Cencora (NYSE:COR) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Cencora (NYSE:COR) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

Other equities research analysts have also issued research reports about the company. UBS Group lifted their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Robert W. Baird lifted their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Barclays lifted their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, Mizuho assumed coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus price target of $277.90.

Cencora Price Performance

Shares of COR opened at $253.51 on Tuesday. Cencora has a fifty-two week low of $214.77 and a fifty-two week high of $262.26. The company has a market capitalization of $49.16 billion, a price-to-earnings ratio of 36.06, a price-to-earnings-growth ratio of 1.31 and a beta of 0.49. The firm has a 50-day simple moving average of $243.79 and a 200-day simple moving average of $238.29. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92.

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

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.87%. Cencora’s payout ratio is 31.29%.

Insider Buying and Selling

In related news, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now directly owns 15,374 shares in the company, valued at $3,724,197.76. The trade was a 24.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 4,970 shares of Cencora stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total value of $1,267,350.00. Following the transaction, the chief executive officer now owns 51,070 shares of the company’s stock, valued at $13,022,850. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,648 shares of company stock worth $2,862,342 in the last ninety days. Insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COR. Swedbank AB raised its position in shares of Cencora by 2.3% during the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock worth $313,863,000 after purchasing an additional 31,104 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Cencora in the 3rd quarter valued at $62,000. Intact Investment Management Inc. acquired a new position in Cencora in the 3rd quarter valued at $70,000. National Pension Service raised its holdings in Cencora by 16.8% in the 3rd quarter. National Pension Service now owns 307,919 shares of the company’s stock valued at $69,306,000 after acquiring an additional 44,346 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Cencora by 1.8% in the 3rd quarter. QRG Capital Management Inc. now owns 20,020 shares of the company’s stock valued at $4,506,000 after acquiring an additional 351 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

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.