Cencora (NYSE:COR) Reaches New 52-Week High Following Earnings Beat

Cencora, Inc. (NYSE:COR)’s share price hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $262.26 and last traded at $254.98, with a volume of 128791 shares changing hands. The stock had previously closed at $251.57.

The company reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 266.62% and a net margin of 0.51%.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.87%. Cencora’s payout ratio is currently 29.29%.

Wall Street Analyst Weigh In

COR has been the topic of a number of research reports. Barclays raised their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price target on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. UBS Group lifted their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird increased their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.40.

Insider Buying and Selling at Cencora

In other news, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the sale, the chairman now directly owns 306,752 shares of the company’s stock, valued at $74,283,064.32. This trade represents a 6.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,187 shares of company stock worth $17,790,912. 10.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cencora

A number of institutional investors have recently bought and sold shares of COR. JFS Wealth Advisors LLC raised its holdings in shares of Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 46 shares during the last quarter. Concord Wealth Partners acquired a new stake in Cencora during the 3rd quarter worth about $30,000. Householder Group Estate & Retirement Specialist LLC raised its stake 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 valued at $33,000 after buying an additional 69 shares during the last quarter. Kentucky Trust Co acquired a new position in shares of Cencora in the 4th quarter valued at about $33,000. Finally, WASHINGTON TRUST Co boosted its stake in shares of Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after buying an additional 46 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

The firm has a fifty day moving average of $239.08 and a 200 day moving average of $236.51. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The stock has a market capitalization of $49.00 billion, a price-to-earnings ratio of 33.76, a price-to-earnings-growth ratio of 1.59 and a beta of 0.49.

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.