Cencora (NYSE:COR) Price Target Raised to $301.00

Cencora (NYSE:COR) had its target price upped by JPMorgan Chase & Co. from $289.00 to $301.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company decreased their price target on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Barclays upped their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Mizuho began coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. UBS Group increased their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Evercore ISI boosted 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. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $277.00.

Cencora Price Performance

Shares of COR stock opened at $248.45 on Friday. Cencora has a twelve month low of $214.77 and a twelve month high of $253.27. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The business has a fifty day simple moving average of $237.51 and a 200 day simple moving average of $234.83. The company has a market cap of $48.02 billion, a P/E ratio of 33.08, a P/E/G ratio of 1.54 and a beta of 0.49.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

Insiders Place Their Bets

In related news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. The trade was a 7.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the sale, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. The trade was a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,187 shares of company stock worth $17,790,912. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in COR. Pacer Advisors Inc. raised its position in shares of Cencora by 6,855.3% during the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after purchasing an additional 2,035,679 shares during the period. Wellington Management Group LLP raised its holdings 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 buying an additional 338,452 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Cencora by 40.2% in the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after buying an additional 308,773 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Cencora by 21.7% during the third quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock worth $368,771,000 after acquiring an additional 292,600 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Cencora by 3.8% in 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 during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

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.