Shares of Cencora, Inc. (NYSE:COR – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $324.9091.
A number of equities analysts have recently issued reports on the company. Mizuho raised their price target on Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley set a $330.00 price target on Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Jefferies Financial Group raised their price target on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research note on Monday, June 30th. Wells Fargo & Company raised their price target on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Finally, Evercore ISI set a $340.00 price target on Cencora in a research note on Wednesday, October 8th.
Check Out Our Latest Report on COR
Cencora Stock Performance
Cencora (NYSE:COR – Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. During the same period last year, the business posted $3.34 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. Research analysts anticipate that Cencora will post 15.37 earnings per share for the current fiscal year.
Cencora Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.7%. Cencora’s payout ratio is 22.63%.
Insider Buying and Selling at Cencora
In related news, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the transaction, the chief executive officer directly owned 39,274 shares in the company, valued at approximately $11,389,460. The trade was a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,025 shares of company stock worth $14,831,784 over the last quarter. 10.80% of the stock is owned by company insiders.
Hedge Funds Weigh In On Cencora
Institutional investors and hedge funds have recently bought and sold shares of the stock. Atlantic Edge Private Wealth Management LLC lifted its position in Cencora by 70.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after acquiring an additional 48 shares during the period. Costello Asset Management INC bought a new stake in Cencora during the first quarter valued at about $28,000. Vermillion & White Wealth Management Group LLC raised its holdings in Cencora by 69.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 105 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the period. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Cencora during the first quarter valued at about $39,000. 97.52% of the stock is currently 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.
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