Cencora, Inc. (NYSE:COR) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Cencora, Inc. (NYSE:COR) have been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $271.20.

Several analysts have recently weighed in on COR shares. Bank of America restated a “neutral” rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Evercore ISI raised their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Barclays increased their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird boosted their price objective on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th.

Cencora Trading Down 0.3 %

Shares of COR opened at $245.02 on Monday. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. Cencora has a 1-year low of $195.83 and a 1-year high of $251.56. The company has a market capitalization of $48.28 billion, a P/E ratio of 32.63, a P/E/G ratio of 1.63 and a beta of 0.44. The firm’s 50 day simple moving average is $233.22 and its 200 day simple moving average is $231.65.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.55 per share. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio is currently 29.29%.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the sale, the chairman now owns 306,752 shares in the company, valued at $74,283,064.32. The trade was a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

A number of large investors have recently modified their holdings of COR. State Street Corp increased its stake in shares of Cencora by 3.8% in the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after acquiring an additional 291,867 shares in the last quarter. Wellington Management Group LLP raised its stake in Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after buying an additional 338,452 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Cencora by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after acquiring an additional 189,054 shares during the period. Boston Partners purchased a new position in shares of Cencora in the first quarter worth approximately $1,001,269,000. Finally, Pacer Advisors Inc. grew its position in shares of Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after acquiring an additional 2,035,679 shares during the period. Institutional investors own 97.52% of the company’s stock.

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.