Cencora (NYSE:COR) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Cencora (NYSE:COR - Free Report) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday, MarketBeat.com reports. The brokerage currently has $337.00 price target on the stock, up from their prior price target of $274.00.

Other equities research analysts have also issued reports about the company. Evercore ISI raised their price objective on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Robert W. Baird increased their price objective on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Citigroup increased their price target on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. UBS Group upped their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Morgan Stanley set a $288.00 price objective on shares of Cencora in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $306.91.

Cencora Price Performance

Shares of Cencora stock traded down $1.11 during trading hours on Tuesday, hitting $287.91. The company's stock had a trading volume of 1,190,057 shares, compared to its average volume of 1,531,521. The business has a 50 day moving average price of $285.86 and a two-hundred day moving average price of $259.51. The company has a market cap of $55.80 billion, a PE ratio of 40.95, a PEG ratio of 1.31 and a beta of 0.60. Cencora has a 12-month low of $218.65 and a 12-month high of $309.35. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. The business had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.80 EPS. Analysts expect that Cencora will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio (DPR) is currently 25.52%.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the sale, the chief executive officer now owns 47,582 shares of the company's stock, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total value of $4,108,507.99. Following the completion of the transaction, the chairman now directly owns 315,913 shares in the company, valued at $89,027,442.53. This represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,253 shares of company stock valued at $11,102,417 over the last 90 days. Insiders own 10.80% of the company's stock.

Institutional Investors Weigh In On Cencora

A number of large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Cencora in the 4th quarter valued at $478,309,000. Bank of America Corp DE lifted its position in Cencora by 62.3% during the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after purchasing an additional 1,994,256 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in Cencora in the fourth quarter valued at $399,508,000. GAMMA Investing LLC grew its position in Cencora by 43,561.9% during the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock worth $444,516,000 after purchasing an additional 1,594,800 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Cencora during the 4th quarter worth about $322,460,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

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.