Cencora (NYSE:COR) Hits New 52-Week High – What’s Next?

Cencora, Inc. (NYSE:COR) hit a new 52-week high on Monday . The stock traded as high as $262.56 and last traded at $261.65, with a volume of 1502754 shares traded. The stock had previously closed at $254.58.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on COR shares. Mizuho assumed coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Evercore ISI raised their price target on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price target on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, StockNews.com lowered Cencora from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $277.90.

Cencora Price Performance

The business has a 50-day simple moving average of $244.34 and a two-hundred day simple moving average of $238.39. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The stock has a market capitalization of $50.74 billion, a price-to-earnings ratio of 37.22, a P/E/G ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last announced 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 return on equity of 328.62% and a net margin of 0.46%. As a group, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.84%. Cencora’s payout ratio is currently 31.29%.

Insider Activity 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 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 approximately $13,022,850. This represents a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,648 shares of company stock valued at $2,862,342 over the last ninety days. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

Institutional investors have recently bought and sold shares of the stock. JFS Wealth Advisors LLC raised its holdings in shares of Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 46 shares during the period. Banque Transatlantique SA acquired a new stake in Cencora during the 4th quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new stake in Cencora during the 4th quarter valued at $30,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares in the last quarter. Finally, Kentucky Trust Co acquired a new stake in shares of Cencora in the fourth quarter worth $33,000. 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.