Cencora (NYSE:COR) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Cencora (NYSE:COR) had its target price upped by Wells Fargo & Company from $251.00 to $274.00 in a research report report published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also commented on COR. Evercore ISI upped their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Mizuho assumed coverage on shares of Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. boosted their price target on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $280.20.

Cencora Price Performance

COR stock opened at $258.09 on Friday. The stock has a market capitalization of $50.05 billion, a price-to-earnings ratio of 36.71, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The stock’s fifty day simple moving average is $247.59 and its 200-day simple moving average is $239.15. Cencora has a 52-week low of $214.77 and a 52-week high of $263.70. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Equities research analysts expect that Cencora will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, February 14th. Cencora’s payout ratio is 31.29%.

Insider Activity

In related news, CAO Lazarus Krikorian sold 2,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the sale, the chief accounting officer now directly owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. This trade represents a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction on Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the sale, the executive vice president now directly owns 15,374 shares in the company, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,648 shares of company stock worth $3,382,462. 10.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of COR. Swedbank AB boosted its stake in shares of Cencora by 2.3% during the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock valued at $313,863,000 after buying an additional 31,104 shares during the last quarter. United Bank raised its holdings in Cencora by 4.2% in the third quarter. United Bank now owns 5,601 shares of the company’s stock valued at $1,261,000 after acquiring an additional 225 shares in the last quarter. Assetmark Inc. boosted its stake in Cencora by 33.8% during the 3rd quarter. Assetmark Inc. now owns 2,536 shares of the company’s stock valued at $571,000 after acquiring an additional 641 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Cencora during the 3rd quarter worth $1,137,000. Finally, Prime Capital Investment Advisors LLC increased its position in shares of Cencora by 1.2% in the 3rd 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. Hedge funds and other institutional investors 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.