The Chart of the Day belongs to the medical distribution company Cencora (COR) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 12/ 22 the stock gained 7.88%.
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. This segment also distributes plasma and other blood products, injectable pharmaceuticals, vaccines, and other specialty products; and provides other services to physicians who specialize in various disease states, such as oncology, as well as to other healthcare providers, including hospitals and dialysis clinics. Its International Healthcare Solutions segment offers international pharmaceutical wholesale and related service, and global commercialization services; distributes pharmaceuticals, other healthcare products, and related services to pharmacies, doctors, health centers, and hospitals primarily in Europe; and provides specialty transportation and logistics services for the biopharmaceutical industry. The company was formerly known as AmerisourceBergen Corporation and changed its name to Cencora, Inc. in August 2023. Cencora, Inc. was incorporated in 2001 and is headquartered in Conshohocken, Pennsylvania.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 39.46+ Weighted Alpha
- 33.33% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 14 new highs and up 9.34% in the last month
- Relative Strength Index 78.68%
- Technical support level at $218.44
- Recently traded at $219.00 with 50 day moving average of $202.82
Fundamental Factors:
- Market Cap $44 billion
- P/E 18.26
- Dividend yield .90%
- Wall Street projects Revenue will grow 8.30% this year and another 6.10% next year
- Earnings are estimated to increase 7.70% this yea, an additional 8.80% next year then continue to compound at an annual rate of 8.70% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts issued 8 strong buy, 2 buy, 5 hold and 1 under preform recommendations on the stock
- Analysts price targets are $192 to $242 with a consensus of $213 - that's below today's price so why so many strong buys and buys???
- The individual investors following the stock on Motley Fool voted 309 to 34 for the stock to beat the market with the most experienced investors voting 61 to 5 for the same result
- Value Line gives the stock its above average rating of 2 with a 3-5 year price target of $200 to $270
- CFRAs MarketScope has a 4 star buy rating but a 12 month price target of $222 - Not far above today's price
- 22,420 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
