Cencora (NYSE:COR) Price Target Raised to $340.00

Cencora (NYSE:COR) had its target price upped by Mizuho from $334.00 to $340.00 in a research note published on Thursday, MarketBeat reports. They currently have an outperform rating on the stock.

COR has been the subject of several other research reports. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Evercore ISI set a $340.00 price target on shares of Cencora in a research note on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Weiss Ratings restated a “buy (b)” rating on shares of Cencora in a research note on Wednesday, October 8th. Finally, UBS Group upped their price target on shares of Cencora from $350.00 to $380.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $329.55.

Cencora Trading Down 1.1%

NYSE COR opened at $337.60 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The firm has a market cap of $65.45 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 1.56 and a beta of 0.63. The company has a 50 day moving average price of $308.09 and a 200 day moving average price of $297.11. Cencora has a 52 week low of $223.92 and a 52 week high of $350.46.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.34 EPS. As a group, sell-side analysts forecast that Cencora will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s dividend payout ratio is presently 22.63%.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the sale, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the completion of the sale, the chief executive officer owned 37,940 shares in the company, valued at $12,398,792. The trade was a 11.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,544 shares of company stock worth $12,230,941 in the last quarter. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Cencora

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COR. Norges Bank acquired a new stake in Cencora during the second quarter valued at $695,215,000. Mizuho Markets Americas LLC grew its position in Cencora by 116.4% during the third quarter. Mizuho Markets Americas LLC now owns 212,800 shares of the company’s stock valued at $66,506,000 after buying an additional 1,511,906 shares during the period. Artisan Partners Limited Partnership acquired a new stake in Cencora during the second quarter valued at $411,888,000. Invesco Ltd. grew its position in Cencora by 42.1% during the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after buying an additional 1,364,433 shares during the period. Finally, Vanguard Group Inc. grew its position in Cencora by 5.3% during the second quarter. Vanguard Group Inc. now owns 22,479,041 shares of the company’s stock valued at $6,740,340,000 after buying an additional 1,125,661 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

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.