Cencora (NYSE:COR) Downgraded by StockNews.com to Buy

StockNews.com downgraded shares of Cencora (NYSE:COR) from a strong-buy rating to a buy rating in a research report released on Thursday morning.

A number of other research firms have also issued reports on COR. Citigroup lifted their target price on Cencora from $265.00 to $280.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Mizuho lifted their target price on Cencora from $192.00 to $224.00 and gave the stock a neutral rating in a report on Monday, February 5th. Barclays started coverage on Cencora in a report on Wednesday, January 3rd. They set an overweight rating and a $242.00 target price on the stock. SVB Leerink started coverage on Cencora in a report on Monday, February 26th. They set an outperform rating and a $261.00 target price on the stock. Finally, Leerink Partnrs reaffirmed an outperform rating on shares of Cencora in a report on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $233.90.

Cencora Price Performance

Shares of NYSE COR opened at $223.95 on Thursday. Cencora has a fifty-two week low of $163.37 and a fifty-two week high of $246.75. The firm’s 50-day simple moving average is $238.31 and its 200 day simple moving average is $219.36. The company has a quick ratio of 0.52, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. The stock has a market cap of $44.67 billion, a P/E ratio of 24.50, a P/E/G ratio of 1.68 and a beta of 0.47.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The business had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the previous year, the business earned $3.50 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Equities analysts expect that Cencora will post 13.44 EPS for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.51 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. Cencora’s dividend payout ratio is currently 22.32%.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Elizabeth S. Campbell sold 6,977 shares of Cencora stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $238.12, for a total transaction of $1,661,363.24. Following the transaction, the executive vice president now owns 8,246 shares of the company’s stock, valued at approximately $1,963,537.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cencora news, EVP Elizabeth S. Campbell sold 6,977 shares of Cencora stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $238.12, for a total transaction of $1,661,363.24. Following the transaction, the executive vice president now owns 8,246 shares of the company’s stock, valued at approximately $1,963,537.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steven H. Collis sold 10,754 shares of Cencora stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $67,702,698.24. The disclosure for this sale can be found here. Insiders have sold a total of 4,288,790 shares of company stock valued at $1,009,641,379 in the last 90 days. 15.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cencora

Several institutional investors have recently made changes to their positions in COR. Vanguard Group Inc. acquired a new stake in shares of Cencora during the 4th quarter valued at about $4,212,508,000. Bank of New York Mellon Corp acquired a new stake in shares of Cencora during the 1st quarter valued at about $291,825,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Cencora during the 1st quarter valued at about $238,457,000. Principal Financial Group Inc. acquired a new stake in shares of Cencora during the 1st quarter valued at about $75,916,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Cencora during the 1st quarter valued at about $73,653,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

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.