Cencora (NYSE:COR) Price Target Raised to $413.00

Cencora (NYSE:COR) had its price objective raised by JPMorgan Chase & Co. from $390.00 to $413.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also commented on COR. Leerink Partners lifted their price target on shares of Cencora from $388.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Robert W. Baird boosted their price objective on shares of Cencora from $373.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, October 22nd. UBS Group dropped their price objective on shares of Cencora from $430.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday, October 16th. Weiss Ratings raised shares of Cencora from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 6th. Finally, Citigroup reissued a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $368.14.

Cencora Stock Performance

Shares of COR opened at $349.32 on Tuesday. The business’s fifty day moving average price is $326.68 and its 200 day moving average price is $317.19. Cencora has a 12-month low of $244.82 and a 12-month high of $377.54. The stock has a market capitalization of $66.66 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.81 and a beta of 0.58. The company has a debt-to-equity ratio of 3.01, a current ratio of 0.94 and a quick ratio of 0.59.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, November 4th. The company reported $4.66 EPS for the quarter, topping analysts’ consensus estimates of $4.58 by $0.08. The firm had revenue of $88.35 billion during the quarter, compared to the consensus estimate of $87.95 billion. Cencora had a net margin of 1.03% and a return on equity of 110.72%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.84 earnings per share. Equities research analysts forecast that Cencora will post 19.58 EPS for the current year.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be given a $0.66 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Cencora’s dividend payout ratio is 13.39%.

Insider Transactions at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.

Institutional Trading of Cencora

A number of large investors have recently modified their holdings of COR. Mayflower Financial Advisors LLC boosted its stake in Cencora by 1.1% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 2,829 shares of the company’s stock valued at $849,000 after purchasing an additional 32 shares during the period. Alteri Wealth LLC increased its stake in shares of Cencora by 2.2% in the third quarter. Alteri Wealth LLC now owns 1,575 shares of the company’s stock valued at $473,000 after purchasing an additional 34 shares during the period. William Blair Investment Management LLC increased its stake in shares of Cencora by 1.3% in the third quarter. William Blair Investment Management LLC now owns 2,810 shares of the company’s stock valued at $844,000 after purchasing an additional 35 shares during the period. Pinnacle Associates Ltd. increased its stake in shares of Cencora by 1.8% in the third quarter. Pinnacle Associates Ltd. now owns 2,203 shares of the company’s stock valued at $662,000 after purchasing an additional 38 shares during the period. Finally, Elmwood Wealth Management Inc. raised its holdings in shares of Cencora by 0.9% during the second quarter. Elmwood Wealth Management Inc. now owns 4,314 shares of the company’s stock valued at $1,221,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical services company that connects pharmaceutical manufacturers with healthcare providers. Its core business includes sourcing and distributing medicines and other healthcare products to pharmacies, hospitals, health systems and other care providers. The company also provides services supporting specialty pharmaceuticals, including logistics, consulting and solutions for manufacturers and healthcare organizations. These services help manage the handling and delivery of complex medicines and support access to treatments.