Cencora (NYSE:COR) Announces Earnings Results

Cencora (NYSE:COR) announced its earnings results on Wednesday. The company reported $3.73 EPS for the quarter, beating the consensus estimate of $3.50 by $0.23, Zacks reports. Cencora had a net margin of 0.51% and a return on equity of 266.62%.

Cencora Stock Performance

Shares of COR traded down $1.65 during trading hours on Wednesday, reaching $249.92. 650,261 shares of the company traded hands, compared to its average volume of 1,282,465. The stock has a market capitalization of $48.30 billion, a P/E ratio of 33.28, a P/E/G ratio of 1.59 and a beta of 0.49. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The business has a fifty day moving average price of $239.00 and a 200-day moving average price of $236.39. Cencora has a 12-month low of $214.77 and a 12-month high of $262.26.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.88%. Cencora’s dividend payout ratio is presently 29.29%.

Analyst Ratings Changes

A number of analysts recently commented on COR shares. Robert W. Baird lifted their price target on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Evercore ISI upped their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research 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 research note on Wednesday, January 29th. JPMorgan Chase & Co. upped their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Mizuho started coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $278.40.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares in the company, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,187 shares of company stock valued at $17,790,912. 10.80% of the stock is owned by company insiders.

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.