Analysts Set Cencora, Inc. (NYSE:COR) Target Price at $301.18

Cencora, Inc. (NYSE:COR) has received an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $301.18.

Several research firms have recently issued reports on COR. UBS Group raised their price target on Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Bank of America boosted their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, April 11th. Citigroup lifted their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Finally, Morgan Stanley set a $288.00 price objective on Cencora in a research note on Tuesday, April 15th.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth S. Campbell sold 4,127 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $268.28, for a total value of $1,107,191.56. Following the sale, the executive vice president now directly owns 14,665 shares of the company’s stock, valued at approximately $3,934,326.20. This represents a 21.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This represents a 24.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,223 shares of company stock worth $13,580,967. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

Large investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in shares of Cencora by 8.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,240 shares of the company’s stock worth $1,735,000 after purchasing an additional 506 shares in the last quarter. Blue Rock Wealth Management LLC acquired a new stake in shares of Cencora in the 1st quarter valued at approximately $1,669,000. Belpointe Asset Management LLC grew its holdings in shares of Cencora by 131.5% during the 1st quarter. Belpointe Asset Management LLC now owns 9,252 shares of the company’s stock valued at $2,573,000 after purchasing an additional 5,255 shares during the last quarter. Focus Partners Wealth increased its position in Cencora by 25.8% during the 1st quarter. Focus Partners Wealth now owns 5,715 shares of the company’s stock worth $1,589,000 after purchasing an additional 1,171 shares in the last quarter. Finally, Integrity Alliance LLC. increased its position in Cencora by 54.3% during the 1st quarter. Integrity Alliance LLC. now owns 9,053 shares of the company’s stock worth $2,518,000 after purchasing an additional 3,186 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Cencora stock opened at $291.43 on Monday. Cencora has a 52 week low of $214.77 and a 52 week high of $309.35. The firm has a market cap of $56.49 billion, a P/E ratio of 41.46, a P/E/G ratio of 1.31 and a beta of 0.60. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The business’s fifty day moving average is $281.28 and its two-hundred day moving average is $256.26.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating analysts’ consensus estimates of $4.07 by $0.35. The firm had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $3.80 EPS. Equities research analysts forecast that Cencora will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 16th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. Cencora’s dividend payout ratio is currently 25.52%.

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.