Cencora (NYSE:COR) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Cencora (NYSE:COR) from a hold rating to a buy rating in a report released on Saturday morning.

Other equities analysts also recently issued reports about the company. Bank of America boosted their price objective on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Robert W. Baird set a $370.00 target price on shares of Cencora in a report on Thursday. Morgan Stanley lifted their price target on shares of Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research note on Friday. UBS Group boosted their price target on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday. Finally, William Blair began coverage on shares of Cencora in a research report on Tuesday, April 28th. They issued a “market perform” rating on the stock. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $368.92.

Cencora Trading Down 1.3%

NYSE:COR opened at $320.62 on Friday. The firm has a market cap of $62.38 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.84 and a beta of 0.57. The stock has a fifty day moving average price of $293.89 and a 200 day moving average price of $314.42. Cencora has a 12-month low of $244.82 and a 12-month high of $377.54. The company has a current ratio of 0.93, a quick ratio of 0.59 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping 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 company had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. During the same quarter in the prior year, the business earned $4.00 EPS. Cencora’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that Cencora will post 17.83 earnings per share for the current fiscal year.

Cencora declared that its board has approved a share repurchase plan on Thursday, May 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s dividend payout ratio is presently 17.83%.

Insider Buying and Selling at Cencora

In other Cencora news, Director Lauren M. Tyler bought 550 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the purchase, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Cencora

Several hedge funds have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. acquired a new position in shares of Cencora in the 4th quarter valued at $25,000. Oakworth Capital Inc. purchased a new position in shares of Cencora in the 4th quarter valued at $26,000. Elyxium Wealth LLC acquired a new stake in Cencora during the 4th quarter worth $27,000. Elevation Wealth Partners LLC raised its stake in Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after acquiring an additional 81 shares in the last quarter. Finally, Archer Investment Corp lifted its position in Cencora by 134.3% in the fourth quarter. Archer Investment Corp now owns 82 shares of the company’s stock valued at $28,000 after acquiring an additional 47 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.