Cencora (NYSE:COR) Price Target Raised to $355.00

Cencora (NYSE:COR) had its target price raised by Citigroup from $330.00 to $355.00 in a report published on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other brokerages have also recently commented on COR. StockNews.com upgraded shares of 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 shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company upped their price target on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Bank of America upped their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Finally, UBS Group lifted their price objective on Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $301.18.

Cencora Price Performance

Shares of NYSE COR opened at $283.12 on Thursday. Cencora has a twelve month low of $214.77 and a twelve month high of $309.35. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm has a market capitalization of $54.90 billion, a P/E ratio of 40.27, a P/E/G ratio of 1.31 and a beta of 0.60. The stock’s 50-day simple moving average is $276.48 and its two-hundred day simple moving average is $253.44.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping analysts’ consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The firm had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same quarter in the prior year, the firm earned $3.80 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Cencora will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Friday, May 16th. Cencora’s dividend payout ratio (DPR) is 25.52%.

Insider Transactions at Cencora

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $268.28, for a total value of $1,107,191.56. Following the sale, the executive vice president now owns 14,665 shares in the company, valued at approximately $3,934,326.20. This trade represents a 21.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now directly owns 15,374 shares in the company, valued at $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,223 shares of company stock worth $13,580,967. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. increased its holdings in Cencora by 20.4% during the third quarter. Franklin Resources Inc. now owns 207,131 shares of the company’s stock valued at $46,564,000 after buying an additional 35,024 shares during the last quarter. Principal Financial Group Inc. lifted its position in Cencora by 6.9% during the third quarter. Principal Financial Group Inc. now owns 306,726 shares of the company’s stock valued at $69,038,000 after purchasing an additional 19,831 shares in the last quarter. CWA Asset Management Group LLC grew its holdings in Cencora by 23.6% during the fourth quarter. CWA Asset Management Group LLC now owns 1,562 shares of the company’s stock valued at $351,000 after purchasing an additional 298 shares during the period. First Hawaiian Bank increased its position in Cencora by 7.0% in the fourth quarter. First Hawaiian Bank now owns 10,654 shares of the company’s stock worth $2,394,000 after buying an additional 701 shares in the last quarter. Finally, ORG Partners LLC lifted its position in shares of Cencora by 17.4% during the 4th quarter. ORG Partners LLC now owns 426 shares of the company’s stock valued at $96,000 after buying an additional 63 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

About Cencora

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.