Brokerages Set Cencora, Inc. (NYSE:COR) PT at $235.30

Cencora, Inc. (NYSE:COR) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $235.30.

COR has been the topic of a number of research reports. Citigroup increased their price objective on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. SVB Leerink reaffirmed an “outperform” rating and set a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Finally, Robert W. Baird upped their target price on Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd.

Insider Buying and Selling

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gina Clark sold 27,093 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $216.07, for a total value of $5,853,984.51. Following the transaction, the executive vice president now owns 15,158 shares of the company’s stock, valued at $3,275,189.06. The disclosure for this sale can be found here. Insiders sold a total of 1,956,675 shares of company stock valued at $422,352,056 over the last ninety days. 15.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

Cencora Price Performance

Shares of COR opened at $222.50 on Friday. The company has a market capitalization of $44.38 billion, a price-to-earnings ratio of 24.34, a P/E/G ratio of 1.55 and a beta of 0.45. Cencora has a fifty-two week low of $171.65 and a fifty-two week high of $246.75. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.53. The business’s 50-day moving average is $227.90 and its 200-day moving average is $228.39.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. The company had revenue of $68.41 billion for the quarter, compared to the consensus estimate of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.50 EPS. Equities research analysts expect that Cencora will post 13.44 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a $0.51 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.04 annualized dividend and a yield of 0.92%. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

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.