Cencora (NYSE:COR) Price Target Raised to $287.00 at Robert W. Baird

Cencora (NYSE:COR) had its price target increased by Robert W. Baird from $285.00 to $287.00 in a report published on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities analysts also recently issued reports on the stock. Citigroup raised their price target on shares of Cencora from $265.00 to $280.00 and gave the company a buy rating in a research note on Tuesday, April 30th. StockNews.com downgraded Cencora from a strong-buy rating to a buy rating in a research note on Thursday, May 2nd. Finally, SVB Leerink reiterated an outperform rating and issued a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $249.63.

Cencora Stock Performance

Cencora stock traded down $4.49 on Thursday, hitting $243.08. The company’s stock had a trading volume of 54,818 shares, compared to its average volume of 1,382,635. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The firm has a market cap of $48.48 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45. The company has a fifty day moving average price of $228.85 and a 200-day moving average price of $231.36. Cencora has a one year low of $171.65 and a one year high of $247.66.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The company had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.92 earnings per share. On average, equities analysts anticipate that Cencora will post 13.56 earnings per share for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, August 9th. Cencora’s payout ratio is 22.32%.

Insider Activity at Cencora

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the sale, the insider now owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the sale, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,899,112 shares of company stock worth $408,654,376. Corporate insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Business Financial Services Inc. grew its holdings in shares of Cencora by 5.8% in the 2nd quarter. First Business Financial Services Inc. now owns 12,718 shares of the company’s stock valued at $2,865,000 after buying an additional 699 shares during the period. Impact Partnership Wealth LLC bought a new stake in Cencora during the 2nd quarter worth approximately $449,000. Range Financial Group LLC boosted its holdings in Cencora by 4.5% in the second quarter. Range Financial Group LLC now owns 7,914 shares of the company’s stock valued at $1,783,000 after acquiring an additional 339 shares during the last quarter. Consolidated Planning Corp increased its stake in shares of Cencora by 9.7% in the 2nd quarter. Consolidated Planning Corp now owns 1,247 shares of the company’s stock valued at $281,000 after acquiring an additional 110 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings in shares of Cencora by 2.1% during the second quarter. Foundations Investment Advisors LLC now owns 3,892 shares of the company’s stock valued at $877,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

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.