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

Key Points

• Cencora, Inc. has received a consensus recommendation of "Moderate Buy" from twelve analysts, with an average price target of $311.25.
• Insider selling has been notable, with Chairman Steven H. Collis selling 31,350 shares and CEO Robert P. Mauch selling 4,968 shares, indicating a decrease in their positions.
• The company reported earnings of $4.00 EPS for the last quarter, surpassing estimates and achieving an 8.7% year-over-year revenue growth.

Shares of Cencora, Inc. (NYSE:COR - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twelve analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $311.25.

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group increased their target price 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. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company increased their target price on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. This represents a 9.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction 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 transaction, the chief executive officer owned 42,351 shares in the company, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,475 shares of company stock valued at $19,080,900. Insiders own 10.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Cencora by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 22,479,041 shares of the company's stock worth $6,740,340,000 after purchasing an additional 1,125,661 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Cencora by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock worth $2,682,821,000 after purchasing an additional 787,858 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Cencora by 7.2% during the 1st quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company's stock worth $1,507,599,000 after purchasing an additional 363,402 shares during the last quarter. Boston Partners increased its stake in shares of Cencora by 8.1% during the 1st quarter. Boston Partners now owns 5,411,193 shares of the company's stock worth $1,505,984,000 after purchasing an additional 404,093 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Cencora by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 4,787,609 shares of the company's stock worth $1,429,772,000 after purchasing an additional 284,229 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Stock Down 0.2%

Shares of NYSE:COR opened at $290.32 on Friday. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The company has a market cap of $56.29 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62. Cencora has a 52 week low of $218.65 and a 52 week high of $309.35. The firm has a 50 day simple moving average of $292.42 and a 200 day simple moving average of $287.06.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.34 EPS. As a group, research analysts expect that Cencora will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given a $0.55 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. Cencora's dividend payout ratio is presently 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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