 0.44. The company has a 50 day moving average price of $234.52 and a 200-day moving average price of $233.26.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the previous year, the firm earned $2.92 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.89%. Cencora’s dividend payout ratio is currently 22.32%.

Insider Buying and Selling

In related news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the transaction, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock worth $1,070,392,799 in the last three months. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

A number of institutional investors have recently bought and sold shares of COR. Rise Advisors LLC bought a new position in shares of Cencora in the first quarter worth about $25,000. Legacy Bridge LLC bought a new stake in Cencora in the 1st quarter valued at $27,000. New Millennium Group LLC purchased a new stake in Cencora in the 2nd quarter worth $26,000. TCTC Holdings LLC bought a new position in shares of Cencora during the 1st quarter valued at about $29,000. Finally, TFO Wealth Partners LLC purchased a new stake in shares of Cencora in the first quarter worth about $30,000. Hedge funds and other 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.