Cencora, Inc. (NYSE:COR) Receives $218.22 Average Price Target from Analysts

Shares of Cencora, Inc. (NYSE:COR) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $218.22.

Several research analysts have issued reports on COR shares. SVB Leerink started coverage on Cencora in a report on Monday, February 26th. They issued an “outperform” rating and a $261.00 price target on the stock. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 1st. Mizuho upped their price target on Cencora from $192.00 to $224.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Barclays started coverage on Cencora in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $242.00 price target on the stock. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cencora in a report on Monday, February 26th.

Insider Activity

In other news, CEO Steven H. Collis sold 10,754 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were 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 directly owns 285,088 shares in the company, valued at approximately $67,702,698.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total value of $991,639,906.95. Following the completion of the sale, the insider now directly owns 26,277,561 shares in the company, valued at $6,186,000,635.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven H. Collis sold 10,754 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The disclosure for this sale can be found here. Insiders have sold a total of 4,288,790 shares of company stock worth $1,009,641,379 in the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

A number of large investors have recently bought and sold shares of COR. Vanguard Group Inc. bought a new stake in Cencora in the fourth quarter worth $4,212,508,000. Price T Rowe Associates Inc. MD boosted its holdings in Cencora by 2,004.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,171,292 shares of the company’s stock valued at $691,225,000 after acquiring an additional 3,973,094 shares during the period. Norges Bank bought a new stake in Cencora during the fourth quarter valued at about $261,294,000. Invesco Ltd. boosted its holdings in Cencora by 42.3% during the first quarter. Invesco Ltd. now owns 2,079,491 shares of the company’s stock valued at $321,717,000 after acquiring an additional 618,248 shares during the period. Finally, Woodline Partners LP boosted its holdings in Cencora by 903.4% during the second quarter. Woodline Partners LP now owns 679,012 shares of the company’s stock valued at $130,662,000 after acquiring an additional 611,339 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Performance

COR opened at $237.30 on Friday. The company has a market capitalization of $47.34 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 1.82 and a beta of 0.45. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.88 and a quick ratio of 0.52. Cencora has a 1-year low of $163.37 and a 1-year high of $246.75. The business has a 50 day moving average price of $237.53 and a two-hundred day moving average price of $214.64.

Cencora (NYSE:COR) last released its earnings results on Wednesday, January 31st. The company reported $3.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.42. The firm had revenue of $72.25 billion during the quarter, compared to the consensus estimate of $68.81 billion. Cencora had a return on equity of 323.23% and a net margin of 0.69%. During the same period in the prior year, the firm posted $2.71 earnings per share. Research analysts predict that Cencora will post 13.43 EPS for the current fiscal year.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 9th were issued a dividend of $0.51 per share. This is a boost from Cencora’s previous quarterly dividend of $0.24. This represents a $2.04 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Thursday, February 8th. Cencora’s payout ratio is currently 22.22%.

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.