Cencora (NYSE:COR) Releases Quarterly Earnings Results

Cencora (NYSE:COR) released its quarterly earnings results on Wednesday. The company reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23, Zacks reports. Cencora had a net margin of 0.51% and a return on equity of 266.62%.

Cencora Stock Performance

Cencora stock traded down $5.43 during mid-day trading on Thursday, hitting $247.85. The company had a trading volume of 319,519 shares, compared to its average volume of 1,331,742. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The company has a market capitalization of $47.90 billion, a price-to-earnings ratio of 33.02, a P/E/G ratio of 1.59 and a beta of 0.49. The company’s fifty day moving average is $239.08 and its 200-day moving average is $236.51. Cencora has a 12-month low of $214.77 and a 12-month high of $262.26.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on COR shares. UBS Group raised their target price on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price objective on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Mizuho started coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. Evercore ISI raised their price target on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Barclays upped their price objective on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $277.90.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares in the company, valued at $79,670,111.29. The trade was a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,187 shares of company stock worth $17,790,912 in the last three months. Company insiders own 10.80% 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.