Analysts Set Cencora, Inc. (NYSE:COR) Price Target at $271.20

Shares of Cencora, Inc. (NYSE:COR) have received a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $271.20.

COR has been the subject of several analyst reports. Wells Fargo & Company raised their target price on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Leerink Partners decreased their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. UBS Group boosted their price objective on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI raised their target price on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the transaction, the chairman now directly owns 306,752 shares in the company, valued at approximately $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 93,018 shares of company stock valued at $22,478,942. Insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

A number of institutional investors have recently bought and sold shares of COR. BOKF NA bought a new stake in shares of Cencora in the first quarter valued at approximately $260,000. SVB Wealth LLC acquired a new stake in shares of Cencora during the 1st quarter worth $598,000. Ascent Group LLC bought a new position in shares of Cencora in the first quarter worth $471,000. Silvercrest Asset Management Group LLC acquired a new position in Cencora in the first quarter valued at about $7,976,000. Finally, Kennedy Capital Management LLC acquired a new position in Cencora in the first quarter valued at about $705,000. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

Shares of NYSE COR opened at $249.70 on Monday. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The stock has a 50 day moving average price of $233.56 and a 200 day moving average price of $232.01. The stock has a market capitalization of $49.20 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 1.63 and a beta of 0.44. Cencora has a 52 week low of $195.83 and a 52 week high of $251.56.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.55 dividend. This is an increase from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, November 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.88%. 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.