Brokerages Set Cencora, Inc. (NYSE:COR) Target Price at $218.22

Shares of Cencora, Inc. (NYSE:COR - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight analysts that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $218.22.

COR has been the subject of a number of research analyst reports. Barclays initiated coverage on shares of Cencora in a research note on Wednesday, January 3rd. They issued an "overweight" rating and a $242.00 price target for the company. SVB Leerink started coverage on shares of Cencora in a research note on Monday, February 26th. They issued an "outperform" rating and a $261.00 price target for the company. StockNews.com upgraded shares of Cencora from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 1st. Mizuho boosted their target price on shares of Cencora from $192.00 to $224.00 and gave the company a "neutral" rating in a research report on Monday, February 5th. Finally, Leerink Partnrs restated an "outperform" rating on shares of Cencora in a research report on Monday, February 26th.

Insiders Place Their Bets

In other Cencora news, EVP Elizabeth S. Campbell sold 6,977 shares of the company's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $238.12, for a total value of $1,661,363.24. Following the completion of the transaction, the executive vice president now directly owns 8,246 shares in the company, valued at $1,963,537.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total value of $991,639,906.95. Following the transaction, the insider now owns 26,277,561 shares of the company's stock, valued at $6,186,000,635.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Elizabeth S. Campbell sold 6,977 shares of the business's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $238.12, for a total transaction of $1,661,363.24. Following the completion of the transaction, the executive vice president now directly owns 8,246 shares in the company, valued at approximately $1,963,537.52. The disclosure for this sale can be found here. Insiders sold a total of 4,220,472 shares of company stock worth $993,554,798 over the last three months. 15.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cencora

Hedge funds have recently modified their holdings of the stock. Virginia Retirement Systems ET AL purchased a new position in shares of Cencora in the second quarter worth $4,888,000. Comerica Bank purchased a new stake in Cencora during the second quarter valued at $27,675,000. California State Teachers Retirement System raised its stake in shares of Cencora by 6.9% in the second quarter. California State Teachers Retirement System now owns 276,863 shares of the company's stock valued at $53,277,000 after acquiring an additional 17,948 shares during the period. Park National Corp OH purchased a new stake in shares of Cencora in the first quarter valued at $5,947,000. Finally, Symmetry Partners LLC purchased a new stake in shares of Cencora in the first quarter valued at $1,860,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Stock Down 0.7 %

Cencora stock traded down $1.64 during trading hours on Friday, hitting $234.00. The stock had a trading volume of 822,327 shares, compared to its average volume of 917,288. The company has a quick ratio of 0.52, a current ratio of 0.88 and a debt-to-equity ratio of 3.94. The stock has a market capitalization of $46.68 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 1.79 and a beta of 0.45. Cencora has a 12-month low of $163.37 and a 12-month high of $246.75. The stock's 50-day moving average price is $237.44 and its 200-day moving average price is $213.42.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, January 31st. The company reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.42. The business had revenue of $72.25 billion during the quarter, compared to analysts' expectations of $68.81 billion. Cencora had a net margin of 0.69% and a return on equity of 323.23%. During the same period in the previous year, the company earned $2.71 earnings per share. Equities research analysts anticipate that Cencora will post 13.43 EPS for the current fiscal year.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were given a $0.51 dividend. This is a positive change from Cencora's previous quarterly dividend of $0.24. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Thursday, February 8th. Cencora's dividend payout ratio is presently 22.22%.

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.