Cencora (NYSE:COR) Price Target Raised to $251.00

Cencora (NYSE:COR) had its target price increased by Wells Fargo & Company from $237.00 to $251.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts have also recently commented on the company. UBS Group raised their target price on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Mizuho began coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price for the company. Evercore ISI lifted their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Leerink Partners reduced their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.40.

Cencora Stock Down 1.7 %

Shares of COR stock opened at $254.11 on Wednesday. The company has a 50 day simple moving average of $238.74 and a two-hundred day simple moving average of $235.83. The stock has a market cap of $49.11 billion, a P/E ratio of 33.84, a P/E/G ratio of 1.61 and a beta of 0.49. Cencora has a 12 month low of $214.77 and a 12 month high of $261.25. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.87%. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is presently 29.29%.

Insider Activity

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the sale, the chairman now owns 326,557 shares in the company, valued at approximately $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,187 shares of company stock worth $17,790,912 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in COR. Lake Street Advisors Group LLC lifted its stake in shares of Cencora by 1.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after purchasing an additional 43 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Cencora by 1.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after buying an additional 46 shares during the period. Prime Capital Investment Advisors LLC lifted 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 buying an additional 46 shares during the last quarter. Shepherd Financial Partners LLC boosted its stake in Cencora by 0.9% during the fourth quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock worth $1,223,000 after buying an additional 46 shares during the period. Finally, WASHINGTON TRUST Co increased its position in Cencora by 37.7% during the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after acquiring an additional 46 shares during the last quarter. 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.