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

Shares of Cencora, Inc. (NYSE:COR) have received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $306.91.

A number of equities analysts have weighed in on COR shares. Robert W. Baird boosted their price target on Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Bank of America boosted their target price on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Citigroup lifted their price objective on shares of Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Finally, Wells Fargo & Company upgraded shares of Cencora from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd.

Insider Transactions at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the transaction, the chief executive officer now owns 47,582 shares in the company, valued at $13,766,900.06. This trade represents a 9.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the company’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total value of $4,108,507.99. Following the sale, the chairman now owns 315,913 shares of the company’s stock, valued at approximately $89,027,442.53. The trade was a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,253 shares of company stock valued at $10,582,297. 10.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Cornerstone Planning Group LLC raised its position in Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after purchasing an additional 48 shares in the last quarter. JFS Wealth Advisors LLC boosted its holdings in shares of Cencora by 63.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 46 shares in the last quarter. Hoey Investments Inc. bought a new position in shares of Cencora in the 1st quarter valued at $28,000. Costello Asset Management INC acquired a new position in shares of Cencora during the 1st quarter worth $28,000. Finally, Banque Transatlantique SA acquired a new position in shares of Cencora during the 4th quarter worth $29,000. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Shares of COR opened at $293.17 on Friday. The company has a market cap of $56.82 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 1.45 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The company’s fifty day simple moving average is $287.98 and its 200 day simple moving average is $262.32. Cencora has a 1-year low of $218.65 and a 1-year high of $309.35.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same period in the previous year, the business earned $3.80 EPS. Cencora’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts forecast that Cencora will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora’s payout ratio is 25.52%.

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.