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

Cencora, Inc. (NYSE:COR) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $218.22.

COR has been the topic of several research reports. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 1st. Barclays started coverage on shares of Cencora in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $242.00 price target on the stock. Mizuho boosted their price target on shares of Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Leerink Partnrs reissued an “outperform” rating on shares of Cencora in a research report on Monday, February 26th. Finally, SVB Leerink started coverage on shares of Cencora in a research report on Monday, February 26th. They set an “outperform” rating and a $261.00 price target on the stock.

Insider Transactions at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the transaction, the insider now directly owns 26,277,561 shares in the company, valued at approximately $6,186,000,635.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Gina Clark sold 1,100 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $230.48, for a total value of $253,528.00. Following the transaction, the executive vice president now owns 24,802 shares in the company, valued at approximately $5,716,364.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the completion of the transaction, the insider now owns 26,277,561 shares in the company, valued at approximately $6,186,000,635.01. The disclosure for this sale can be found here. Insiders have sold 4,288,790 shares of company stock worth $1,009,641,379 in the last ninety days. Insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in Cencora in the 1st quarter valued at about $25,000. CVA Family Office LLC acquired a new position in shares of Cencora during the 1st quarter worth approximately $34,000. Harbour Investments Inc. grew its position in shares of Cencora by 61.8% during the 1st quarter. Harbour Investments Inc. now owns 165 shares of the company’s stock worth $26,000 after purchasing an additional 63 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Cencora during the 1st quarter worth approximately $43,000. Finally, Park Place Capital Corp acquired a new position in shares of Cencora during the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Trading Down 0.6 %

COR opened at $237.30 on Friday. The stock has a market capitalization of $47.34 billion, a P/E ratio of 25.85, a P/E/G ratio of 1.82 and a beta of 0.45. Cencora has a 12 month low of $163.37 and a 12 month high of $246.75. The firm’s fifty day simple moving average is $237.53 and its 200 day simple moving average is $214.64. The company has a current ratio of 0.88, a quick ratio of 0.52 and a debt-to-equity ratio of 3.94.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $3.28 EPS for the quarter, beating the consensus estimate of $2.86 by $0.42. The business had revenue of $72.25 billion for the quarter, compared to analysts’ expectations of $68.81 billion. Cencora had a net margin of 0.69% and a return on equity of 323.23%. During the same period in the previous year, the firm posted $2.71 EPS. As a group, research analysts anticipate that Cencora will post 13.43 EPS for the current fiscal year.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 9th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, February 8th. This is a positive change from Cencora’s previous quarterly dividend of $0.24. This represents a $2.04 annualized dividend and a dividend yield of 0.86%. Cencora’s payout ratio is currently 22.22%.

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.