Cencora, Inc. (NYSE:COR) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Cencora, Inc. (NYSE:COR) has received a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $372.07.

Several equities research analysts have issued reports on the stock. Robert W. Baird set a $370.00 price target on shares of Cencora in a research note on Thursday, August 6th. UBS Group boosted their price objective on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Bank of America upped their price objective on shares of Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Evercore restated an “outperform” rating and set a $350.00 target price on shares of Cencora in a research report on Thursday, August 6th. Finally, Barclays lowered their target price on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th.

Insider Activity at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of Cencora stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the sale, the executive vice president owned 19,455 shares of the company’s stock, valued at $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cencora

Large investors have recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC increased its stake in shares of Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after acquiring an additional 81 shares during the last quarter. Bell Investment Advisors Inc purchased a new position in shares of Cencora during the 2nd quarter worth about $28,000. Caitlin John LLC acquired a new stake in shares of Cencora in the second quarter worth approximately $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Cencora in the first quarter worth approximately $35,000. Finally, Western Wealth Management LLC purchased a new stake in Cencora in the first quarter valued at approximately $49,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Performance

NYSE COR opened at $316.68 on Thursday. Cencora has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The stock has a market cap of $60.43 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The business has a fifty day moving average of $318.08 and a 200-day moving average of $302.75. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $4.00 earnings per share. As a group, analysts predict that Cencora will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora’s dividend payout ratio (DPR) is 17.83%.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.