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

Shares of Cencora, Inc. (NYSE:COR) have received an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Two 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 analysts that have issued ratings on the stock in the last year is $275.60.

A number of equities analysts recently commented on the company. Barclays raised their target price on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. UBS Group raised their price objective on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company cut their target price on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. Robert W. Baird raised their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Mizuho assumed coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the sale, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This represents a 7.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the transaction, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,696 shares of company stock valued at $22,862,734. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

Hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after acquiring an additional 291,867 shares in the last quarter. Wellington Management Group LLP boosted its position in Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after purchasing an additional 338,452 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cencora by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after purchasing an additional 189,054 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Cencora by 6,855.3% in the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after buying an additional 2,035,679 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Cencora by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock worth $422,538,000 after buying an additional 67,287 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Down 0.0 %

NYSE:COR opened at $236.10 on Tuesday. Cencora has a 52 week low of $214.77 and a 52 week high of $253.27. The stock’s fifty day moving average is $237.82 and its two-hundred day moving average is $233.54. The stock has a market capitalization of $45.63 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.55 per share. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s dividend payout ratio is currently 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.