Wells Fargo & Company Forecasts Strong Price Appreciation for Cencora (NYSE:COR) Stock

Cencora (NYSE:COR) had its price objective upped by Wells Fargo & Company from $251.00 to $274.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday. Mizuho assumed coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. Finally, Evercore ISI increased their price objective on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $280.20.

Cencora Price Performance

Shares of NYSE COR opened at $258.09 on Friday. The stock has a market cap of $50.05 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 1.31 and a beta of 0.51. Cencora has a 52 week low of $214.77 and a 52 week high of $263.70. The company’s 50-day moving average price is $247.59 and its 200 day moving average price is $239.09. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, research analysts forecast that Cencora will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Friday, February 14th. Cencora’s payout ratio is currently 31.29%.

Insiders Place Their Bets

In related news, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the sale, the executive vice president now directly owns 15,374 shares in the company, valued at $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lazarus Krikorian sold 2,000 shares of Cencora stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at approximately $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,648 shares of company stock valued at $3,382,462 over the last 90 days. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cencora

Institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. grew its stake in Cencora by 0.6% during the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock valued at $1,765,000 after acquiring an additional 44 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake 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 in the last quarter. Shepherd Financial Partners LLC grew its stake in Cencora by 0.9% during the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock valued at $1,223,000 after acquiring an additional 46 shares in the last quarter. WASHINGTON TRUST Co grew its stake in Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after acquiring an additional 46 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other 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.