Cencora, Inc. (NYSE:COR) Stock Has Average Target Price of $370.85 According to Brokerages

Key Points

• Cencora has a “Moderate Buy” consensus rating from 16 brokerages, with 13 buys and three holds. Analysts’ average 12-month price target is $370.85, implying potential upside from the reported $300.71 share price.
• The company exceeded quarterly expectations, reporting adjusted EPS of $4.48 versus the $4.35 consensus and revenue of $84.75 billion, up 5.1% year over year.
• Cencora pays a quarterly dividend of $0.60 per share, or $2.40 annualized, for a 0.8% yield; institutional investors own 97.52% of the company’s stock.

Cencora, Inc. (NYSE:COR - Get Free Report) has received a consensus rating of "Moderate Buy" from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $370.85.

A number of brokerages have recently issued reports on COR. Wells Fargo & Company increased their target price on Cencora from $331.00 to $395.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Barclays cut their price target on shares of Cencora from $425.00 to $350.00 and set an "overweight" rating for the company in a report on Wednesday, June 10th. Royal Bank Of Canada restated a "sector perform" rating and set a $330.00 price objective on shares of Cencora in a research report on Tuesday, September 8th. Weiss Ratings upgraded shares of Cencora from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Finally, Evercore reissued an "outperform" rating and set a $350.00 target price on shares of Cencora in a research note on Thursday, August 6th.

Cencora Trading Down 2.2%

Shares of Cencora stock opened at $300.71 on Thursday. The firm has a 50-day simple moving average of $318.02 and a two-hundred day simple moving average of $303.61. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The company has a market cap of $57.38 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 1.74 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating analysts' consensus estimates of $4.35 by $0.13. The firm had revenue of $84.75 billion for the quarter, compared to analysts' expectations of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $4.00 EPS. As a group, equities analysts predict that Cencora will post 17.87 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, August 14th. Cencora's payout ratio is 17.83%.

Insider Buying and Selling

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares of the company's stock, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.38% of the company's stock.

Institutional Trading of Cencora

Several large investors have recently made changes to their positions in COR. Elevation Wealth Partners LLC grew its holdings in shares of Cencora by 506.2% during the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock worth $27,000 after buying an additional 81 shares in the last quarter. Bell Investment Advisors Inc purchased a new position in shares of Cencora in the second quarter worth about $28,000. Caitlin John LLC purchased a new position in shares of Cencora in the second quarter worth about $28,000. Cassaday & Co Wealth Management LLC acquired a new position in Cencora during the first quarter worth about $35,000. Finally, Western Wealth Management LLC acquired a new position in Cencora during the first quarter worth about $49,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.

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