Cencora (NYSE:COR) Given New $285.00 Price Target at Evercore ISI

Cencora (NYSE:COR) had its price objective increased by Evercore ISI from $250.00 to $285.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research firms have also recently weighed in on COR. JPMorgan Chase & Co. lifted their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Wells Fargo & Company raised their price target on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Bank of America restated a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Finally, Leerink Partners dropped their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus price target of $271.20.

Cencora Trading Up 0.3 %

NYSE COR traded up $0.65 during trading on Thursday, hitting $248.41. 1,376,044 shares of the company’s stock traded hands, compared to its average volume of 1,409,854. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. Cencora has a 12-month low of $191.11 and a 12-month high of $251.00. The stock has a fifty day moving average of $231.77 and a two-hundred day moving average of $230.76. The firm has a market cap of $48.95 billion, a P/E ratio of 32.99, a PEG ratio of 1.49 and a beta of 0.44.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.21 by $0.13. The business had revenue of $79.05 billion for the quarter, compared to analyst estimates of $77.68 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. As a group, sell-side analysts expect that Cencora will post 13.64 EPS for the current year.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.89%. Cencora’s dividend payout ratio is presently 29.29%.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

Several institutional investors and hedge funds have recently modified their holdings of the stock. New Millennium Group LLC purchased a new position in shares of Cencora during the 2nd quarter valued at approximately $26,000. TCTC Holdings LLC purchased a new position in Cencora in the first quarter valued at $29,000. TFO Wealth Partners LLC acquired a new position in shares of Cencora in the first quarter worth about $30,000. MFA Wealth Advisors LLC purchased a new stake in shares of Cencora in the second quarter valued at approximately $30,000. Finally, Concord Wealth Partners acquired a new position in shares of Cencora during the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds 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.