JPMorgan Chase & Co. Increases Cencora (NYSE:COR) Price Target to $301.00

Cencora (NYSE:COR) had its price objective increased by JPMorgan Chase & Co. from $289.00 to $301.00 in a research note published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on the stock. Evercore ISI lifted their target price on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company cut their price objective on Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. Robert W. Baird raised their target price on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. UBS Group boosted their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $277.00.

Cencora Stock Performance

Shares of COR stock opened at $248.45 on Friday. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The firm has a 50-day moving average of $237.51 and a 200-day moving average of $234.83. Cencora has a one year low of $214.77 and a one year high of $253.27. The company has a market cap of $48.02 billion, a P/E ratio of 33.08, a P/E/G ratio of 1.54 and a beta of 0.49.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is 29.29%.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the sale, the chairman now directly owns 306,752 shares in the company, valued at $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now owns 20,329 shares of the company’s stock, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,187 shares of company stock valued at $17,790,912. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

A number of hedge funds and other institutional investors have recently bought and sold shares of COR. Concord Wealth Partners purchased a new position in shares of Cencora during the 3rd quarter valued at $30,000. Householder Group Estate & Retirement Specialist LLC grew its position in Cencora by 85.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Cencora in the 3rd quarter worth about $41,000. Modus Advisors LLC purchased a new stake in shares of Cencora in the 4th quarter valued at about $54,000. Finally, Carolina Wealth Advisors LLC boosted its position in shares of Cencora by 366.7% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $60,000 after acquiring an additional 209 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

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.