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

Cencora, Inc. (NYSE:COR) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $218.22.

A number of analysts have issued reports on the company. Mizuho raised their target price on Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 1st. Barclays started coverage on shares of Cencora in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $242.00 target price on the stock. Leerink Partnrs restated an “outperform” rating on shares of Cencora in a report on Monday, February 26th. Finally, SVB Leerink assumed coverage on Cencora in a report on Monday, February 26th. They issued an “outperform” rating and a $261.00 price objective on the stock.

Cencora Stock Performance

COR opened at $234.00 on Friday. The firm has a market capitalization of $46.68 billion, a PE ratio of 25.49, a PEG ratio of 1.80 and a beta of 0.45. The company has a current ratio of 0.88, a quick ratio of 0.52 and a debt-to-equity ratio of 3.94. Cencora has a twelve month low of $163.37 and a twelve month high of $246.75. The firm’s 50-day moving average price is $237.44 and its 200 day moving average price is $213.19.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, January 31st. The company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.42. Cencora had a return on equity of 323.23% and a net margin of 0.69%. The business had revenue of $72.25 billion for the quarter, compared to analysts’ expectations of $68.81 billion. During the same period in the previous year, the firm posted $2.71 EPS. As a group, sell-side analysts expect that Cencora will post 13.43 EPS for the current fiscal year.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were given a $0.51 dividend. This is a positive change from Cencora’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.04 dividend on an annualized basis and a yield of 0.87%. Cencora’s payout ratio is presently 22.22%.

Insiders Place Their Bets

In related news, EVP Elizabeth S. Campbell sold 6,977 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $238.12, for a total transaction of $1,661,363.24. Following the completion of the transaction, the executive vice president now directly owns 8,246 shares in the company, valued at approximately $1,963,537.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Elizabeth S. Campbell sold 6,977 shares of Cencora stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $238.12, for a total value of $1,661,363.24. Following the completion of the transaction, the executive vice president now owns 8,246 shares in the company, valued at $1,963,537.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the sale, the insider now owns 26,277,561 shares in the company, valued at $6,186,000,635.01. The disclosure for this sale can be found here. Insiders have sold 4,220,472 shares of company stock worth $993,554,798 over the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in shares of Cencora during the first quarter worth about $79,000. Annex Advisory Services LLC acquired a new position in Cencora during the 1st quarter worth approximately $272,000. Gateway Investment Advisers LLC acquired a new position in Cencora during the 1st quarter worth approximately $845,000. Global Assets Advisory LLC purchased a new stake in shares of Cencora in the 1st quarter valued at approximately $9,743,000. Finally, Range Financial Group LLC acquired a new stake in shares of Cencora in the 1st quarter valued at $1,841,000. 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.