Cencora (NYSE:COR) Given New $280.00 Price Target at Evercore ISI

Cencora (NYSE:COR) had its target price raised by Evercore ISI from $270.00 to $280.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently commented on COR. UBS Group boosted their target price on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Mizuho initiated coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Barclays upped their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company raised their price target on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $277.90.

Cencora Trading Down 2.8 %

Shares of NYSE COR opened at $246.11 on Thursday. Cencora has a 1 year low of $214.77 and a 1 year high of $262.26. 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 firm has a 50-day moving average of $239.08 and a 200 day moving average of $236.51. The stock has a market cap of $47.57 billion, a P/E ratio of 32.77, a price-to-earnings-growth ratio of 1.59 and a beta of 0.49.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.51% and a return on equity of 266.62%. As a group, sell-side analysts expect that Cencora will post 15.32 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. Cencora’s payout ratio is 29.29%.

Insider Buying and Selling

In related news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the sale, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 73,187 shares of company stock valued at $17,790,912 over the last 90 days. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Cencora

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Freestone Capital Holdings LLC grew its stake in shares of Cencora by 0.8% during the 4th quarter. Freestone Capital Holdings LLC now owns 31,967 shares of the company’s stock valued at $7,183,000 after acquiring an additional 253 shares during the period. Lindbrook Capital LLC lifted its holdings in Cencora by 24.5% during the fourth quarter. Lindbrook Capital LLC now owns 661 shares of the company’s stock valued at $149,000 after purchasing an additional 130 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Cencora in the fourth quarter worth approximately $322,460,000. First Business Financial Services Inc. increased its stake in shares of Cencora by 2.5% in the fourth quarter. First Business Financial Services Inc. now owns 13,585 shares of the company’s stock worth $3,052,000 after purchasing an additional 330 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its position in shares of Cencora by 1.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock valued at $1,003,000 after purchasing an additional 47 shares during the period. 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.