Cencora (NYSE:COR) Price Target Raised to $274.00

Cencora (NYSE:COR - Free Report) had its target price lifted by Wells Fargo & Company from $251.00 to $274.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other analysts also recently commented on the company. StockNews.com upgraded Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Mizuho initiated coverage on shares of Cencora in a research note on Wednesday, December 4th. They set an "outperform" rating and a $280.00 price target for the company. Evercore ISI lifted their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cencora has an average rating of "Moderate Buy" and an average target price of $280.20.

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Cencora Trading Up 1.2 %

COR traded up $3.06 during midday trading on Friday, reaching $264.02. 1,745,536 shares of the company were exchanged, compared to its average volume of 1,353,205. The stock's 50-day simple moving average is $248.23 and its 200 day simple moving average is $239.31. Cencora has a one year low of $214.77 and a one year high of $265.36. The stock has a market capitalization of $51.20 billion, a P/E ratio of 37.56, a PEG ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92.

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

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, February 14th. Cencora's payout ratio is 31.29%.

Insider Transactions at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lazarus Krikorian sold 2,000 shares of Cencora stock in a transaction on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the sale, the chief accounting officer now directly owns 20,154 shares of the company's stock, valued at approximately $5,241,249.24. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,648 shares of company stock worth $3,382,462. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in COR. Price T Rowe Associates Inc. MD grew its holdings in shares of Cencora by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock worth $1,990,542,000 after buying an additional 78,066 shares during the last quarter. State Street Corp increased its stake in shares of Cencora by 3.8% in the third quarter. State Street Corp now owns 8,045,896 shares of the company's stock valued at $1,810,970,000 after purchasing an additional 291,867 shares during the period. Bank of America Corp DE increased its stake in shares of Cencora by 62.3% during the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after acquiring an additional 1,994,256 shares during the period. Wellington Management Group LLP grew its position in Cencora by 7.0% in the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company's stock worth $1,168,927,000 after buying an additional 338,452 shares during the last quarter. Finally, Boston Partners boosted its stake in Cencora by 2.6% in the 4th quarter. Boston Partners now owns 5,007,100 shares of the company's stock worth $1,128,058,000 after purchasing an additional 125,611 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

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.