Analysts Set Cencora, Inc. (NYSE:COR) Price Target at $374.25

Shares of Cencora, Inc. (NYSE:COR) have received a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $374.25.

COR has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Evercore restated an “outperform” rating and issued a $350.00 target price on shares of Cencora in a report on Thursday, August 6th. Barclays dropped their price target on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Robert W. Baird set a $370.00 price objective on shares of Cencora in a research report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th.

Cencora Price Performance

NYSE:COR opened at $313.86 on Wednesday. The firm has a market capitalization of $59.89 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.78 and a beta of 0.57. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The business has a 50 day simple moving average of $298.98 and a 200-day simple moving average of $313.24. Cencora has a 1 year low of $244.82 and a 1 year high of $377.54.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.00 EPS. Equities analysts forecast that Cencora will post 17.84 EPS for the current year.

Cencora announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora’s dividend payout ratio is currently 17.83%.

Insider Activity

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, with a total value of $148,626.50. Following the purchase, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of Cencora

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kemnay Advisory Services Inc. bought a new position in shares of Cencora in the fourth quarter worth about $25,000. Oakworth Capital Inc. purchased a new position in Cencora in the 4th quarter worth about $26,000. Elyxium Wealth LLC purchased a new position in Cencora in the 4th quarter worth about $27,000. Archer Investment Corp lifted its holdings in Cencora by 134.3% during the 4th quarter. Archer Investment Corp now owns 82 shares of the company’s stock valued at $28,000 after buying an additional 47 shares in the last quarter. Finally, Motiv8 Investments LLC bought a new stake in Cencora during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Company Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.