Cencora (NYSE:COR) Price Target Raised to $380.00

Cencora (NYSE:COR) had its price target boosted by Argus from $340.00 to $380.00 in a report published on Tuesday, MarketBeat reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the stock. UBS Group decreased their price target on shares of Cencora from $430.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, October 16th. Citigroup reissued a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. Robert W. Baird upped their price objective on shares of Cencora from $370.00 to $373.00 and gave the stock an “outperform” rating in a report on Monday, October 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $330.00 target price on shares of Cencora in a research note on Tuesday, September 8th. Finally, Evercore reiterated an “outperform” rating and set a $350.00 target price (up from $330.00) on shares of Cencora in a report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $366.44.

Cencora Price Performance

COR opened at $338.59 on Tuesday. The stock has a fifty day simple moving average of $322.02 and a two-hundred day simple moving average of $303.87. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. The company has a market cap of $64.61 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 1.74 and a beta of 0.58. Cencora has a 12-month low of $244.82 and a 12-month high of $377.54.

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

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 14th. Cencora’s dividend payout ratio (DPR) is currently 17.83%.

Insider Activity 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 stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Cencora

Several large investors have recently bought and sold shares of COR. Capital Investment Advisors LLC lifted its stake in Cencora by 6.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 2,275 shares of the company’s stock valued at $683,000 after acquiring an additional 133 shares during the period. Wedbush Securities Inc. boosted its holdings in shares of Cencora by 2.9% during the 3rd quarter. Wedbush Securities Inc. now owns 5,101 shares of the company’s stock valued at $1,531,000 after acquiring an additional 144 shares during the last quarter. Isthmus Partners LLC boosted its holdings in shares of Cencora by 0.6% during the 3rd quarter. Isthmus Partners LLC now owns 44,067 shares of the company’s stock valued at $13,231,000 after acquiring an additional 244 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Cencora during the 3rd quarter valued at about $156,000. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Cencora by 1.5% in the third quarter. Crossmark Global Holdings Inc. now owns 18,904 shares of the company’s stock worth $5,676,000 after acquiring an additional 285 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Key Headlines Impacting Cencora

Here are the key news stories impacting Cencora this week:

• Positive Sentiment: Analysts raised their targets. Robert W. Baird increased its price target to $375 from $373 and maintained an “outperform” rating, implying meaningful upside. Argus also raised its target to $380 from $340, citing expectations for strong appreciation. Baird Adjusts Price Target on Cencora Argus Raises Target for Cencora
• Positive Sentiment: Cencora is expanding in community oncology. The company agreed to acquire American Oncology Network in a deal valued at approximately $2.4 billion. The transaction would add about 350 providers and strengthen Cencora’s support, distribution and services platform for community-based oncology practices. Cencora to Acquire American Oncology Network
• Neutral Sentiment: The acquisition creates near-term execution considerations. Cencora is purchasing the remaining ownership stake in American Oncology Network, making integration, transaction funding and the ability to generate expected strategic benefits important factors for investors to monitor. Cencora Agreement to Acquire American Oncology Network Stake
• Neutral Sentiment: A shareholder investigation was announced involving American Oncology Network. The investigation concerns AONC and does not allege wrongdoing by Cencora, but it could add scrutiny around the transaction and its terms. Brodsky and Smith Shareholder Update

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.