Cencora, Inc. (NYSE:COR) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Cencora, Inc. (NYSE:COR) has earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $370.85.

COR has been the subject of a number of recent research reports. Citigroup reissued a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Evercore reaffirmed an “outperform” rating and set a $350.00 target price on shares of Cencora in a report on Thursday, August 6th. Barclays cut their price target on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Wells Fargo & Company increased their price target on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley raised their price objective on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th.

Insider Activity at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares of the company’s stock, valued at $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Cencora

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Cencora in the 2nd quarter valued at approximately $5,154,136,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Cencora by 160.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after acquiring an additional 4,123,795 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Cencora by 6.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock valued at $1,682,859,000 after acquiring an additional 304,760 shares during the last quarter. Bank of America Corp DE increased its stake in Cencora by 6.9% in the first quarter. Bank of America Corp DE now owns 4,138,388 shares of the company’s stock valued at $1,300,033,000 after acquiring an additional 267,318 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Cencora by 3.3% during the fourth quarter. Capital Research Global Investors now owns 2,749,577 shares of the company’s stock valued at $928,670,000 after purchasing an additional 88,544 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Up 1.9%

COR opened at $314.84 on Thursday. Cencora has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The company has a market capitalization of $60.08 billion, a P/E ratio of 23.39, a P/E/G ratio of 1.59 and a beta of 0.58. The stock has a fifty day moving average of $318.20 and a 200-day moving average of $302.93.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. During the same quarter in the previous year, the business posted $4.00 earnings per share. Cencora’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts expect that Cencora will post 17.87 EPS for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 14th. Cencora’s dividend payout ratio is 17.83%.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.