Cencora (NYSE:COR) Price Target Raised to $277.00

Cencora (NYSE:COR) had its target price increased by Robert W. Baird from $275.00 to $277.00 in a report released on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Mizuho lifted their price target on shares of Cencora from $192.00 to $224.00 and gave the stock a neutral rating in a report on Monday, February 5th. StockNews.com upgraded shares of Cencora from a buy rating to a strong-buy rating in a report on Thursday, February 1st. Barclays assumed coverage on shares of Cencora in a report on Wednesday, January 3rd. They set an overweight rating and a $242.00 price target for the company. Citigroup lifted their price target on shares of Cencora from $265.00 to $280.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Finally, Leerink Partnrs restated an outperform rating on shares of Cencora in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Cencora currently has a consensus rating of Moderate Buy and an average target price of $233.90.

Cencora Stock Down 0.4 %

Shares of NYSE COR opened at $223.95 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. Cencora has a 52 week low of $163.37 and a 52 week high of $246.75. The firm has a 50-day moving average price of $238.31 and a 200 day moving average price of $219.36. The stock has a market capitalization of $44.67 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 1.68 and a beta of 0.47.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The firm had revenue of $68.41 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period last year, the firm posted $3.50 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Cencora will post 13.44 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. Cencora’s dividend payout ratio (DPR) is 22.32%.

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of Cencora stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the transaction, the insider now directly owns 26,277,561 shares of the company’s stock, valued at $6,186,000,635.01. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Elizabeth S. Campbell sold 6,977 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $238.12, for a total transaction of $1,661,363.24. Following the transaction, the executive vice president now directly owns 8,246 shares of the company’s stock, valued at $1,963,537.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business’s stock in a transaction 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 transaction, the insider now directly 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 a total of 4,288,790 shares of company stock valued at $1,009,641,379 over the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of Cencora during the first quarter worth $25,000. Legacy Bridge LLC acquired a new position in shares of Cencora during the first quarter worth $27,000. WASHINGTON TRUST Co acquired a new position in shares of Cencora during the first quarter worth $32,000. Concord Wealth Partners acquired a new position in shares of Cencora during the first quarter worth $33,000. Finally, Hanson & Doremus Investment Management acquired a new stake in Cencora in the first quarter valued at $33,000. 97.52% of the stock is owned by institutional investors and hedge funds.

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.