Cencora (NYSE:COR) Stock Price Down 1.1% – Here’s Why

Cencora, Inc. (NYSE:COR) fell 1.1% on Wednesday . The stock traded as low as $270.09 and last traded at $271.58. 2,471,968 shares were traded during trading, an increase of 66% from the average session volume of 1,488,417 shares. The stock had previously closed at $274.73.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. JPMorgan Chase & Co. upped their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Evercore ISI boosted their price objective on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $280.20.

Cencora Trading Down 0.3 %

The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The stock has a market capitalization of $53.11 billion, a P/E ratio of 38.96, a P/E/G ratio of 1.31 and a beta of 0.55. The business’s fifty day simple moving average is $258.42 and its two-hundred day simple moving average is $243.69.

Cencora (NYSE:COR) last released its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Friday, February 14th. Cencora’s payout ratio is 31.29%.

Insider Transactions at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,970 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the transaction, the chief executive officer now owns 51,070 shares of the company’s stock, valued at approximately $13,022,850. This represents a 8.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the transaction, the executive vice president now owns 15,374 shares in the company, valued at $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,675 shares of company stock valued at $8,034,778 in the last three months. 10.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cencora

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in Cencora during the 4th quarter valued at about $478,309,000. Bank of America Corp DE grew its holdings in Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock worth $1,166,944,000 after acquiring an additional 1,994,256 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in shares of Cencora during the 4th quarter valued at $399,508,000. GAMMA Investing LLC lifted its stake in shares of Cencora by 43,561.9% in the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company’s stock valued at $444,516,000 after purchasing an additional 1,594,800 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Cencora in the 4th quarter worth $322,460,000. Institutional investors own 97.52% of the company’s stock.

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.