Cencora, Inc. (NYSE:COR) Given Consensus Rating of "Moderate Buy" by Brokerages

Cencora, Inc. (NYSE:COR - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $258.13.

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on Cencora from $236.00 to $249.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Leerink Partners reissued an "outperform" rating and issued a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. Robert W. Baird dropped their price target on Cencora from $287.00 to $283.00 and set an "outperform" rating for the company in a research report on Friday, September 6th. Finally, StockNews.com raised Cencora from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 2nd.

Cencora Price Performance

COR traded down $1.31 during trading on Wednesday, hitting $236.22. The company's stock had a trading volume of 1,352,337 shares, compared to its average volume of 1,370,389. The firm has a market capitalization of $47.11 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 1.54 and a beta of 0.44. The business's fifty day simple moving average is $233.00 and its 200 day simple moving average is $233.22. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. Cencora has a twelve month low of $172.41 and a twelve month high of $247.66.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating analysts' consensus estimates of $3.18 by $0.16. The company had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. Cencora's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.92 EPS. On average, equities research analysts forecast that Cencora will post 13.61 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Friday, August 9th. Cencora's dividend payout ratio is presently 22.32%.

Insider Buying and Selling at Cencora

In other news, EVP Silvana Battaglia sold 1,473 shares of the company's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Steven H. Collis sold 10,755 shares of the company's stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the sale, the chief executive officer now directly owns 285,088 shares of the company's stock, valued at approximately $63,323,746.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The disclosure for this sale can be found here. Insiders sold 4,450,399 shares of company stock valued at $1,070,392,799 over the last 90 days. 15.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cencora

Institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC bought a new stake in Cencora in the 1st quarter valued at about $25,000. New Millennium Group LLC acquired a new position in Cencora during the 2nd quarter worth $26,000. Legacy Bridge LLC bought a new position in shares of Cencora in the first quarter worth $27,000. TCTC Holdings LLC acquired a new position in shares of Cencora during the first quarter valued at $29,000. Finally, TFO Wealth Partners LLC acquired a new stake in Cencora in the first quarter worth about $30,000. 97.52% of the stock is owned by 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.