Brokerages Set Cencora, Inc. (NYSE:COR) Price Target at $370.85

Shares of Cencora, Inc. (NYSE:COR) have been given an average rating of “Moderate Buy” by the sixteen analysts that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $370.8462.

COR has been the topic of several analyst reports. UBS Group raised their price target on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Robert W. Baird set a $370.00 target price on shares of Cencora in a research note on Thursday, August 6th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $330.00 price target on shares of Cencora in a report on Tuesday, September 8th. Barclays decreased their target price on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Finally, Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th.

Insider Buying and Selling

In related news, Director Lauren M. Tyler acquired 550 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the purchase, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This represents a 14.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the stock in a transaction that occurred on 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 approximately $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cencora

Hedge funds and other institutional investors have recently made changes to their positions in the business. Core Capital Management & Research inc. acquired a new stake in shares of Cencora during the second quarter worth about $4,484,000. National Pension Service grew its holdings in shares of Cencora by 3.9% in the 2nd quarter. National Pension Service now owns 737,713 shares of the company’s stock worth $208,758,000 after acquiring an additional 27,882 shares during the period. Engineers Gate Manager LP increased its holdings in Cencora by 407.9% during the 2nd quarter. Engineers Gate Manager LP now owns 38,453 shares of the company’s stock valued at $10,881,000 after acquiring an additional 30,882 shares in the last quarter. Cidel Asset Management Inc. lifted its position in shares of Cencora by 11.6% in the second quarter. Cidel Asset Management Inc. now owns 1,181 shares of the company’s stock valued at $334,000 after acquiring an additional 123 shares in the last quarter. Finally, Capital Analysts LLC grew its stake in Cencora by 564.5% in the 2nd quarter. Capital Analysts LLC now owns 206 shares of the company’s stock worth $58,000 after acquiring an additional 175 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Up 0.2%

COR stock opened at $321.44 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The firm has a 50 day moving average of $315.82 and a 200 day moving average of $308.62. The stock has a market capitalization of $61.34 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.82 and a beta of 0.57. Cencora has a 52 week low of $244.82 and a 52 week high of $377.54.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) 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 analysts’ expectations 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 period last year, the business posted $4.00 earnings per share. Sell-side analysts forecast that Cencora will post 17.87 earnings per share for the current year.

Cencora Announces Dividend

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 $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora’s payout ratio is currently 17.83%.

Cencora declared that its board has authorized a stock repurchase plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Cencora Company Profile

Cencora, Inc (NYSE:COR) is a global healthcare company that provides pharmaceutical sourcing, distribution and related services. The company connects biopharmaceutical manufacturers with pharmacies, hospitals, health systems, physician practices and other healthcare providers, helping move prescription medicines and healthcare products through the supply chain.

Cencora’s operations include pharmaceutical distribution, specialty pharmaceutical services, manufacturer support and patient-centered solutions.