Cencora, Inc. (NYSE:COR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Cencora, Inc. (NYSE:COR) has received an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $233.90.

A number of research firms have weighed in on COR. Citigroup raised their price target on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Leerink Partnrs restated an “outperform” rating on shares of Cencora in a research note on Monday, February 26th. Mizuho increased their price target on shares of Cencora from $192.00 to $224.00 and gave the company a “neutral” rating in a report on Monday, February 5th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Finally, SVB Leerink started coverage on shares of Cencora in a research report on Monday, February 26th. They set an “outperform” rating and a $261.00 target price on the stock.

Cencora Trading Down 1.2 %

NYSE:COR opened at $224.04 on Thursday. Cencora has a fifty-two week low of $163.37 and a fifty-two week high of $246.75. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.53. The stock has a market capitalization of $44.69 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 1.61 and a beta of 0.47. The business’s 50-day simple moving average is $237.58 and its 200-day simple moving average is $219.90.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The business had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the firm posted $3.50 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts expect that Cencora will post 13.44 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.91%. Cencora’s payout ratio is currently 22.32%.

Insider Activity at Cencora

In related news, CEO Steven H. Collis sold 10,754 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the transaction, the chief executive officer now owns 285,088 shares in the company, valued at approximately $67,702,698.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO Robert P. Mauch sold 57,564 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $235.09, for a total value of $13,532,720.76. Following the completion of the transaction, the chief operating officer now owns 24,412 shares in the company, valued at approximately $5,739,017.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Steven H. Collis sold 10,754 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The disclosure for this sale can be found here. Insiders sold a total of 76,395 shares of company stock worth $18,001,472 in the last quarter. 15.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in shares of Cencora during the 1st quarter worth approximately $25,000. Legacy Bridge LLC acquired a new stake in shares of Cencora during the 1st quarter worth approximately $27,000. WASHINGTON TRUST Co acquired a new stake in shares of Cencora during the 1st quarter worth approximately $32,000. Concord Wealth Partners acquired a new stake in shares of Cencora during the 1st quarter worth approximately $33,000. Finally, Hanson & Doremus Investment Management acquired a new stake in shares of Cencora during the 1st quarter worth approximately $33,000. 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.