Cencora (NYSE:COR) Price Target Raised to $274.00

Cencora (NYSE:COR) had its price target increased by Wells Fargo & Company from $251.00 to $274.00 in a research note released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also issued reports about the stock. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Evercore ISI increased their target price on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lifted their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Mizuho started coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have assigned 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 price target of $280.20.

Cencora Price Performance

Shares of COR opened at $258.09 on Friday. The firm has a market capitalization of $50.05 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 1.31 and a beta of 0.51. The firm’s fifty day simple moving average is $247.59 and its 200-day simple moving average is $239.15. Cencora has a twelve month low of $214.77 and a twelve month high of $263.70. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Equities analysts forecast that Cencora will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Friday, February 14th. Cencora’s payout ratio is currently 31.29%.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert P. Mauch sold 4,970 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total value of $1,267,350.00. Following the completion of the sale, the chief executive officer now directly owns 51,070 shares of the company’s stock, valued at $13,022,850. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,648 shares of company stock worth $3,382,462 over the last 90 days. 10.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cencora

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Centaurus Financial Inc. raised its holdings in Cencora by 37.5% during the fourth quarter. Centaurus Financial Inc. now owns 2,462 shares of the company’s stock worth $553,000 after purchasing an additional 672 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Cencora during the 4th quarter worth $136,000. Siemens Fonds Invest GmbH boosted its position in shares of Cencora by 944.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 19,972 shares of the company’s stock worth $4,645,000 after buying an additional 18,060 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Cencora in the 4th quarter valued at about $38,652,000. Finally, Azzad Asset Management Inc. ADV increased its holdings in Cencora by 34.5% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 10,905 shares of the company’s stock valued at $2,450,000 after acquiring an additional 2,800 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

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.