Cencora, Inc. (NYSE:COR) Stock Has Average Target Price of $370.85

Shares of Cencora, Inc. (NYSE:COR) have received a consensus rating of “Moderate Buy” from the sixteen research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $370.85.

COR has been the topic of several research analyst reports. Citigroup restated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Morgan Stanley lifted their target price on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Robert W. Baird set a $370.00 price target on Cencora in a report on Thursday, August 6th. Evercore restated an “outperform” rating and issued a $350.00 price target on shares of Cencora in a research note on Thursday, August 6th. Finally, Bank of America increased their price objective on shares of Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th.

Cencora Price Performance

Shares of NYSE:COR opened at $309.75 on Thursday. The company has a market capitalization of $59.11 billion, a P/E ratio of 23.01, a P/E/G ratio of 1.59 and a beta of 0.58. Cencora has a 1-year low of $244.82 and a 1-year high of $377.54. The firm’s 50 day simple moving average is $318.13 and its two-hundred day simple moving average is $303.37. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58.

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

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were given a dividend of $0.60 per share. The ex-dividend date was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora’s dividend payout ratio is currently 17.83%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in COR. Polaris Financial Partners purchased a new position in shares of Cencora during the third quarter valued at about $96,000. Versant Capital Management Inc increased its holdings in shares of Cencora by 50.6% in the third quarter. Versant Capital Management Inc now owns 946 shares of the company’s stock worth $284,000 after purchasing an additional 318 shares during the last quarter. Burkett Financial Services LLC purchased a new stake in shares of Cencora in the third quarter worth about $67,000. QRG Capital Management Inc. lifted its position in shares of Cencora by 131.1% in the second quarter. QRG Capital Management Inc. now owns 33,076 shares of the company’s stock worth $9,360,000 after buying an additional 18,762 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Cencora by 174.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,364 shares of the company’s stock valued at $3,216,000 after buying an additional 7,230 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

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.