Cencora, Inc. (NYSE:COR) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analyst consensus is “Moderate Buy”: Fourteen of 18 covering brokerages recommend buying Cencora, while four rate it a hold. The average 12-month price target is $366.44 versus the reported share price of $330.77.
• Cencora beat quarterly expectations: The company reported adjusted EPS of $4.48, topping the $4.35 consensus estimate, and revenue of $84.75 billion, up 5.1% year over year.
• Institutional ownership remains high: Institutional investors own 97.52% of the stock, while insider ownership is 0.38%; EVP Elizabeth Campbell recently sold 11,300 shares for approximately $3.66 million.

Shares of Cencora, Inc. (NYSE:COR - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eighteen brokerages that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $366.44.

Several brokerages have recently weighed in on COR. UBS Group decreased their price objective on Cencora from $430.00 to $400.00 and set a "buy" rating on the stock in a report on Friday, October 16th. Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Evercore restated an "outperform" rating and issued a $350.00 target price (up from $330.00) on shares of Cencora in a research note on Thursday, August 6th. Weiss Ratings upgraded Cencora from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, October 6th. Finally, Argus raised their target price on Cencora from $340.00 to $380.00 and gave the stock a "buy" rating in a research report on Tuesday, October 20th.

Insider Transactions at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cencora

A number of hedge funds and other institutional investors have recently made changes to their positions in COR. BlackRock Inc. acquired a new position in Cencora in the second quarter worth about $5,154,136,000. Bank of America Corp DE boosted its holdings in Cencora by 6.9% during the first quarter. Bank of America Corp DE now owns 4,138,388 shares of the company's stock valued at $1,300,033,000 after purchasing an additional 267,318 shares in the last quarter. Amundi boosted its holdings in Cencora by 43.5% during the second quarter. Amundi now owns 2,229,326 shares of the company's stock valued at $630,855,000 after purchasing an additional 676,066 shares in the last quarter. Carmignac Gestion grew its stake in shares of Cencora by 58.7% in the 2nd quarter. Carmignac Gestion now owns 1,747,363 shares of the company's stock valued at $494,463,000 after purchasing an additional 646,112 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Cencora by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,549,047 shares of the company's stock valued at $486,576,000 after purchasing an additional 35,569 shares during the period. 97.52% of the stock is owned by institutional investors.

Cencora Stock Down 0.1%

NYSE COR opened at $330.77 on Monday. Cencora has a twelve month low of $244.82 and a twelve month high of $377.54. The stock has a market cap of $63.12 billion, a PE ratio of 24.57, a PEG ratio of 1.70 and a beta of 0.58. The firm has a 50-day simple moving average of $322.35 and a 200 day simple moving average of $303.94. 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 (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company posted $4.00 earnings per share. On average, research analysts forecast that Cencora will post 17.87 EPS for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora's payout ratio is 17.83%.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.

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