Robert W. Baird Raises Cencora (NYSE:COR) Price Target to $350.00

Cencora (NYSE:COR) had its price objective hoisted by Robert W. Baird from $314.00 to $350.00 in a report issued on Thursday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

COR has been the topic of a number of other research reports. Bank of America lifted their price target on shares of Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, April 11th. Wells Fargo & Company lifted their target price on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Morgan Stanley set a $288.00 price objective on shares of Cencora in a report on Tuesday, April 15th. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, UBS Group upped their target price on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Cencora presently 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. The firm has a market cap of $54.90 billion, a price-to-earnings ratio of 40.27, a P/E/G ratio of 1.31 and a beta of 0.60. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora has a 1 year low of $214.77 and a 1 year high of $309.35. The business has a fifty day simple moving average of $276.48 and a 200 day simple moving average of $253.44.

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

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders 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 dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, May 16th. Cencora’s dividend payout ratio is 25.52%.

Insider Buying and Selling

In related news, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the sale, the executive vice president now owns 15,374 shares in the company, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 14,578 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total value of $3,928,916.78. Following the transaction, the chairman now owns 317,913 shares in the company, valued at approximately $85,680,732.63. This trade represents a 4.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,223 shares of company stock valued at $13,580,967 over the last ninety days. Insiders own 10.80% of the company’s stock.

Institutional Trading of Cencora

Institutional investors and hedge funds have recently modified their holdings of the stock. Cornerstone Planning Group LLC increased its stake in Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after purchasing an additional 48 shares in the last quarter. JFS Wealth Advisors LLC increased its position in shares of Cencora by 63.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 46 shares in the last quarter. Hoey Investments Inc. acquired a new stake in Cencora during the 1st quarter worth $28,000. Costello Asset Management INC bought a new position in Cencora during the first quarter worth about $28,000. Finally, Banque Transatlantique SA acquired a new position in Cencora in the fourth quarter valued at about $29,000. 97.52% of the stock is owned by 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.