Cencora (NYSE:COR) Price Target Cut to $283.00

Cencora (NYSE:COR) had its price target decreased by Robert W. Baird from $287.00 to $283.00 in a research report report published on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. Leerink Partners reaffirmed an outperform rating and issued a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company raised their target price on Cencora from $236.00 to $249.00 and gave the stock an equal weight rating in a report on Thursday, August 1st. Finally, StockNews.com upgraded Cencora from a buy rating to a strong-buy rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cencora presently has a consensus rating of Moderate Buy and a consensus price target of $258.13.

Cencora Stock Performance

Shares of COR stock opened at $234.93 on Friday. The firm has a market capitalization of $46.86 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 1.57 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The business has a fifty day moving average of $232.25 and a 200 day moving average of $233.18. Cencora has a 1 year low of $172.41 and a 1 year high of $247.66.

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

Cencora Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.87%. Cencora’s payout ratio is 22.32%.

Insiders Place Their Bets

In related news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction on 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 sale, the chief executive officer now 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 this hyperlink. In related news, CEO Steven H. Collis sold 10,755 shares of the company’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 completion of the transaction, the chief executive officer now owns 285,088 shares in the company, valued at approximately $63,323,746.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,450,399 shares of company stock worth $1,070,392,799. 15.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.