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

Cencora, Inc. (NYSE:COR) has been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $258.13.

COR has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Leerink Partners reissued an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird decreased their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Finally, Wells Fargo & Company lifted their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st.

Insider Activity

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the transaction, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock worth $1,070,392,799 over the last 90 days. 15.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cencora

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. bought a new stake in Cencora during the fourth quarter worth approximately $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Cencora during the 1st quarter worth about $2,183,619,000. JPMorgan Chase & Co. bought a new stake in shares of Cencora in the 1st quarter valued at approximately $1,199,695,000. Boston Partners bought a new position in Cencora during the first quarter valued at approximately $1,001,269,000. Finally, Capital Research Global Investors bought a new stake in Cencora in the first quarter worth approximately $650,424,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Stock Up 0.4 %

Cencora stock opened at $237.53 on Wednesday. Cencora has a fifty-two week low of $172.41 and a fifty-two week high of $247.66. The company has a market cap of $46.81 billion, a PE ratio of 25.99, a PEG ratio of 1.54 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The business’s 50-day simple moving average is $232.70 and its two-hundred day simple moving average is $233.22.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the previous year, the firm posted $2.92 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts anticipate that Cencora will post 13.61 EPS for the current year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio is currently 22.32%.

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.