Cencora, Inc. (NYSE:COR) Receives $275.60 Average PT from Brokerages

Cencora, Inc. (NYSE:COR) has received an average rating of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $275.60.

A number of research analysts have issued reports on COR shares. Mizuho assumed coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. Evercore ISI increased their price target on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Leerink Partners reduced their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company reduced their target price on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the sale, the chairman now directly owns 306,752 shares in the company, valued at approximately $74,283,064.32. This trade represents a 6.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 93,018 shares of company stock worth $22,478,942 in the last three months. Insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

A number of institutional investors have recently made changes to their positions in the stock. Lake Street Advisors Group LLC boosted its holdings in Cencora by 1.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after purchasing an additional 43 shares during the last quarter. Financial Advocates Investment Management increased its position in Cencora by 4.7% during the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after acquiring an additional 44 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Cencora by 1.0% in the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after acquiring an additional 46 shares during the period. Prime Capital Investment Advisors LLC boosted its position in Cencora by 1.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after purchasing an additional 46 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its stake in shares of Cencora by 2.2% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Up 0.6 %

COR opened at $227.69 on Friday. The firm has a market capitalization of $44.01 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 1.54 and a beta of 0.45. Cencora has a one year low of $199.82 and a one year high of $253.27. The business has a 50 day simple moving average of $239.00 and a two-hundred day simple moving average of $234.13. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, November 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.97%. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is 29.29%.

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.