Cencora (NYSE:COR) Price Target Raised to $375.00

Cencora (NYSE:COR) had its price target lifted by Robert W. Baird from $373.00 to $375.00 in a research report released on Thursday, Marketbeat reports. The firm currently has an outperform rating on the stock.

A number of other research firms have also recently commented on COR. Citigroup reiterated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. UBS Group dropped their target price on Cencora from $430.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Morgan Stanley boosted their price target on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings upgraded Cencora from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 6th. Finally, Leerink Partners upped their price target on shares of Cencora from $380.00 to $388.00 and gave the company an “outperform” rating in a research report on Wednesday, October 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $366.44.

Cencora Trading Down 2.3%

Shares of COR stock opened at $330.77 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. Cencora has a 12-month low of $244.82 and a 12-month high of $377.54. The stock has a market capitalization of $63.12 billion, a P/E ratio of 24.57, a P/E/G ratio of 1.70 and a beta of 0.58. The firm’s 50 day moving average is $322.35 and its 200 day moving average is $304.06.

Cencora (NYSE:COR) last announced 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 business had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.00 EPS. Research analysts expect that Cencora will post 17.87 earnings per share for the current 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 given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s payout ratio is presently 17.83%.

Insider Activity at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of the firm’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 transaction, the executive vice president directly owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by company insiders.

Institutional Trading of Cencora

Several hedge funds have recently bought and sold shares of COR. Elevation Wealth Partners LLC raised its stake in shares of Cencora by 506.2% in the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after buying an additional 81 shares during the period. Bell Investment Advisors Inc bought a new position in shares of Cencora during the 2nd quarter valued at approximately $28,000. Caitlin John LLC bought a new position in shares of Cencora during the 2nd quarter valued at approximately $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in Cencora in the 1st quarter worth approximately $35,000. Finally, Downshift Financial LLC raised its stake in Cencora by 3,250.0% during the 3rd quarter. Downshift Financial LLC now owns 134 shares of the company’s stock worth $40,000 after acquiring an additional 130 shares during the period. Institutional investors own 97.52% of the company’s stock.

Cencora Company Profile

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.