Shares of Cencora, Inc. (NYSE:COR – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $366.44.
COR has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Cencora from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 6th. Wells Fargo & Company boosted their price objective on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Morgan Stanley upped their price objective on shares of Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Argus raised their target price on shares of Cencora from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, August 7th.
Get Our Latest Stock Report on Cencora
Insider Transactions at Cencora
In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the sale, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is owned by company insiders.
Institutional Investors Weigh In On Cencora
Several hedge funds and other institutional investors have recently made changes to their positions in COR. Avestar Capital LLC acquired a new position in shares of Cencora in the 3rd quarter worth approximately $343,000. State of Wyoming bought a new position in shares of Cencora during the 3rd quarter worth approximately $271,000. Raleigh Capital Management Inc. lifted its position in shares of Cencora by 8.5% during the 3rd quarter. Raleigh Capital Management Inc. now owns 753 shares of the company’s stock worth $226,000 after buying an additional 59 shares during the period. Brian Low Financial Group LLC lifted its position in shares of Cencora by 5.2% during the 3rd quarter. Brian Low Financial Group LLC now owns 6,171 shares of the company’s stock worth $1,853,000 after buying an additional 304 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in Cencora by 45.8% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 96,833 shares of the company’s stock valued at $29,074,000 after buying an additional 30,400 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.
Cencora Stock Performance
Shares of NYSE COR opened at $324.15 on Monday. The business’s 50-day simple moving average is $322.76 and its 200-day simple moving average is $317.61. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora has a 52 week low of $244.82 and a 52 week high of $377.54. The firm has a market cap of $61.86 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 1.70 and a beta of 0.58.
Cencora (NYSE:COR – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.00 EPS. As a group, equities research analysts expect that Cencora will post 17.87 earnings per share for the current fiscal year.
Cencora Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora’s payout ratio is currently 17.83%.
About Cencora
Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.
The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.
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