Cencora (NYSE:COR) Shares Gap Down to $239.05

Cencora, Inc. (NYSE:COR) shares gapped down before the market opened on Wednesday . The stock had previously closed at $239.05, but opened at $229.15. Cencora shares last traded at $226.95, with a volume of 445,751 shares traded.

Analysts Set New Price Targets

Several brokerages have recently commented on COR. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cencora in a report on Monday, February 26th. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 1st. Mizuho raised their target price on shares of Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Barclays assumed coverage on shares of Cencora in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $242.00 price objective on the stock. Finally, SVB Leerink assumed coverage on shares of Cencora in a research note on Monday, February 26th. They issued an “outperform” rating and a $261.00 price objective on the stock. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $224.40.

Cencora Trading Down 3.8 %

The company has a market cap of $45.87 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 1.83 and a beta of 0.45. The business’s fifty day moving average price is $238.85 and its 200 day moving average price is $218.56. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.88 and a quick ratio of 0.52.

Cencora (NYSE:COR) last released its earnings results on Wednesday, January 31st. The company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.42. The business had revenue of $72.25 billion for the quarter, compared to analyst estimates of $68.81 billion. Cencora had a net margin of 0.69% and a return on equity of 323.23%. During the same quarter in the previous year, the business earned $2.71 earnings per share. Research analysts anticipate that Cencora, Inc. will post 13.43 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Steven H. Collis sold 10,754 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $67,702,698.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Steven H. Collis sold 10,754 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gina Clark sold 1,100 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $230.48, for a total transaction of $253,528.00. Following the sale, the executive vice president now directly owns 24,802 shares of the company’s stock, valued at $5,716,364.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,288,790 shares of company stock worth $1,009,641,379. Company insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

A number of institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in shares of Cencora during the 1st quarter valued at approximately $25,000. Legacy Bridge LLC purchased a new stake in Cencora in the 1st quarter worth approximately $27,000. WASHINGTON TRUST Co purchased a new stake in Cencora in the 1st quarter worth approximately $32,000. Hanson & Doremus Investment Management purchased a new stake in Cencora in the 1st quarter worth approximately $33,000. Finally, OFI Invest Asset Management purchased a new stake in Cencora in the 1st quarter worth approximately $33,000. 97.52% of the stock is owned by institutional investors.

Cencora Company Profile

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.