Cencora, Inc. (NYSE:COR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cencora, Inc. (NYSE:COR) has been given an average rating of “Moderate Buy” by the ten brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $284.55.

Several equities analysts have weighed in on COR shares. JPMorgan Chase & Co. lifted their price objective on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company lifted their price objective on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Morgan Stanley set a $288.00 price objective on Cencora in a report on Tuesday, April 15th. Finally, Evercore ISI boosted their price target on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total value of $4,108,507.99. Following the completion of the transaction, the chairman now owns 315,913 shares of the company’s stock, valued at $89,027,442.53. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the sale, the executive vice president now owns 15,374 shares in the company, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,223 shares of company stock valued at $13,580,967 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Cencora

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Cencora during the 4th quarter worth approximately $478,309,000. Bank of America Corp DE raised its holdings in Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock worth $1,166,944,000 after purchasing an additional 1,994,256 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in Cencora during the 4th quarter worth approximately $399,508,000. GAMMA Investing LLC raised its holdings in Cencora by 43,561.9% during the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company’s stock worth $444,516,000 after purchasing an additional 1,594,800 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Cencora during the 4th quarter worth approximately $322,460,000. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Performance

COR opened at $287.75 on Thursday. The business has a fifty day simple moving average of $268.94 and a 200 day simple moving average of $250.00. The company has a market capitalization of $55.80 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 1.31 and a beta of 0.55. Cencora has a 1 year low of $214.77 and a 1 year high of $296.65. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Research analysts expect that Cencora will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.76%. Cencora’s payout ratio is presently 31.29%.

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.