Cencora (NYSE:COR) Price Target Raised to $300.00

by · The Cerbat Gem

Cencora (NYSE:COR – Free Report) had its price target boosted by Jefferies Financial Group from $275.00 to $300.00 in a research note released on Monday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other equities research analysts have also weighed in on the company. Morgan Stanley set a $288.00 target price on Cencora in a research report on Tuesday, April 15th. Wells Fargo & Company raised Cencora from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Robert W. Baird raised their target price on Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, Citigroup raised their target price on Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $306.33.

Get Our Latest Stock Analysis on Cencora

Cencora Price Performance

COR stock opened at $291.07 on Monday. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. The firm has a market capitalization of $56.41 billion, a P/E ratio of 33.77, a P/E/G ratio of 1.46 and a beta of 0.57. The business’s 50-day moving average is $290.63 and its two-hundred day moving average is $266.30. Cencora has a 1 year low of $218.65 and a 1 year high of $309.35.

Cencora (NYSE:COR – Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The company had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same quarter last year, the company earned $3.80 EPS. Cencora’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts anticipate that Cencora will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.76%. Cencora’s dividend payout ratio (DPR) is currently 25.52%.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $289.33, for a total value of $1,437,680.77. Following the transaction, the chief executive officer directly owned 47,582 shares in the company, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the transaction, the chairman owned 311,913 shares in the company, valued at $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,127 shares of company stock worth $9,812,296 over the last quarter. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of COR. Oppenheimer & Co. Inc. boosted its stake in shares of Cencora by 1.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 5,949 shares of the company’s stock valued at $1,337,000 after buying an additional 99 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Cencora in the fourth quarter valued at approximately $431,000. Fisher Asset Management LLC boosted its stake in shares of Cencora by 17.7% in the fourth quarter. Fisher Asset Management LLC now owns 1,091 shares of the company’s stock valued at $245,000 after buying an additional 164 shares in the last quarter. Bridges Investment Management Inc. boosted its stake in shares of Cencora by 16.4% in the fourth quarter. Bridges Investment Management Inc. now owns 1,908 shares of the company’s stock valued at $429,000 after buying an additional 269 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Cencora by 39.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,108 shares of the company’s stock valued at $249,000 after buying an additional 314 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

About Cencora

(Get Free Report)

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.

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