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

Cencora, Inc. (NYSE:COR) has earned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $324.9091.

COR has been the topic of several research analyst reports. Evercore ISI set a $340.00 price objective on Cencora in a research report on Wednesday, October 8th. Morgan Stanley set a $330.00 target price on Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Wall Street Zen downgraded shares of Cencora from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Wells Fargo & Company increased their price target on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a research report on Wednesday, October 8th.

Cencora Stock Up 0.9%

Cencora stock opened at $327.56 on Thursday. Cencora has a fifty-two week low of $223.92 and a fifty-two week high of $329.58. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The firm’s 50-day simple moving average is $301.04 and its 200 day simple moving average is $293.60. The stock has a market cap of $63.51 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 1.52 and a beta of 0.63.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. During the same quarter last year, the business posted $3.34 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts predict that Cencora will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s payout ratio is 22.63%.

Insider Buying and Selling at Cencora

In other news, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the transaction, the chief executive officer owned 39,274 shares of the company’s stock, valued at $11,389,460. This represents a 11.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares of the company’s stock, valued at $88,671,942.18. The trade was a 9.30% decrease in their position. The disclosure for this sale can be found here. 10.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cencora

Institutional investors have recently added to or reduced their stakes in the business. Voleon Capital Management LP purchased a new stake in shares of Cencora during the 1st quarter valued at approximately $3,111,000. Exchange Traded Concepts LLC raised its holdings in Cencora by 4.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock valued at $307,000 after acquiring an additional 48 shares during the period. Focus Partners Wealth lifted its position in shares of Cencora by 25.8% during the first quarter. Focus Partners Wealth now owns 5,715 shares of the company’s stock worth $1,589,000 after acquiring an additional 1,171 shares in the last quarter. Martin Capital Partners LLC boosted its holdings in shares of Cencora by 205.2% in the second quarter. Martin Capital Partners LLC now owns 3,784 shares of the company’s stock worth $1,135,000 after acquiring an additional 2,544 shares during the period. Finally, Fiduciary Alliance LLC bought a new position in shares of Cencora in the second quarter worth $262,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

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.