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

Shares of Cencora, Inc. (NYSE:COR - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $306.33.

Several equities analysts have recently weighed in on the company. Citigroup raised their price objective on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Morgan Stanley set a $288.00 price target on Cencora in a report on Tuesday, April 15th. UBS Group raised their price objective on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Jefferies Financial Group lifted their target price on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. Finally, Bank of America lifted their target price on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th.

Cencora Stock Up 0.7%

Shares of NYSE COR traded up $2.10 during mid-day trading on Tuesday, hitting $300.13. The company had a trading volume of 762,290 shares, compared to its average volume of 1,505,783. The company has a market capitalization of $58.17 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 1.50 and a beta of 0.57. The firm has a 50-day simple moving average of $291.72 and a two-hundred day simple moving average of $268.75. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. Cencora has a one year low of $218.65 and a one year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.35. The company had revenue of $75.50 billion during the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. Cencora's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.80 EPS. On average, equities analysts expect that Cencora will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio is presently 25.52%.

Insider Buying and Selling

In other news, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the completion of the sale, the chief executive officer directly owned 47,582 shares in the company, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the sale, the chairman owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,127 shares of company stock valued at $9,812,296. Corporate insiders own 10.80% of the company's stock.

Institutional Investors Weigh In On Cencora

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC lifted its stake in Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after purchasing an additional 48 shares during the last quarter. Hoey Investments Inc. acquired a new stake in Cencora in the first quarter valued at $28,000. Costello Asset Management INC acquired a new stake in Cencora in the first quarter valued at $28,000. Banque Transatlantique SA bought a new stake in Cencora during the fourth quarter valued at $29,000. Finally, SBI Securities Co. Ltd. bought a new stake in Cencora during the fourth quarter valued at $30,000. 97.52% of the stock is currently owned by institutional investors.

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.