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

Shares of Cencora, Inc. (NYSE:COR) have received an average rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $258.63.

Several equities research analysts recently weighed in on COR shares. SVB Leerink restated an “outperform” rating and set a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. JPMorgan Chase & Co. upped their target price on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Citigroup raised their price objective on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th.

Insider Transactions at Cencora

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction on Thursday, August 1st. The shares were 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 in the company, valued at approximately $4,806,388,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gina Clark sold 27,093 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $216.07, for a total value of $5,853,984.51. Following the transaction, the executive vice president now owns 15,158 shares in the company, valued at approximately $3,275,189.06. The disclosure for this sale can be found here. Insiders sold 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

Several institutional investors have recently made changes to their positions in COR. Rise Advisors LLC acquired a new stake in shares of Cencora in the first quarter valued at about $25,000. Legacy Bridge LLC purchased a new position in Cencora in the first quarter valued at about $27,000. New Millennium Group LLC acquired a new stake in shares of Cencora during the 2nd quarter valued at approximately $26,000. TCTC Holdings LLC purchased a new stake in shares of Cencora during the 1st quarter worth approximately $29,000. Finally, TFO Wealth Partners LLC acquired a new stake in shares of Cencora in the 1st quarter worth approximately $30,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Down 1.2 %

NYSE COR opened at $237.74 on Friday. Cencora has a 52 week low of $171.65 and a 52 week high of $247.66. The firm has a 50 day moving average of $231.85 and a two-hundred day moving average of $232.81. The stock has a market capitalization of $47.42 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.93.

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

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be paid a $0.51 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.86%. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

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.