Cencora, Inc. (NYSE:COR) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Cencora, Inc. has a current average analyst rating of "Moderate Buy", with nine buy ratings and three hold ratings from twelve analysts.
• The company's stock opened at $320.02 and has a market capitalization of $62.05 billion, alongside a reported 8.7% revenue increase year-over-year.
• Cencora declared a quarterly dividend of $0.55, resulting in an annualized yield of 0.7% and a payout ratio of 22.63%.

Shares of Cencora, Inc. (NYSE:COR - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and nine have given 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 $320.00.

Several brokerages recently commented on COR. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cencora in a research report on Wednesday, October 8th. Jefferies Financial Group increased their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Evercore ISI set a $340.00 price target on shares of Cencora in a report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th.

Cencora Stock Performance

Shares of Cencora stock opened at $320.02 on Thursday. The firm has a market capitalization of $62.05 billion, a P/E ratio of 32.92, a PEG ratio of 1.49 and a beta of 0.63. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The company has a 50 day moving average price of $298.69 and a 200 day moving average price of $292.53. Cencora has a 52 week low of $223.92 and a 52 week high of $320.37.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora's revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $3.34 EPS. Sell-side analysts expect that Cencora will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora's dividend payout ratio is 22.63%.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the transaction, the chief executive officer owned 39,274 shares in the company, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,993 shares of company stock worth $16,292,923. 10.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cencora

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC grew its stake in shares of Cencora by 5.7% during the 3rd quarter. CWM LLC now owns 12,460 shares of the company's stock worth $3,894,000 after purchasing an additional 668 shares during the period. BSW Wealth Partners acquired a new stake in shares of Cencora during the 3rd quarter worth approximately $205,000. Milestone Asset Management LLC grew its stake in shares of Cencora by 374.8% during the 3rd quarter. Milestone Asset Management LLC now owns 3,461 shares of the company's stock worth $1,082,000 after purchasing an additional 2,732 shares during the period. Norden Group LLC grew its stake in shares of Cencora by 40.8% during the 3rd quarter. Norden Group LLC now owns 1,042 shares of the company's stock worth $326,000 after purchasing an additional 302 shares during the period. Finally, Private Trust Co. NA grew its stake in shares of Cencora by 3.0% during the 3rd quarter. Private Trust Co. NA now owns 2,055 shares of the company's stock worth $642,000 after purchasing an additional 59 shares during the period. 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.

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