Brokerages Set Cencora, Inc. (NYSE:COR) PT at $309.83

Key Points

• Cencora, Inc. (NYSE:COR) has received a consensus rating of "Moderate Buy" from twelve analysts, with an average 12-month target price of $309.83.
• CEO Robert P. Mauch and Chairman Steven H. Collis have recently sold shares, reducing their ownership by 10.50% and 4.49% respectively.
• Cencora reported earnings per share of $4.42 for the last quarter, exceeding the consensus estimate of $4.07.

Cencora, Inc. (NYSE:COR - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twelve brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $309.8333.

Several research analysts have recently commented on the stock. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. 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 research report on Monday, June 30th. Citigroup increased their price target 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. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Finally, UBS Group increased their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction that occurred on 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 directly owned 311,913 shares in the company, valued at $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,125 shares of company stock valued at $9,993,789. Company insiders own 10.80% of the company's stock.

Institutional Investors Weigh In On Cencora

A number of hedge funds have recently bought and sold shares of the business. Atlantic Edge Private Wealth Management LLC grew its holdings in Cencora by 70.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company's stock worth $25,000 after acquiring an additional 35 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after buying an additional 48 shares during the last quarter. Hoey Investments Inc. purchased a new position in shares of Cencora in the 1st quarter valued at approximately $28,000. Costello Asset Management INC purchased a new position in shares of Cencora in the 1st quarter valued at approximately $28,000. Finally, Banque Transatlantique SA purchased a new position in shares of Cencora in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Stock Performance

Shares of COR stock traded down $0.57 on Friday, reaching $293.07. The stock had a trading volume of 459,506 shares, compared to its average volume of 1,560,210. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. The firm's 50-day moving average is $293.00 and its two-hundred day moving average is $276.90. The firm has a market capitalization of $56.80 billion, a price-to-earnings ratio of 33.98, a P/E/G ratio of 1.43 and a beta of 0.58. Cencora has a 12 month low of $218.65 and a 12 month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results 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. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. During the same period in the prior year, the firm earned $3.80 EPS. The business's revenue was up 10.3% on a year-over-year basis. On average, research analysts expect that Cencora will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio is presently 25.52%.

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.