Cencora (NYSE:COR) Given New $275.00 Price Target at Leerink Partners

Cencora (NYSE:COR) had its price target lowered by Leerink Partners from $277.00 to $275.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms also recently commented on COR. StockNews.com downgraded shares of Cencora from a strong-buy rating to a buy rating in a research note on Friday, September 20th. Robert W. Baird dropped their price target on Cencora from $287.00 to $283.00 and set an outperform rating on the stock in a research note on Friday, September 6th. Bank of America restated a neutral rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. JPMorgan Chase & Co. upped their target price on Cencora from $280.00 to $287.00 and gave the company an overweight rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company raised their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an equal weight rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Cencora currently has an average rating of Moderate Buy and a consensus target price of $259.44.

Cencora Price Performance

NYSE COR opened at $222.20 on Monday. Cencora has a 12-month low of $182.75 and a 12-month high of $247.66. The firm’s fifty day simple moving average is $233.47 and its two-hundred day simple moving average is $231.62. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The firm has a market capitalization of $44.32 billion, a P/E ratio of 24.31, a P/E/G ratio of 1.58 and a beta of 0.44.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.16. The firm had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.92 EPS. Analysts forecast that Cencora will post 13.63 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.92%. Cencora’s payout ratio is 22.32%.

Insider Activity

In related news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction dated 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 transaction, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 in the last three months. 15.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Ayrshire Capital Management LLC increased its holdings in Cencora by 1.5% in the 3rd quarter. Ayrshire Capital Management LLC now owns 24,525 shares of the company’s stock worth $5,520,000 after acquiring an additional 374 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Cencora by 41.6% in the third quarter. Exchange Traded Concepts LLC now owns 5,334 shares of the company’s stock valued at $1,201,000 after purchasing an additional 1,568 shares during the period. Retirement Planning Group LLC purchased a new stake in shares of Cencora during the third quarter worth about $251,000. Ritholtz Wealth Management raised its position in shares of Cencora by 0.8% during the 3rd quarter. Ritholtz Wealth Management now owns 10,560 shares of the company’s stock worth $2,377,000 after purchasing an additional 82 shares during the last quarter. Finally, Gateway Investment Advisers LLC lifted its stake in Cencora by 9.0% in the 3rd quarter. Gateway Investment Advisers LLC now owns 4,388 shares of the company’s stock valued at $988,000 after buying an additional 364 shares in the last quarter. 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.