Cencora (NYSE:COR) Price Target Raised to $373.00

Cencora (NYSE:COR) had its price target lifted by Robert W. Baird from $370.00 to $373.00 in a research report report published on Monday. The firm currently has an outperform rating on the stock.

COR has been the subject of several other research reports. JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Wells Fargo & Company increased their target price on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Morgan Stanley increased their target price on shares of Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. UBS Group raised their price target on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Leerink Partners lifted their price target on shares of Cencora from $380.00 to $388.00 and gave the company an “outperform” rating in a research note on Wednesday, October 7th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.69.

Cencora Trading Up 1.7%

Shares of COR stock opened at $335.85 on Monday. The company has a market cap of $64.09 billion, a P/E ratio of 19.25, a PEG ratio of 1.69 and a beta of 0.58. The stock has a 50 day simple moving average of $319.66 and a two-hundred day simple moving average of $302.88. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora has a fifty-two week low of $244.82 and a fifty-two week high of $377.54.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.00 earnings per share. Research analysts forecast that Cencora will post 17.87 earnings per share for the current year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were issued a $0.60 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio is presently 17.83%.

Insider Transactions at Cencora

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Cencora

A number of institutional investors have recently modified their holdings of COR. BlackRock Inc. purchased a new stake in shares of Cencora in the second quarter worth approximately $5,154,136,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Cencora by 160.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after purchasing an additional 4,123,795 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 purchasing an additional 267,318 shares in the last quarter. Amundi boosted its position in shares of Cencora by 43.5% during the second quarter. Amundi now owns 2,229,326 shares of the company’s stock valued at $630,855,000 after buying an additional 676,066 shares during the last quarter. Finally, Carmignac Gestion boosted its position in shares of Cencora by 58.7% during the second quarter. Carmignac Gestion now owns 1,747,363 shares of the company’s stock valued at $494,463,000 after buying an additional 646,112 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

About Cencora

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.