Cencora, Inc. (NYSE:COR) Stock Now Rated “Moderate Buy” by Wall Street Analysts

by · The Markets Daily

Cencora, Inc. (NYSE:COR – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $370.85.

COR has been the subject of a number of recent research reports. Citigroup reissued a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Evercore reaffirmed an “outperform” rating and set a $350.00 target price on shares of Cencora in a report on Thursday, August 6th. Barclays cut their price target on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Wells Fargo & Company increased their price target on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley raised their price objective on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th.

Check Out Our Latest Research Report on Cencora

Insider Activity at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of the business’s stock in a transaction dated 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 of the company’s stock, 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

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Cencora in the 2nd quarter valued at approximately $5,154,136,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Cencora by 160.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after acquiring an additional 4,123,795 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Cencora by 6.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock valued at $1,682,859,000 after acquiring an additional 304,760 shares during the last quarter. Bank of America Corp DE increased its stake in Cencora by 6.9% in the first quarter. Bank of America Corp DE now owns 4,138,388 shares of the company’s stock valued at $1,300,033,000 after acquiring an additional 267,318 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Cencora by 3.3% during the fourth quarter. Capital Research Global Investors now owns 2,749,577 shares of the company’s stock valued at $928,670,000 after purchasing an additional 88,544 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Up 1.9%

COR opened at $314.84 on Thursday. Cencora has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The company has a market capitalization of $60.08 billion, a P/E ratio of 23.39, a P/E/G ratio of 1.59 and a beta of 0.58. The stock has a fifty day moving average of $318.20 and a 200-day moving average of $302.93.

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

Cencora Dividend Announcement

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

Cencora Company Profile

(Get Free Report)

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.

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