Cencora, Inc. (NYSE:COR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Cencora, Inc. (NYSE:COR) have received an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $277.90.

Several brokerages have weighed in on COR. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. StockNews.com lowered shares of Cencora from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Wells Fargo & Company raised their price objective on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. Finally, Evercore ISI raised their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert P. Mauch sold 4,970 shares of Cencora stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the completion of the sale, the chief executive officer now owns 51,070 shares in the company, valued at approximately $13,022,850. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,648 shares of company stock worth $2,862,342 in the last ninety days. 10.80% of the stock is owned by insiders.

Institutional Trading of Cencora

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hickory Asset Management Inc. bought a new stake in shares of Cencora during the 4th quarter worth about $572,000. Sylvest Advisors LLC bought a new stake in shares of Cencora during the 4th quarter worth about $1,105,000. Insight Wealth Strategies LLC raised its position in shares of Cencora by 124.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock worth $4,549,000 after buying an additional 11,232 shares in the last quarter. Cerity Partners LLC raised its position in shares of Cencora by 10.1% during the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock worth $8,881,000 after buying an additional 3,610 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of Cencora by 46.9% during the 4th quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company’s stock worth $1,403,000 after buying an additional 1,995 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Price Performance

COR opened at $254.54 on Wednesday. The firm has a market cap of $49.36 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 1.31 and a beta of 0.51. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora has a twelve month low of $214.77 and a twelve month high of $262.26. The company has a fifty day simple moving average of $244.34 and a 200 day simple moving average of $238.39.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Equities research analysts expect that Cencora will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.86%. Cencora’s dividend payout ratio is presently 31.29%.

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.