Cencora (NYSE:COR) Price Target Increased to $277.00 by Analysts at Robert W. Baird

Cencora (NYSE:COR) had its price objective lifted by Robert W. Baird from $275.00 to $277.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently commented on COR. Citigroup increased their price objective on Cencora from $265.00 to $280.00 and gave the stock a buy rating in a research note on Tuesday. StockNews.com raised Cencora from a buy rating to a strong-buy rating in a research report on Thursday, February 1st. SVB Leerink began coverage on shares of Cencora in a report on Monday, February 26th. They set an outperform rating and a $261.00 price objective on the stock. Leerink Partnrs reiterated an outperform rating on shares of Cencora in a report on Monday, February 26th. Finally, Barclays began coverage on shares of Cencora in a research report on Wednesday, January 3rd. They set an overweight rating and a $242.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $233.90.

Cencora Stock Down 0.4 %

NYSE COR traded down $0.79 during mid-day trading on Thursday, hitting $223.95. The company’s stock had a trading volume of 2,222,046 shares, compared to its average volume of 1,292,259. The firm has a market capitalization of $44.67 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.69 and a beta of 0.47. The company’s 50 day simple moving average is $238.31 and its 200 day simple moving average is $218.93. The company has a current ratio of 0.89, a quick ratio of 0.52 and a debt-to-equity ratio of 3.41. Cencora has a twelve month low of $163.37 and a twelve month high of $246.75.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The firm had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period last year, the company earned $3.50 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Analysts anticipate that Cencora will post 13.46 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, May 9th. Cencora’s dividend payout ratio is currently 22.32%.

Insider Activity

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of Cencora stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total value of $991,639,906.95. Following the completion of the sale, the insider now owns 26,277,561 shares of the company’s stock, valued at approximately $6,186,000,635.01. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total value of $991,639,906.95. Following the sale, the insider now owns 26,277,561 shares in the company, valued at $6,186,000,635.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven H. Collis sold 10,754 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $67,702,698.24. The disclosure for this sale can be found here. Insiders have sold 4,288,790 shares of company stock valued at $1,009,641,379 in the last 90 days. Insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

Hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC purchased a new stake in Cencora during the first quarter valued at about $25,000. Legacy Bridge LLC bought a new position in shares of Cencora during the 1st quarter valued at about $27,000. WASHINGTON TRUST Co purchased a new position in shares of Cencora during the 1st quarter valued at about $32,000. Hanson & Doremus Investment Management bought a new stake in Cencora in the 1st quarter worth approximately $33,000. Finally, OFI Invest Asset Management purchased a new stake in Cencora in the first quarter worth approximately $33,000. 97.52% of the stock is owned by institutional investors.

Cencora Company Profile

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.