Cencora (NYSE:COR) Price Target Lowered to $250.00 at Evercore ISI

Cencora (NYSE:COR) had its price target decreased by Evercore ISI from $270.00 to $250.00 in a research note released on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on COR. JPMorgan Chase & Co. upped their price objective on Cencora from $280.00 to $287.00 and gave the stock an overweight rating in a research report on Wednesday, August 21st. Bank of America reaffirmed a neutral rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. StockNews.com downgraded shares of Cencora from a strong-buy rating to a buy rating in a report on Friday, September 20th. Leerink Partners reduced their target price on shares of Cencora from $277.00 to $275.00 and set an outperform rating for the company in a report on Monday. Finally, Robert W. Baird lowered their price target on shares of Cencora from $287.00 to $283.00 and set an outperform rating on the stock in a research note on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $259.44.

Cencora Price Performance

NYSE COR opened at $220.80 on Tuesday. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The stock has a market cap of $44.04 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 1.58 and a beta of 0.44. The business has a 50 day simple moving average of $234.25 and a 200 day simple moving average of $231.76. Cencora has a 52-week low of $182.62 and a 52-week high of $247.66.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.92 earnings per share. Analysts anticipate that Cencora will post 13.63 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.92%. Cencora’s dividend payout ratio is presently 22.32%.

Insider Activity at Cencora

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares in the company, valued at approximately $63,323,746.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,450,399 shares of company stock worth $1,070,392,799. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

A number of institutional investors have recently made changes to their positions in the company. Financial Advocates Investment Management boosted its holdings in shares of Cencora by 4.7% during the 2nd quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after acquiring an additional 44 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Cencora by 2.2% during the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after purchasing an additional 48 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Cencora by 3.4% during the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock worth $353,000 after purchasing an additional 51 shares during the last quarter. Evergreen Capital Management LLC increased its stake in shares of Cencora by 4.7% in the second quarter. Evergreen Capital Management LLC now owns 1,147 shares of the company’s stock valued at $258,000 after buying an additional 52 shares during the period. Finally, Barlow Wealth Partners Inc. raised its holdings in Cencora by 5.4% in the 2nd quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock valued at $303,000 after buying an additional 68 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

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.