On October 10th, 2023, Gina Clark, the Executive Vice President of Cencora, Inc. (NYSE:COR), sold 10,695 shares of the company’s stock. The shares were sold at an average price of $187.00, resulting in a total value of $1,999,965.00. Following this transaction, Clark now owns 16,038 shares in the company with a value of $2,999,106. This sale was disclosed in a document filed with the SEC.
Cencora, Inc., which trades under the ticker symbol COR on the New York Stock Exchange (NYSE), saw its stock trade slightly higher during trading on Wednesday, reaching $188.03. The company witnessed a total of 1,166,130 shares being exchanged on that day compared to its average volume of 1,408,114. Over the past year, Cencora has experienced fluctuating lows and highs with a 12-month low at $136.07 and a 12-month high at $194.79. The stock’s 50-day and two-hundred-day moving averages are $186.15 and $174.37 respectively.
With a quick ratio of 0.52 and a current ratio of 0.88, Cencora maintains adequate liquidity for its operations. The company also has a debt-to-equity ratio of 4.51 which signifies its reliance on external financing sources compared to shareholder equity.
Cencora currently holds a market capitalization of roughly $38.02 billion with a relatively attractive price-to-earnings (P/E) ratio of 22.90 and PEG ratio of 1.67 indicating potential growth opportunities to investors while considering valuation measures.
Several brokerages have recently commented on Cencora’s performance and valuation metrics. Bank of America increased their price objective from $200 to $212 per share. StockNews.com gave the stock a “strong-buy” rating based on their analysis. TheStreet upgraded Cencora from a “c” to a “b” rating, reflecting improved fundamentals. Morgan Stanley also adjusted their price objective, raising it from $176 to $190 per share and providing an “equal weight” rating. TD Cowen analysts expressed optimism with a target price of $215 per share and designated the stock as “outperform”. Overall, out of fifteen analysts covering Cencora, two rated it as hold, twelve as buy, and one as strong buy. According to Bloomberg.com, the consensus rating for the stock is presently “Moderate Buy” with an average price target of $192.21.
Furthermore, Cencora recently announced its quarterly dividend which was paid on August 28th to shareholders recorded on August 11th. Shareholders received a dividend of $0.485 per share while the ex-dividend date was on August 10th. This represents an annualized dividend of $1.94 and yields a return of 1.03%. Cencora’s dividend payout ratio (DPR) is currently at 23.63%.
As investors consider their portfolio management strategies, they may find it valuable to review recent developments and analyst recommendations related to Cencora, Inc., particularly in light of its financial performance indicators, market valuation ratios, and dividend yield.
Cencora (NYSE:COR) Reports Strong Quarterly Earnings and Attracts Positive Investor Sentiment
Cencora (NYSE:COR) recently announced its quarterly earnings data, revealing a strong financial performance that surpassed analysts’ expectations. The company reported earnings per share (EPS) of $2.92 for the quarter, beating the consensus estimate of $2.83 by $0.09. Additionally, Cencora generated revenue of $66.95 billion during the same period, exceeding analyst estimates of $63.93 billion.
Notably, Cencora’s net margin stood at 0.66%, indicating a narrow profit margin, while the return on equity was an impressive 612.69%. The company experienced an increase in revenue of 11.5% compared to the same quarter last year when it earned $2.62 per share.
Research analysts anticipate that Cencora, Inc.’s current fiscal year will see it post earnings per share of 11.93. This positive projection indicates a continuation of the company’s robust financial performance.
The report also sheds light on the investment activity surrounding Cencora, with various hedge funds and institutional investors adjusting their holdings in the company recently.
Eubel Brady & Suttman Asset Management Inc., one such investor, slightly increased its position in Cencora by 0.3% during the second quarter. The firm now owns 129,897 shares of Cencora’s stock valued at approximately $24,996,000 after acquiring an additional 327 shares during that period.
Virginia Retirement Systems ET AL also joined in by buying a new stake in Cencora worth around $4,888,000 during the second quarter.
Comerica Bank followed suit and purchased a new position in Cencora valued at approximately $27,675,000 during the same period.
California State Teachers Retirement System demonstrated confidence in Cencora as well by increasing its holdings by 6.9% during the second quarter. The institution now owns 276,863 shares of the company’s stock, valued at $53,277,000 after acquiring an additional 17,948 shares.
Lastly, Orion Portfolio Solutions LLC significantly raised its position in Cencora during the second quarter by 85.2%. The firm now owns 12,178 shares of Cencora’s stock valued at $2,343,000 after buying an additional 5,603 shares.
It is worth noting that hedge funds and institutional investors currently own approximately 93.12% of Cencora’s outstanding shares.
These recent increases and adjustments in holdings demonstrate a positive sentiment toward Cencora and reflect a confidence in the company’s future performance.
In conclusion, Cencora’s latest quarterly earnings report exceeded expectations with higher-than-anticipated EPS and revenue figures. Furthermore, several hedge funds and institutional investors have recently augmented their positions in the company. These developments bode well for Cencora’s future prospects as it continues to deliver strong financial results.