Evercore ISI Trims Cencora (NYSE:COR) Target Price to $250.00

Cencora (NYSE:COR) had its price objective decreased by Evercore ISI from $270.00 to $250.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Cencora from $280.00 to $287.00 and gave the stock an overweight rating in a report on Wednesday, August 21st. Wells Fargo & Company boosted their target price on Cencora from $236.00 to $249.00 and gave the company an equal weight rating in a research note on Thursday, August 1st. Leerink Partners dropped their price target on shares of Cencora from $277.00 to $275.00 and set an outperform rating on the stock in a research note on Monday. Bank of America reissued a neutral rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Finally, StockNews.com downgraded Cencora from a strong-buy rating to a buy rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $259.44.

Cencora Price Performance

Shares of NYSE COR opened at $222.20 on Tuesday. Cencora has a twelve month low of $182.75 and a twelve 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 firm has a 50-day moving average of $233.47 and a two-hundred day moving average of $231.62. The company has a market capitalization of $44.32 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 1.58 and a beta of 0.44.

Cencora (NYSE:COR) last released 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. The business had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.92 earnings per share. As a group, analysts expect that Cencora will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s payout ratio is presently 22.32%.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 1,473 shares of the 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 transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora 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 transaction, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock worth $1,070,392,799 over the last 90 days. 15.80% of the stock is owned by insiders.

Institutional Trading of Cencora

Several institutional investors and hedge funds have recently added to or reduced their stakes in COR. Kingswood Wealth Advisors LLC bought a new position in shares of Cencora during the second quarter worth approximately $655,000. TD Asset Management Inc bought a new stake in shares of Cencora during the 1st quarter worth approximately $95,313,000. LSV Asset Management acquired a new stake in shares of Cencora during the 1st quarter worth approximately $3,579,000. Cairn Investment Group Inc. bought a new position in Cencora in the first quarter valued at approximately $2,294,000. Finally, Lake Street Advisors Group LLC acquired a new position in Cencora during the first quarter valued at approximately $836,000. 97.52% of the stock is owned by institutional investors.

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.