Cencora (NYSE:COR) Stock Price Down 1.1% – Should You Sell?

Cencora, Inc. (NYSE:COR)’s stock price was down 1.1% on Wednesday . The company traded as low as $270.09 and last traded at $271.58. Approximately 2,471,968 shares changed hands during trading, an increase of 66% from the average daily volume of 1,488,417 shares. The stock had previously closed at $274.73.

Analyst Upgrades and Downgrades

Several research analysts recently commented on COR shares. Evercore ISI lifted their target price 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. JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Bank of America increased their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Wells Fargo & Company increased their price objective on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $284.20.

Cencora Price Performance

The stock has a market cap of $55.16 billion, a PE ratio of 40.46, a P/E/G ratio of 1.31 and a beta of 0.55. The business has a fifty day simple moving average of $259.61 and a two-hundred day simple moving average of $244.58. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping 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%. Research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.77%. Cencora’s dividend payout ratio (DPR) is currently 31.29%.

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction on Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction 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 approximately $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total value of $3,928,916.78. Following the completion of the sale, the chairman now directly owns 317,913 shares in the company, valued at approximately $85,680,732.63. This represents a 4.38 % 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 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

Hedge funds have recently bought and sold shares of the company. Arete Wealth Advisors LLC lifted its stake in shares of Cencora by 4.9% in the third quarter. Arete Wealth Advisors LLC now owns 2,412 shares of the company’s stock worth $541,000 after buying an additional 113 shares in the last quarter. XTX Topco Ltd bought a new position in Cencora in the 3rd quarter valued at approximately $521,000. Vestcor Inc lifted its position in Cencora by 13.1% in the 3rd quarter. Vestcor Inc now owns 3,438 shares of the company’s stock valued at $774,000 after acquiring an additional 398 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after purchasing an additional 189,054 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in shares of Cencora by 11.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,299 shares of the company’s stock worth $750,000 after purchasing an additional 328 shares in the last quarter. 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.