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

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.

Shares of Cencora, Inc. (NYSE:COR - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twelve analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $309.83.

Several analysts have recently commented on the stock. 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 report on Friday, April 11th. Citigroup boosted their price objective on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Robert W. Baird upped their price objective on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Jefferies Financial Group lifted their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Finally, Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd.

Insider Transactions at Cencora

In other news, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction 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 approximately $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven H. Collis sold 14,578 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the completion of the transaction, the chairman directly owned 309,913 shares in the company, valued at $90,702,237.71. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,125 shares of company stock worth $9,993,789. Insiders own 10.80% of the company's stock.

Hedge Funds Weigh In On Cencora

A number of hedge funds have recently added to or reduced their stakes in the stock. Atlantic Edge Private Wealth Management LLC increased 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 purchasing an additional 35 shares during the period. Net Worth Advisory Group grew its position in shares of Cencora by 1.4% during the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock worth $736,000 after buying an additional 36 shares in the last quarter. Obermeyer Wealth Partners increased its stake in shares of Cencora by 1.3% during the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock valued at $758,000 after buying an additional 36 shares during the period. Grove Bank & Trust raised its holdings in shares of Cencora by 4.3% in the second quarter. Grove Bank & Trust now owns 879 shares of the company's stock valued at $264,000 after acquiring an additional 36 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its stake in Cencora by 0.4% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 8,547 shares of the company's stock worth $2,563,000 after acquiring an additional 38 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Cencora Trading Up 0.8%

NYSE:COR opened at $288.31 on Friday. Cencora has a one year low of $218.65 and a one year high of $309.35. The business has a fifty day moving average price of $292.97 and a 200-day moving average price of $276.02. The firm has a market capitalization of $55.88 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 1.42 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The business'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 earnings per share. Sell-side analysts forecast that Cencora will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid 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 of this dividend was Friday, May 16th. Cencora's dividend payout ratio (DPR) 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.

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