Cencora (NYSE:COR) Reaches New 12-Month High on Analyst Upgrade

Cencora, Inc. (NYSE:COR)’s share price reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $289.00 to $301.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Cencora traded as high as $254.49 and last traded at $253.21, with a volume of 257351 shares. The stock had previously closed at $248.48.

Several other equities research analysts have also recently weighed in on COR. Leerink Partners reduced their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Barclays raised their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird raised their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company reduced their price objective on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.00.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 326,557 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 73,187 shares of company stock valued at $17,790,912 over the last three months. 15.80% of the stock is owned by insiders.

Institutional Trading of Cencora

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Cencora by 3.8% in the third 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. Wellington Management Group LLP lifted its holdings in shares of Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after purchasing an additional 338,452 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cencora by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after acquiring an additional 189,054 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Cencora by 6.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock valued at $495,249,000 after purchasing an additional 138,868 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in Cencora by 21.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after acquiring an additional 292,600 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Trading Up 2.5 %

The firm has a market cap of $49.22 billion, a P/E ratio of 33.91, a P/E/G ratio of 1.54 and a beta of 0.49. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The business’s 50-day moving average is $237.51 and its two-hundred day moving average is $234.83.

Cencora Increases Dividend

The business also recently announced 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 represents a $2.20 dividend on an annualized basis and a dividend yield of 0.86%. This is an increase from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s dividend payout ratio is presently 29.29%.

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.