Key Points
- Cencora EVP Elizabeth Campbell sold 11,300 shares at an average price of $324.12, generating proceeds of about $3.66 million and reducing her ownership by 36.74%.
- Cencora’s latest quarter exceeded expectations, with adjusted EPS of $4.48 and revenue of $84.75 billion; revenue increased 5.1% year over year.
- The company declared a quarterly dividend of $0.60 per share and authorized a $2 billion stock-repurchase program, while analysts maintain a “Moderate Buy” consensus with a $370.85 price target.
Cencora, Inc. (NYSE:COR - Get Free Report) EVP Elizabeth Campbell sold 11,300 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the sale, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Cencora Stock Up 1.4%
NYSE:COR opened at $328.28 on Wednesday. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The company has a market cap of $62.65 billion, a PE ratio of 24.39, a PEG ratio of 1.86 and a beta of 0.57. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The stock has a 50-day simple moving average of $304.37 and a 200 day simple moving average of $311.24.
Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $4.48 EPS 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 analysts' expectations of $84.31 billion. During the same quarter in the previous year, the business posted $4.00 EPS. The business's quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.
Cencora Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders 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 of this dividend is Friday, August 14th. Cencora's payout ratio is currently 17.83%.
Cencora declared that its Board of Directors has approved a stock buyback program on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on COR shares. William Blair initiated coverage on shares of Cencora in a research note on Tuesday, April 28th. They issued a "market perform" rating on the stock. Robert W. Baird set a $370.00 price objective on shares of Cencora in a research note on Thursday, August 6th. Wells Fargo & Company raised their price objective on Cencora from $331.00 to $395.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Weiss Ratings raised Cencora from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Finally, Evercore reiterated an "outperform" rating and set a $350.00 target price on shares of Cencora in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $370.85.
Check Out Our Latest Stock Report on Cencora
Hedge Funds Weigh In On Cencora
A number of institutional investors have recently added to or reduced their stakes in the company. 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 acquiring an additional 74,241,125 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Cencora by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company's stock valued at $7,976,681,000 after acquiring an additional 221,570 shares during the period. BlackRock Inc. acquired a new position in shares of Cencora during the 2nd quarter worth about $5,154,136,000. State Street Corp increased its stake in shares of Cencora by 1.3% during the 4th quarter. State Street Corp now owns 9,305,507 shares of the company's stock worth $3,142,935,000 after purchasing an additional 115,191 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Cencora by 160.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company's stock valued at $2,262,956,000 after purchasing an additional 4,123,795 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.
Cencora Company Profile
(
Get Free Report)
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.
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