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

Shares of Cencora, Inc. (NYSE:COR) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $258.13.

Several analysts recently commented on the company. Leerink Partners restated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Wells Fargo & Company raised their target price on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird lowered their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th.

Cencora Trading Down 2.8 %

Shares of NYSE COR opened at $234.53 on Wednesday. The company has a market cap of $46.78 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44. Cencora has a 12-month low of $177.00 and a 12-month high of $247.66. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The stock’s 50 day simple moving average is $234.52 and its 200 day simple moving average is $233.26.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. During the same period last year, the firm earned $2.92 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts expect that Cencora will post 13.63 EPS for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio is presently 22.32%.

Insider Transactions at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, 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 filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, 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 filing with the SEC, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 in the last three months. 15.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Cencora

Several hedge funds and other institutional investors have recently modified their holdings of COR. Rise Advisors LLC acquired a new stake in shares of Cencora in the first quarter worth $25,000. New Millennium Group LLC acquired a new stake in shares of Cencora in the second quarter worth $26,000. Legacy Bridge LLC acquired a new stake in shares of Cencora in the first quarter worth $27,000. TCTC Holdings LLC acquired a new stake in Cencora during the first quarter valued at $29,000. Finally, TFO Wealth Partners LLC acquired a new stake in Cencora during the first quarter valued at $30,000. 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.