Brokerages Set Cencora, Inc. (NYSE:COR) Price Target at $238.78

Shares of Cencora, Inc. (NYSE:COR) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $238.78.

Several equities analysts recently weighed in on COR shares. Robert W. Baird lifted their price target on Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. SVB Leerink reissued an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. Finally, Citigroup upped their price objective on shares of Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th.

Cencora Stock Down 0.2 %

Cencora stock opened at $227.18 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. Cencora has a 52 week low of $171.65 and a 52 week high of $246.75. The business’s 50-day moving average price is $227.08 and its 200 day moving average price is $230.76. The firm has a market cap of $45.31 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 1.58 and a beta of 0.45.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.65 by $0.15. The firm had revenue of $68.41 billion during the quarter, compared to analyst estimates of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.50 EPS. As a group, sell-side analysts anticipate that Cencora will post 13.46 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Thursday, May 9th. Cencora’s dividend payout ratio is currently 22.32%.

Insider Buying and Selling

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction on 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 completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were 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 in the company, valued at approximately $63,323,746.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gina Clark sold 1,874 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $223.86, for a total transaction of $419,513.64. Following the sale, the executive vice president now owns 13,284 shares of the company’s stock, valued at approximately $2,973,756.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,899,112 shares of company stock worth $408,654,376. 15.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cencora

Several large investors have recently modified their holdings of the business. Rise Advisors LLC acquired a new stake in shares of Cencora during the 1st quarter worth about $25,000. New Millennium Group LLC acquired a new stake in shares of Cencora during the second quarter valued at about $26,000. Legacy Bridge LLC purchased a new stake in shares of Cencora in the 1st quarter valued at approximately $27,000. TCTC Holdings LLC acquired a new position in shares of Cencora in the 1st quarter worth approximately $29,000. Finally, TFO Wealth Partners LLC acquired a new position in shares of Cencora in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

About Cencora

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.