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

Key Points

• Cencora, Inc. has received a consensus rating of "Moderate Buy" from analysts, with nine buy ratings and three hold ratings among twelve covering firms.
• The average 1-year price target for Cencora shares is $311.25, with several analysts recently raising their targets, including Citigroup's increase to $355.00.
• The company announced a quarterly dividend of $0.55 per share, representing an annualized yield of 0.8%, with a payout ratio of 22.63%.

Cencora, Inc. (NYSE:COR - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twelve research firms that are currently covering the stock, Marketbeat reports. Three 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 $311.25.

A number of equities analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Citigroup lifted their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Jefferies Financial Group lifted their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. Wells Fargo & Company lifted their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley set a $330.00 price target on shares of Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th.

Insider Transactions at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the sale, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction dated 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 directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cencora

Several large investors have recently added to or reduced their stakes in COR. Bernard Wealth Management Corp. purchased a new stake in Cencora in the 4th quarter valued at about $67,000. Coldstream Capital Management Inc. raised its holdings in shares of Cencora by 3.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 3,399 shares of the company's stock valued at $764,000 after purchasing an additional 100 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cencora in the 4th quarter valued at about $1,392,000. The Manufacturers Life Insurance Company raised its holdings in shares of Cencora by 67.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 844,179 shares of the company's stock valued at $189,670,000 after purchasing an additional 340,862 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Cencora by 11.6% in the 4th quarter. Northern Trust Corp now owns 2,421,237 shares of the company's stock valued at $544,004,000 after purchasing an additional 252,028 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

Shares of NYSE:COR opened at $289.61 on Wednesday. Cencora has a 52 week low of $218.65 and a 52 week high of $309.35. The stock has a market capitalization of $56.15 billion, a P/E ratio of 29.80, a PEG ratio of 1.37 and a beta of 0.58. The firm has a fifty day simple moving average of $293.33 and a two-hundred day simple moving average of $281.21. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64.

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

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's payout ratio is currently 22.63%.

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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