Cencora, Inc. (NYSE:COR) Receives $306.91 Average Price Target from Brokerages

Cencora, Inc. (NYSE:COR - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the ten brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $306.91.

A number of equities analysts have recently commented on COR shares. Bank of America lifted their price target 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. UBS Group raised their price objective on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Citigroup upped their price objective 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.

Insider Buying and Selling

In other Cencora news, EVP Elizabeth S. Campbell sold 4,127 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the sale, the executive vice president now owns 14,665 shares of the company's stock, valued at approximately $3,934,326.20. This represents a 21.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,969 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $289.33, for a total value of $1,437,680.77. Following the sale, the chief executive officer now owns 47,582 shares of the company's stock, valued at $13,766,900.06. This trade represents a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,253 shares of company stock worth $10,582,297 in the last ninety days. 10.80% of the stock is owned by insiders.

Institutional Trading of Cencora

A number of institutional investors have recently modified their holdings of the business. Hickory Asset Management Inc. purchased a new position in shares of Cencora in the 4th quarter worth about $572,000. Vontobel Holding Ltd. grew its stake in shares of Cencora by 46.9% in the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company's stock worth $1,403,000 after purchasing an additional 1,995 shares during the last quarter. Certuity LLC purchased a new position in shares of Cencora during the fourth quarter valued at approximately $295,000. Westpac Banking Corp increased its position in Cencora by 13.5% during the 4th quarter. Westpac Banking Corp now owns 21,895 shares of the company's stock valued at $4,919,000 after purchasing an additional 2,596 shares during the period. Finally, CIBC Asset Management Inc increased its position in shares of Cencora by 3.3% during the fourth quarter. CIBC Asset Management Inc now owns 40,542 shares of the company's stock valued at $9,101,000 after buying an additional 1,305 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Up 0.0%

Shares of COR traded up $0.08 during trading on Friday, reaching $295.12. The company's stock had a trading volume of 966,888 shares, compared to its average volume of 1,523,803. The company has a market cap of $57.20 billion, a price-to-earnings ratio of 41.98, a P/E/G ratio of 1.31 and a beta of 0.58. The company has a fifty day moving average of $286.82 and a two-hundred day moving average of $261.33. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora has a twelve month low of $218.65 and a twelve month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The business had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. During the same period in the previous year, the business posted $3.80 EPS. The company's quarterly revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts predict that Cencora will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

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

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.