Cencora (NYSE:COR) Given New $390.00 Price Target at JPMorgan Chase & Co.

Cencora (NYSE:COR) had its price objective lifted by JPMorgan Chase & Co. from $382.00 to $390.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

COR has been the subject of a number of other research reports. Weiss Ratings lowered shares of Cencora from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. William Blair began coverage on shares of Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating for the company. Wells Fargo & Company decreased their price objective on shares of Cencora from $429.00 to $331.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Robert W. Baird set a $370.00 price objective on shares of Cencora in a research note on Thursday. Finally, Evercore restated an “outperform” rating and issued a $350.00 target price on shares of Cencora in a research report on Thursday. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and an average price target of $368.92.

Cencora Trading Down 1.3%

Shares of COR stock opened at $320.62 on Friday. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.59 and a current ratio of 0.93. Cencora has a 1 year low of $244.82 and a 1 year high of $377.54. The stock has a fifty day moving average of $293.89 and a two-hundred day moving average of $314.42. The firm has a market capitalization of $62.38 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.87 and a beta of 0.57.

Cencora (NYSE:COR) last released its quarterly earnings results 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. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. During the same quarter in the prior year, the business posted $4.00 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts expect that Cencora will post 17.82 EPS for the current year.

Cencora declared that its Board of Directors has initiated a stock buyback program on Thursday, May 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora’s payout ratio is currently 17.83%.

Insider Activity at Cencora

In other Cencora news, Director Lauren M. Tyler bought 550 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was acquired 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 directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COR. Vanguard Group Inc. grew its holdings in shares of Cencora by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock worth $7,976,681,000 after acquiring an additional 221,570 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Cencora during the second quarter valued at $5,154,136,000. State Street Corp lifted its holdings in shares of Cencora by 1.3% during the fourth quarter. State Street Corp now owns 9,305,507 shares of the company’s stock valued at $3,142,935,000 after purchasing an additional 115,191 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Cencora by 160.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after purchasing an additional 4,123,795 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Cencora by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock valued at $1,843,268,000 after purchasing an additional 169,055 shares during the period. 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.