Cencora (NYSE:COR) Price Target Raised to $277.00

Cencora (NYSE:COR) had its target price lifted by Robert W. Baird from $275.00 to $277.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Citigroup upped their price target on shares of Cencora from $265.00 to $280.00 and gave the company a buy rating in a research note on Tuesday, April 30th. Leerink Partnrs reaffirmed an outperform rating on shares of Cencora in a research note on Monday, February 26th. Barclays initiated coverage on shares of Cencora in a research note on Wednesday, January 3rd. They issued an overweight rating and a $242.00 target price on the stock. StockNews.com raised shares of Cencora from a buy rating to a strong-buy rating in a research note on Thursday, February 1st. Finally, Mizuho increased their target price on shares of Cencora from $192.00 to $224.00 and gave the company a neutral rating in a research note on Monday, February 5th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $233.90.

Cencora Price Performance

Shares of NYSE:COR opened at $223.95 on Thursday. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.52 and a current ratio of 0.89. The firm has a fifty day moving average price of $238.31 and a 200 day moving average price of $219.36. Cencora has a fifty-two week low of $163.37 and a fifty-two week high of $246.75. The firm has a market cap of $44.67 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 1.68 and a beta of 0.47.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. The company had revenue of $68.41 billion for the quarter, compared to the consensus estimate of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. Cencora’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.50 earnings per share. As a group, sell-side analysts expect that Cencora will post 13.44 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, May 9th. Cencora’s dividend payout ratio is presently 22.32%.

Insider Buying and Selling

In related news, CEO Steven H. Collis sold 10,754 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Cencora news, EVP Gina Clark sold 1,100 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $230.48, for a total transaction of $253,528.00. Following the transaction, the executive vice president now directly owns 24,802 shares in the company, valued at approximately $5,716,364.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $67,702,698.24. The disclosure for this sale can be found here. Insiders have sold 4,288,790 shares of company stock valued at $1,009,641,379 in the last 90 days. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

A number of institutional investors have recently modified their holdings of COR. Rise Advisors LLC bought a new stake in shares of Cencora in the 1st quarter valued at about $25,000. Legacy Bridge LLC acquired a new stake in Cencora in the 1st quarter worth approximately $27,000. WASHINGTON TRUST Co purchased a new stake in Cencora during the 1st quarter worth approximately $32,000. Hanson & Doremus Investment Management purchased a new stake in Cencora during the 1st quarter worth approximately $33,000. Finally, OFI Invest Asset Management purchased a new stake in Cencora during the 1st quarter worth approximately $33,000. 97.52% of the stock is currently owned by 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.