Cencora, Inc. (NYSE:COR) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Cencora, Inc. (NYSE:COR - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $284.55.

A number of brokerages have weighed in on COR. StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Evercore ISI increased their target price on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Wells Fargo & Company increased their price objective on shares of Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Morgan Stanley set a $288.00 target price on shares of Cencora in a research note on Tuesday, April 15th. Finally, Bank of America boosted their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the transaction, the chairman now directly owns 315,913 shares of the company's stock, valued at $89,027,442.53. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lazarus Krikorian sold 2,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the sale, the chief accounting officer now directly owns 20,154 shares of the company's stock, valued at $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,223 shares of company stock valued at $13,580,967 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cencora

Institutional investors have recently bought and sold shares of the stock. Hoey Investments Inc. acquired a new position in Cencora in the 1st quarter worth approximately $28,000. JFS Wealth Advisors LLC raised its position in Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock valued at $27,000 after buying an additional 46 shares during the period. Banque Transatlantique SA purchased a new stake in Cencora in the 4th quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Cencora in the fourth quarter worth approximately $30,000. Finally, Kentucky Trust Co acquired a new position in Cencora in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Stock Performance

Shares of COR stock traded up $3.66 during trading hours on Thursday, hitting $286.05. The stock had a trading volume of 1,815,757 shares, compared to its average volume of 1,522,859. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The firm has a market capitalization of $55.47 billion, a PE ratio of 40.69, a PEG ratio of 1.31 and a beta of 0.55. Cencora has a twelve month low of $214.77 and a twelve month high of $296.65. The stock's 50 day moving average is $268.09 and its 200 day moving average is $249.35.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, research analysts forecast that Cencora will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Friday, February 14th. Cencora's dividend payout ratio is currently 31.29%.

Cencora Company Profile

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.