Cencora (NYSE:COR) Shares Gap Down to $237.28

Cencora, Inc. (NYSE:COR) gapped down prior to trading on Thursday . The stock had previously closed at $237.28, but opened at $229.00. Cencora shares last traded at $229.90, with a volume of 153,804 shares changing hands.

Analyst Upgrades and Downgrades

COR has been the subject of a number of research analyst reports. Citigroup boosted their price target on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. SVB Leerink restated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research note on Thursday. Finally, Robert W. Baird upped their price objective on Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.30.

Cencora Stock Down 1.2 %

The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. The stock has a 50-day simple moving average of $229.12 and a 200-day simple moving average of $227.82. The company has a market cap of $44.94 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 1.65 and a beta of 0.48.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The company had revenue of $68.41 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the firm posted $3.50 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts predict that Cencora, Inc. will post 13.44 EPS for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $0.51 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.91%. Cencora’s dividend payout ratio (DPR) is 22.32%.

Insider Activity

In other news, Director Dermot Mark Durcan acquired 500 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average price of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the acquisition, the director now directly owns 21,876 shares in the company, valued at approximately $4,781,656.08. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Dermot Mark Durcan acquired 500 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average price of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the acquisition, the director now directly owns 21,876 shares in the company, valued at approximately $4,781,656.08. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gina Clark sold 1,874 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $223.86, for a total value of $419,513.64. Following the sale, the executive vice president now directly owns 13,284 shares of the company’s stock, valued at $2,973,756.24. The disclosure for this sale can be found here. Insiders sold a total of 1,956,675 shares of company stock worth $422,352,056 over the last 90 days. 15.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cencora

Several hedge funds have recently modified their holdings of the stock. Rise Advisors LLC purchased a new stake in shares of Cencora during the first quarter valued at $25,000. Legacy Bridge LLC acquired a new position in Cencora during the first quarter valued at $27,000. TCTC Holdings LLC acquired a new position in Cencora during the first quarter valued at $29,000. TFO Wealth Partners LLC acquired a new position in Cencora during the first quarter valued at $30,000. Finally, LRI Investments LLC acquired a new position in Cencora during the first quarter valued at $31,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

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.