Cencora (NYSE:COR) Stock Price Down 3.5%

Cencora, Inc. (NYSE:COR) fell 3.5% on Thursday . The company traded as low as $234.57 and last traded at $234.80. 297,373 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,352,463 shares. The stock had previously closed at $243.40.

Wall Street Analyst Weigh In

Several research firms have commented on COR. Wells Fargo & Company increased their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Leerink Partners reissued an “outperform” rating and issued a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. Finally, Robert W. Baird raised their price target on shares of Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus price target of $258.63.

Cencora Stock Down 4.0 %

The stock has a market cap of $46.59 billion, a P/E ratio of 26.63, a P/E/G ratio of 1.57 and a beta of 0.45. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The stock’s fifty day simple moving average is $232.08 and its 200-day simple moving average is $233.16.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.18 by $0.16. The business had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.92 EPS. As a group, research analysts forecast that Cencora, Inc. will post 13.61 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.87%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

Insider Buying and Selling at Cencora

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

Hedge Funds Weigh In On Cencora

Several large investors have recently modified their holdings of COR. Fisher Asset Management LLC purchased a new position in shares of Cencora in the fourth quarter worth about $244,000. Trust Co. of Vermont purchased a new position in Cencora during the fourth quarter valued at approximately $62,000. Wahed Invest LLC purchased a new position in Cencora during the fourth quarter valued at approximately $567,000. Vanguard Group Inc. purchased a new position in Cencora during the fourth quarter valued at approximately $4,212,508,000. Finally, Hennessy Advisors Inc. purchased a new position in Cencora during the fourth quarter valued at approximately $3,307,000. 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.