Brokerages Set Cencora, Inc. (NYSE:COR) PT at $280.20

Cencora, Inc. (NYSE:COR) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $280.20.

Several research firms have recently weighed in on COR. Wells Fargo & Company upped their price objective on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Evercore ISI upped their price target on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lifted their price objective on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th.

Cencora Stock Performance

Shares of NYSE COR opened at $279.29 on Friday. The firm has a market capitalization of $54.16 billion, a price-to-earnings ratio of 39.73, a PEG ratio of 1.31 and a beta of 0.55. Cencora has a one year low of $214.77 and a one year high of $296.65. The business has a fifty day simple moving average of $257.28 and a 200 day simple moving average of $242.70. 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 (NYSE:COR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Sell-side analysts expect that Cencora will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio (DPR) is presently 31.29%.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now directly owns 15,374 shares in the company, valued at $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the sale, the chairman now directly owns 317,913 shares of the company’s stock, valued at $85,680,732.63. This represents a 4.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,675 shares of company stock worth $8,034,778 over the last 90 days. Insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in COR. Norges Bank acquired a new position in Cencora in the fourth quarter valued at about $478,309,000. Bank of America Corp DE raised its position in shares of Cencora by 62.3% in the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock valued at $1,166,944,000 after acquiring an additional 1,994,256 shares during the period. Castlekeep Investment Advisors LLC bought a new position in Cencora during the 4th quarter worth approximately $399,508,000. Raymond James Financial Inc. acquired a new position in Cencora during the fourth quarter valued at approximately $322,460,000. Finally, Invesco Ltd. increased its stake in Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock valued at $728,757,000 after purchasing an additional 550,246 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

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.