Cencora, Inc. (NYSE:COR) Receives $275.60 Consensus Target Price from Analysts

Cencora, Inc. (NYSE:COR) has earned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $275.60.

Several equities research analysts have recently commented on the stock. Bank of America reissued a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Mizuho started coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. Barclays raised their target price on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Wells Fargo & Company lowered their price target on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Finally, Robert W. Baird raised their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

Cencora Stock Performance

Shares of COR stock opened at $227.69 on Friday. Cencora has a 12 month low of $199.82 and a 12 month high of $253.27. The firm has a market capitalization of $44.01 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 1.54 and a beta of 0.45. The firm has a fifty day simple moving average of $239.00 and a two-hundred day simple moving average of $234.13. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is 29.29%.

Insider Activity

In other news, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares in the company, valued at approximately $79,670,111.29. This trade represents a 13.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 93,018 shares of company stock worth $22,478,942 in the last three months. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

Hedge funds have recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC raised its stake in shares of Cencora by 1.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after acquiring an additional 43 shares in the last quarter. Financial Advocates Investment Management boosted its position in Cencora by 4.7% during the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after buying an additional 44 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Cencora by 1.0% in the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after buying an additional 46 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after acquiring an additional 46 shares during the period. Finally, Checchi Capital Advisers LLC increased its stake in Cencora by 2.2% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after purchasing an additional 48 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.