Cencora, Inc. (NYSE:COR) Given Average Rating of “Moderate Buy” by Analysts

Shares of Cencora, Inc. (NYSE:COR) have received an average rating of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $271.20.

Several equities research analysts have weighed in on COR shares. JPMorgan Chase & Co. lifted their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. UBS Group upped their price target on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI increased their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Robert W. Baird increased their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the sale, the chairman now owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

A number of large investors have recently bought and sold shares of the company. New Millennium Group LLC purchased a new position in shares of Cencora in the second quarter worth about $26,000. MFA Wealth Advisors LLC purchased a new position in Cencora in the 2nd quarter valued at approximately $30,000. Concord Wealth Partners bought a new stake in Cencora during the 3rd quarter valued at $30,000. LRI Investments LLC purchased a new stake in shares of Cencora during the first quarter worth $31,000. Finally, SYSTM Wealth Solutions LLC bought a new position in shares of Cencora in the second quarter worth $36,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

Shares of Cencora stock opened at $245.02 on Monday. The company has a market cap of $48.28 billion, a P/E ratio of 32.63, a PEG ratio of 1.63 and a beta of 0.44. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The business has a 50-day moving average price of $233.22 and a two-hundred day moving average price of $231.65. Cencora has a 1-year low of $195.83 and a 1-year high of $251.56.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.55 per share. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Cencora Company Profile

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.