Cencora’s (COR) Outperform Rating Reiterated at SVB Leerink

SVB Leerink reiterated their outperform rating on shares of Cencora (NYSE:COR) in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a $275.00 target price on the stock.

COR has been the subject of a number of other research reports. Citigroup boosted their price target on Cencora from $265.00 to $280.00 and gave the company a buy rating in a report on Tuesday, April 30th. Robert W. Baird increased their price target on Cencora from $275.00 to $277.00 and gave the stock an outperform rating in a research report on Thursday, May 2nd. Finally, StockNews.com lowered Cencora from a strong-buy rating to a buy rating in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $235.30.

Cencora Price Performance

COR opened at $225.30 on Thursday. The business has a fifty day moving average of $229.12 and a 200 day moving average of $227.99. The stock has a market cap of $44.94 billion, a P/E ratio of 24.65, a PEG ratio of 1.58 and a beta of 0.48. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. Cencora has a 52-week low of $171.65 and a 52-week high of $246.75.

Cencora (NYSE:COR) last posted its quarterly earnings results 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 firm had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the business posted $3.50 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Cencora will post 13.44 EPS for the current year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Thursday, May 9th. Cencora’s payout ratio is 22.32%.

Insider Transactions at Cencora

In other Cencora 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 sale, the chief executive officer now directly owns 285,088 shares in the company, valued at $67,702,698.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Steven H. Collis sold 10,754 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 285,088 shares in the company, valued at $67,702,698.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Insiders have sold a total of 1,956,675 shares of company stock valued at $422,352,056 in the last 90 days. Insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

Hedge funds have recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in Cencora during the 1st quarter valued at about $25,000. Legacy Bridge LLC purchased a new stake in Cencora in the first quarter valued at approximately $27,000. TCTC Holdings LLC acquired a new position in Cencora in the 1st quarter worth approximately $29,000. TFO Wealth Partners LLC purchased a new position in Cencora during the 1st quarter worth approximately $30,000. Finally, LRI Investments LLC acquired a new stake in Cencora during the 1st quarter valued at approximately $31,000. 97.52% of the stock is owned by institutional investors and hedge funds.

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.