Cencora (NYSE:COR) Price Target Lowered to $250.00 at Evercore ISI

Cencora (NYSE:COR - Free Report) had its target price lowered by Evercore ISI from $270.00 to $250.00 in a report published on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other analysts also recently issued reports on the company. StockNews.com downgraded Cencora from a strong-buy rating to a buy rating in a research report on Friday, September 20th. Leerink Partners dropped their price objective on shares of Cencora from $277.00 to $275.00 and set an outperform rating for the company in a research report on Monday. Robert W. Baird decreased their price target on Cencora from $287.00 to $283.00 and set an outperform rating for the company in a report on Friday, September 6th. Bank of America restated a neutral rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company upped their price target 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 research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Cencora has an average rating of Moderate Buy and a consensus price target of $259.44.

Cencora Stock Performance

Shares of NYSE:COR traded up $1.30 during midday trading on Tuesday, hitting $220.80. The stock had a trading volume of 1,598,843 shares, compared to its average volume of 1,416,660. Cencora has a 1 year low of $182.62 and a 1 year high of $247.66. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The stock has a 50 day moving average price of $234.25 and a two-hundred day moving average price of $231.76. The company has a market capitalization of $44.04 billion, a PE ratio of 24.16, a P/E/G ratio of 1.58 and a beta of 0.44.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the prior year, the business posted $2.92 EPS. The company's revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts predict that Cencora will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.92%. Cencora's payout ratio is 22.32%.

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now directly owns 19,980,000 shares of the company's stock, valued at approximately $4,806,388,800. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $2,656,970.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 over the last three months. Company insiders own 15.80% of the company's stock.

Institutional Trading of Cencora

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new stake in Cencora in the fourth quarter valued at approximately $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new stake in Cencora in the 1st quarter worth approximately $2,183,619,000. JPMorgan Chase & Co. purchased a new position in Cencora during the first quarter worth about $1,199,695,000. Boston Partners purchased a new position in shares of Cencora during the first quarter worth about $1,001,269,000. Finally, Capital Research Global Investors bought a new position in shares of Cencora in the 1st quarter worth $650,424,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

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.