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

Shares of Cencora, Inc. (NYSE:COR) have been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $238.78.

Several research analysts have recently issued reports on COR shares. SVB Leerink reaffirmed an “outperform” rating and set a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Robert W. Baird raised their price objective on shares of Cencora from $280.00 to $285.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Finally, Citigroup upped their target price on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th.

Insider Buying and Selling at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the sale, the insider now owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the transaction, the insider now owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Steven H. Collis sold 10,755 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at $63,323,746.56. The disclosure for this sale can be found here. In the last three months, insiders sold 1,899,112 shares of company stock worth $408,654,376. Insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Sivik Global Healthcare LLC purchased a new stake in Cencora during the second quarter valued at about $5,858,000. Tobam grew its holdings in shares of Cencora by 2.0% during the 2nd quarter. Tobam now owns 13,481 shares of the company’s stock worth $3,037,000 after purchasing an additional 263 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cencora by 5.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,056 shares of the company’s stock worth $19,839,000 after purchasing an additional 4,224 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in Cencora by 29.8% in the second quarter. Arkadios Wealth Advisors now owns 2,145 shares of the company’s stock valued at $483,000 after buying an additional 492 shares during the period. Finally, Burney Co. lifted its position in Cencora by 0.3% during the second quarter. Burney Co. now owns 119,610 shares of the company’s stock valued at $26,948,000 after buying an additional 391 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Trading Down 0.2 %

Shares of Cencora stock opened at $227.18 on Tuesday. The company has a 50-day moving average of $227.08 and a two-hundred day moving average of $230.76. Cencora has a 12-month low of $171.65 and a 12-month high of $246.75. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. The stock has a market cap of $45.31 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 1.58 and a beta of 0.45.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. The business had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.50 EPS. On average, research analysts anticipate that Cencora will post 13.46 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.90%. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

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.