Cencora (NYSE:COR) EVP Elizabeth Campbell Sells 11,300 Shares of Stock

Cencora, Inc. (NYSE:COR) EVP Elizabeth Campbell sold 11,300 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cencora Stock Up 1.4%

Shares of Cencora stock opened at $328.28 on Wednesday. The business has a fifty day simple moving average of $304.37 and a 200 day simple moving average of $311.24. The stock has a market cap of $62.65 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.86 and a beta of 0.57. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The firm had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. During the same quarter in the prior year, the firm posted $4.00 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Research analysts predict that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio (DPR) is currently 17.83%.

Cencora announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COR. Bank of America boosted their price objective on shares of Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Evercore reissued an “outperform” rating and set a $350.00 price target on shares of Cencora in a research report on Thursday, August 6th. William Blair started coverage on shares of Cencora in a report on Tuesday, April 28th. They issued a “market perform” rating for the company. Finally, Barclays lowered their price objective on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $370.85.

Institutional Trading of Cencora

A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its stake in Cencora by 26,305.7% in the second quarter. California State Teachers Retirement System now owns 74,523,349 shares of the company’s stock valued at $21,088,617,000 after buying an additional 74,241,125 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cencora by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock valued at $7,976,681,000 after buying an additional 221,570 shares during the period. BlackRock Inc. bought a new stake in shares of Cencora during the second quarter worth $5,154,136,000. State Street Corp raised its holdings in shares of Cencora by 1.3% during the fourth quarter. State Street Corp now owns 9,305,507 shares of the company’s stock worth $3,142,935,000 after acquiring an additional 115,191 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Cencora by 160.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after acquiring an additional 4,123,795 shares during the period. 97.52% of the stock is owned by institutional investors.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.