Brokerages Set Cencora, Inc. (NYSE:COR) Target Price at $235.30

Cencora, Inc. (NYSE:COR) has been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $235.30.

A number of analysts have recently issued reports on COR shares. Citigroup boosted 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. Robert W. Baird boosted their price objective on Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. SVB Leerink restated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research report on Thursday, June 27th. Finally, StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd.

Insider Activity at Cencora

In other Cencora news, Director Dermot Mark Durcan acquired 500 shares of Cencora stock in a transaction on Friday, May 24th. The shares were bought at an average price of $218.58 per share, with a total value of $109,290.00. Following the completion of the purchase, the director now owns 21,876 shares in the company, valued at $4,781,656.08. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the transaction, the insider now owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dermot Mark Durcan acquired 500 shares of Cencora stock in a transaction on Friday, May 24th. The stock was acquired at an average cost of $218.58 per share, for a total transaction of $109,290.00. Following the purchase, the director now owns 21,876 shares of the company’s stock, valued at approximately $4,781,656.08. The disclosure for this purchase can be found here. Insiders have sold a total of 1,956,675 shares of company stock valued at $422,352,056 in the last 90 days. 15.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cencora

Large investors have recently made changes to their positions in the company. Cairn Investment Group Inc. acquired a new position in shares of Cencora during the first quarter valued at $2,294,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Cencora during the first quarter valued at $1,862,000. NBC Securities Inc. acquired a new position in shares of Cencora during the first quarter valued at $976,000. Park Avenue Securities LLC acquired a new position in shares of Cencora during the first quarter valued at $2,114,000. Finally, Alaska Permanent Fund Corp acquired a new position in shares of Cencora during the first quarter valued at $1,819,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Performance

Shares of NYSE COR opened at $222.56 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. The business’s 50 day moving average is $228.55 and its two-hundred day moving average is $228.47. The company has a market cap of $44.39 billion, a P/E ratio of 24.35, a P/E/G ratio of 1.57 and a beta of 0.45. Cencora has a 12 month low of $171.65 and a 12 month high of $246.75.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.65 by $0.15. The company had revenue of $68.41 billion for the quarter, compared to the consensus estimate of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.50 EPS. On average, equities analysts expect that Cencora will post 13.44 EPS for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio is 22.32%.

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.