Cencora (NYSE:COR) Given New $237.00 Price Target at Wells Fargo & Company

Cencora (NYSE:COR) had its price objective cut by Wells Fargo & Company from $249.00 to $237.00 in a research note published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also recently issued reports on COR. Evercore ISI lifted their price objective on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Mizuho assumed coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Robert W. Baird upped their price objective on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Bank of America reiterated a “neutral” rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Cencora has an average rating of “Moderate Buy” and a consensus target price of $275.60.

Cencora Trading Up 0.1 %

Shares of Cencora stock opened at $232.24 on Friday. Cencora has a 52-week low of $195.83 and a 52-week high of $253.27. The firm has a market capitalization of $44.89 billion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 1.54 and a beta of 0.45. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The company’s fifty day moving average price is $238.36 and its two-hundred day moving average price is $234.14.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.55 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.95%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is 29.29%.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the transaction, 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 have sold a total of 93,018 shares of company stock valued at $22,478,942 in the last ninety days. 15.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cencora

Institutional investors and hedge funds have recently bought and sold shares of the company. Dynamic Advisor Solutions LLC grew its holdings in Cencora by 9.4% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,012 shares of the company’s stock worth $228,000 after acquiring an additional 87 shares during the period. ORG Partners LLC acquired a new position in Cencora in the second quarter valued at approximately $81,000. Blue Trust Inc. boosted its holdings in shares of Cencora by 58.5% during the 2nd quarter. Blue Trust Inc. now owns 1,330 shares of the company’s stock worth $323,000 after buying an additional 491 shares in the last quarter. Vista Investment Partners LLC grew its position in shares of Cencora by 1.0% during the 2nd quarter. Vista Investment Partners LLC now owns 19,393 shares of the company’s stock worth $4,369,000 after buying an additional 195 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Cencora by 185.5% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 131,873 shares of the company’s stock valued at $29,710,000 after acquiring an additional 85,680 shares in the last quarter. Institutional investors and hedge funds 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.