Cencora, Inc. (NYSE:COR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cencora, Inc. (NYSE:COR) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $258.63.

COR has been the subject of several research reports. Citigroup increased their target price on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Wells Fargo & Company raised their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Robert W. Baird upped their target price on shares of Cencora from $285.00 to $287.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, SVB Leerink restated an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th.

Cencora Price Performance

COR opened at $239.27 on Friday. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.53 and a current ratio of 0.89. The stock has a market capitalization of $47.72 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45. The stock’s 50 day moving average price is $231.58 and its 200-day moving average price is $232.73. Cencora has a 52-week low of $171.65 and a 52-week high of $247.66.

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

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.85%. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Insider Activity

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the transaction, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. Insiders have sold a total of 4,479,366 shares of company stock worth $1,076,666,297 over the last 90 days. 15.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cencora

Large investors have recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC purchased a new position in shares of Cencora in the 2nd quarter worth $655,000. TD Asset Management Inc bought a new stake in shares of Cencora during the 1st quarter valued at about $95,313,000. LSV Asset Management bought a new stake in shares of Cencora during the 1st quarter valued at about $3,579,000. Cairn Investment Group Inc. purchased a new stake in shares of Cencora during the 1st quarter valued at about $2,294,000. Finally, Lake Street Advisors Group LLC bought a new position in shares of Cencora in the 1st quarter worth approximately $836,000. 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.