Cencora, Inc. (NYSE:COR) Receives $275.60 Average Target Price from Brokerages

Shares of Cencora, Inc. (NYSE:COR) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $275.60.

Several equities analysts recently weighed in on the stock. Mizuho started coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. UBS Group raised their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI upped their price objective on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird raised their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays upped their price target on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the sale, the chairman now directly owns 306,752 shares of the company’s stock, valued at $74,283,064.32. This represents a 6.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,696 shares of company stock worth $22,862,734 over the last ninety days. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. New Millennium Group LLC bought a new position in shares of Cencora in the 2nd quarter worth $26,000. Concord Wealth Partners purchased a new position in Cencora in the third quarter worth $30,000. SYSTM Wealth Solutions LLC bought a new position in Cencora in the second quarter valued at $36,000. Ashton Thomas Securities LLC purchased a new stake in Cencora during the third quarter valued at about $41,000. Finally, Family Firm Inc. bought a new stake in Cencora during the second quarter worth about $45,000. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Down 0.0 %

COR stock opened at $227.54 on Friday. The stock has a market cap of $43.98 billion, a P/E ratio of 30.30, a P/E/G ratio of 1.54 and a beta of 0.45. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The stock’s fifty day simple moving average is $239.06 and its two-hundred day simple moving average is $234.07. Cencora has a 1-year low of $202.43 and a 1-year high of $253.27.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is presently 29.29%.

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.