Leerink Partners Trims Cencora (NYSE:COR) Target Price to $275.00

Cencora (NYSE:COR - Free Report) had its price target reduced by Leerink Partners from $277.00 to $275.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently commented on COR. StockNews.com cut shares of Cencora from a strong-buy rating to a buy rating in a report on Friday, September 20th. Bank of America restated a neutral rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $280.00 to $287.00 and gave the company an overweight rating in a report on Wednesday, August 21st. Robert W. Baird dropped their target price on shares of Cencora from $287.00 to $283.00 and set an outperform rating on the stock in a report on Friday, September 6th. Finally, Wells Fargo & Company boosted their target price on shares of Cencora from $236.00 to $249.00 and gave the company an equal weight rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Cencora currently has a consensus rating of Moderate Buy and an average target price of $256.67.

Cencora Trading Down 0.2 %

Shares of NYSE COR traded down $0.44 during mid-day trading on Monday, hitting $219.50. The stock had a trading volume of 1,414,564 shares, compared to its average volume of 1,415,762. The firm has a market cap of $43.78 billion, a P/E ratio of 24.04, a price-to-earnings-growth ratio of 1.58 and a beta of 0.44. The business has a 50 day moving average price of $234.60 and a two-hundred day moving average price of $232.07. Cencora has a 1 year low of $182.62 and a 1 year high of $247.66. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.16. The business had revenue of $74.20 billion for the quarter, compared to analysts' expectations of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.92 earnings per share. On average, equities analysts anticipate that Cencora will post 13.63 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Friday, August 9th. Cencora's dividend payout ratio (DPR) is 22.32%.

Insiders Place Their Bets

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the business's stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares of the company's stock, valued at approximately $63,323,746.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares of the company's stock, valued at $4,806,388,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven H. Collis sold 10,755 shares of the company's stock in a transaction dated Tuesday, July 16th. The shares were 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 $63,323,746.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Cencora

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fulton Bank N.A. grew its stake in shares of Cencora by 6.1% during the 3rd quarter. Fulton Bank N.A. now owns 5,096 shares of the company's stock valued at $1,147,000 after acquiring an additional 294 shares during the period. Azzad Asset Management Inc. ADV bought a new position in shares of Cencora during the 3rd quarter valued at approximately $1,824,000. GAMMA Investing LLC grew its stake in shares of Cencora by 22.6% during the 3rd quarter. GAMMA Investing LLC now owns 3,385 shares of the company's stock valued at $762,000 after acquiring an additional 623 shares during the period. Czech National Bank grew its stake in shares of Cencora by 12.6% during the 3rd quarter. Czech National Bank now owns 35,536 shares of the company's stock valued at $7,998,000 after acquiring an additional 3,990 shares during the period. Finally, Wright Investors Service Inc. bought a new position in shares of Cencora during the 3rd quarter valued at approximately $480,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

About Cencora

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.