Cencora, Inc. (NYSE:COR) Receives $370.85 Average Price Target from Brokerages

Shares of Cencora, Inc. (NYSE:COR) have been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $370.8462.

A number of research analysts have recently issued reports on COR shares. Bank of America raised their price objective on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Barclays lowered their target price on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Citigroup restated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Wells Fargo & Company lifted their price target on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Finally, Evercore reiterated an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a research report on Thursday, August 6th.

Cencora Stock Down 0.6%

Shares of NYSE COR opened at $321.34 on Friday. Cencora has a one year low of $244.82 and a one year high of $377.54. 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 firm’s 50 day simple moving average is $315.32 and its two-hundred day simple moving average is $308.53. The stock has a market capitalization of $61.32 billion, a P/E ratio of 23.87, a PEG ratio of 1.83 and a beta of 0.57.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same period in the previous year, the business posted $4.00 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts expect that Cencora will post 17.87 EPS for the current fiscal year.

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

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora’s payout ratio is presently 17.83%.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth S. Campbell sold 11,300 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren M. Tyler acquired 550 shares of the stock in a transaction dated Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, with a total value of $148,626.50. Following the completion of 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 position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of COR. Kemnay Advisory Services Inc. purchased a new stake in Cencora in the 4th quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new position in shares of Cencora during the fourth quarter valued at approximately $27,000. Elevation Wealth Partners LLC increased its stake in shares of Cencora by 506.2% during the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after buying an additional 81 shares during the period. Bell Investment Advisors Inc bought a new position in shares of Cencora during the second quarter valued at approximately $28,000. Finally, Caitlin John LLC purchased a new stake in Cencora in the second quarter worth $28,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

About Cencora

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.