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

Shares of Cencora, Inc. (NYSE:COR - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eleven research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $306.33.

A number of research firms have issued reports on COR. Robert W. Baird boosted their price objective on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Citigroup increased their price objective on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. UBS Group raised their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Bank of America raised their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th.

Cencora Stock Performance

Shares of COR traded down $2.25 during midday trading on Tuesday, reaching $295.07. The stock had a trading volume of 970,795 shares, compared to its average volume of 1,507,719. The firm has a 50 day simple moving average of $291.85 and a 200-day simple moving average of $269.23. Cencora has a one year low of $218.65 and a one year high of $309.35. The firm has a market cap of $57.19 billion, a PE ratio of 34.23, a P/E/G ratio of 1.49 and a beta of 0.57. 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 (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. The business had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. Cencora's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.80 EPS. As a group, sell-side analysts anticipate that Cencora will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.75%. Cencora's dividend payout ratio (DPR) is presently 25.52%.

Insider Transactions at Cencora

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

Hedge Funds Weigh In On Cencora

Several hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its position in Cencora by 212.4% during the fourth quarter. Jones Financial Companies Lllp now owns 2,390 shares of the company's stock valued at $537,000 after purchasing an additional 1,625 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Cencora in the 4th quarter worth approximately $30,000. Proficio Capital Partners LLC bought a new stake in shares of Cencora in the 4th quarter worth approximately $31,936,000. Candriam S.C.A. lifted its holdings in shares of Cencora by 2.2% in the 4th quarter. Candriam S.C.A. now owns 8,040 shares of the company's stock worth $1,806,000 after acquiring an additional 176 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its holdings in shares of Cencora by 7.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 5,508 shares of the company's stock worth $1,237,000 after acquiring an additional 398 shares during the last quarter. 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.