Cencora, Inc. (NYSE:COR) Receives $275.60 Average PT from Brokerages

Cencora, Inc. (NYSE:COR) has been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $275.60.

Several equities research analysts have issued reports on the stock. Leerink Partners decreased their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Mizuho began coverage on Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. Evercore ISI boosted their price objective on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays raised their target price on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Bank of America reissued a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $383,792.16. Following the completion of the sale, the executive vice president now owns 20,329 shares in the company, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,696 shares of company stock valued at $22,862,734 in the last quarter. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

Several large investors have recently made changes to their positions in COR. Principal Financial Group Inc. raised its position in shares of Cencora by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 306,726 shares of the company’s stock worth $69,038,000 after buying an additional 19,831 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Cencora by 4.0% during the third quarter. Retirement Systems of Alabama now owns 37,987 shares of the company’s stock valued at $8,550,000 after acquiring an additional 1,470 shares during the period. Franklin Resources Inc. raised its holdings in Cencora by 20.4% during the third quarter. Franklin Resources Inc. now owns 207,131 shares of the company’s stock worth $46,564,000 after purchasing an additional 35,024 shares in the last quarter. Peapack Gladstone Financial Corp lifted its position in Cencora by 2.8% in the third quarter. Peapack Gladstone Financial Corp now owns 3,240 shares of the company’s stock worth $729,000 after purchasing an additional 88 shares during the period. Finally, Synovus Financial Corp boosted its stake in Cencora by 8.3% during the 3rd quarter. Synovus Financial Corp now owns 16,199 shares of the company’s stock valued at $3,646,000 after purchasing an additional 1,242 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Performance

NYSE COR opened at $226.59 on Friday. The business’s 50-day simple moving average is $238.76 and its 200-day simple moving average is $233.97. The firm has a market capitalization of $43.80 billion, a P/E ratio of 30.17, a P/E/G ratio of 1.54 and a beta of 0.45. Cencora has a 1-year low of $203.23 and a 1-year high of $253.27. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.55 dividend. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Friday, November 15th. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

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.