Cencora (NYSE:COR) Given New $285.00 Price Target at UBS Group

Cencora (NYSE:COR) had its target price raised by UBS Group from $275.00 to $285.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

COR has been the topic of several other research reports. JPMorgan Chase & Co. boosted their price target on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Evercore ISI boosted their target price on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays increased their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday. Wells Fargo & Company boosted their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, Leerink Partners dropped their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

Cencora Stock Performance

COR traded up $0.65 on Thursday, hitting $248.41. 1,376,044 shares of the stock traded hands, compared to its average volume of 1,409,854. The firm has a market capitalization of $48.95 billion, a PE ratio of 32.99, a P/E/G ratio of 1.49 and a beta of 0.44. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The business has a fifty day moving average price of $231.77 and a two-hundred day moving average price of $230.76. Cencora has a 52 week low of $191.11 and a 52 week high of $251.00.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, November 6th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.13. The business had revenue of $79.05 billion for the quarter, compared to analyst estimates of $77.68 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. On average, research analysts predict that Cencora will post 13.64 EPS for the current fiscal year.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.55 per share. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.89%. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the transaction, the chairman now owns 285,088 shares of the company’s stock, valued at $67,223,750.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New Millennium Group LLC bought a new stake in Cencora during the 2nd quarter worth $26,000. TCTC Holdings LLC acquired a new stake in shares of Cencora during the first quarter valued at about $29,000. TFO Wealth Partners LLC bought a new stake in shares of Cencora during the first quarter worth about $30,000. LRI Investments LLC acquired a new position in shares of Cencora in the first quarter valued at approximately $31,000. Finally, MFA Wealth Advisors LLC bought a new position in Cencora in the 2nd quarter valued at approximately $30,000. 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.