StockNews.com Downgrades Cencora (NYSE:COR) to Buy

by · The Markets Daily

StockNews.com downgraded shares of Cencora (NYSE:COR – Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning.

A number of other research analysts also recently issued reports on COR. Wells Fargo & Company upped their target price on shares of Cencora from $236.00 to $249.00 and gave the company an equal weight rating in a research report on Thursday, August 1st. Bank of America restated a neutral rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Robert W. Baird lowered their target price on shares of Cencora from $287.00 to $283.00 and set an outperform rating for the company in a report on Friday, September 6th. Leerink Partners reissued an outperform rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. lifted their price objective on Cencora from $280.00 to $287.00 and gave the stock an overweight rating in a research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $256.67.

Check Out Our Latest Stock Report on COR

Cencora Stock Performance

COR stock opened at $228.36 on Friday. The company has a 50 day moving average price of $234.97 and a 200 day moving average price of $233.04. Cencora has a fifty-two week low of $178.21 and a fifty-two week high of $247.66. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The stock has a market capitalization of $45.55 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44.

Cencora (NYSE:COR – Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. During the same quarter in the previous year, the company posted $2.92 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts forecast that Cencora will post 13.63 EPS for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.89%. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

Insider Activity

In related news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. The disclosure for this sale can be found here. Insiders sold 4,450,399 shares of company stock worth $1,070,392,799 over the last quarter. 15.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cencora

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fisher Asset Management LLC acquired a new stake in shares of Cencora in the fourth quarter valued at about $244,000. Trust Co. of Vermont acquired a new position in Cencora during the fourth quarter valued at approximately $62,000. Wahed Invest LLC bought a new position in Cencora in the fourth quarter valued at approximately $567,000. Vanguard Group Inc. bought a new stake in shares of Cencora during the 4th quarter worth approximately $4,212,508,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Cencora in the 4th quarter valued at approximately $3,307,000. 97.52% of the stock is owned by institutional investors.

Cencora Company Profile

(Get Free Report)

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.

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