Cencora’s (COR) “Outperform” Rating Reiterated at SVB Leerink

SVB Leerink restated their outperform rating on shares of Cencora (NYSE:COR) in a research report report published on Thursday morning, Benzinga reports. SVB Leerink currently has a $275.00 target price on the stock.

Several other analysts have also recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Cencora from $275.00 to $277.00 and gave the company an outperform rating in a report on Thursday, May 2nd. StockNews.com cut shares of Cencora from a strong-buy rating to a buy rating in a report on Thursday, May 2nd. Finally, Citigroup raised their price objective on Cencora from $265.00 to $280.00 and gave the company a buy rating in a research report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Cencora presently has an average rating of Moderate Buy and a consensus price target of $235.30.

Cencora Stock Down 1.2 %

Shares of Cencora stock opened at $225.30 on Thursday. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89. Cencora has a 52-week low of $171.65 and a 52-week high of $246.75. The stock has a market capitalization of $44.94 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 1.57 and a beta of 0.48. The company’s 50 day moving average price is $229.12 and its 200-day moving average price is $228.16.

Cencora (NYSE:COR) last released its quarterly 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 business had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.50 earnings per share. Equities research analysts forecast that Cencora will post 13.44 EPS for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Thursday, May 9th. Cencora’s dividend payout ratio is presently 22.32%.

Insider Transactions at Cencora

In other news, EVP Gina Clark sold 1,874 shares of Cencora stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $223.86, for a total value of $419,513.64. Following the completion of the transaction, the executive vice president now owns 13,284 shares of the company’s stock, valued at approximately $2,973,756.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Gina Clark sold 1,874 shares of Cencora stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $223.86, for a total value of $419,513.64. Following the completion of the transaction, the executive vice president now owns 13,284 shares of the company’s stock, valued at approximately $2,973,756.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dermot Mark Durcan bought 500 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was acquired at an average cost of $218.58 per share, with a total value of $109,290.00. Following the transaction, the director now owns 21,876 shares in the company, valued at approximately $4,781,656.08. The disclosure for this purchase can be found here. Insiders sold a total of 1,956,675 shares of company stock valued at $422,352,056 in the last quarter. 15.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Cencora

A number of hedge funds have recently bought and sold shares of COR. Vanguard Group Inc. purchased a new position in Cencora in the 4th quarter worth about $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new position in Cencora in the 1st quarter worth about $2,183,619,000. JPMorgan Chase & Co. bought a new stake in shares of Cencora during the 1st quarter valued at about $1,199,695,000. Boston Partners bought a new stake in shares of Cencora during the 1st quarter valued at about $1,001,269,000. Finally, Capital Research Global Investors bought a new stake in shares of Cencora during the 1st quarter valued at about $650,424,000. Hedge funds and other institutional investors 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.