Wells Fargo & Company Issues Positive Forecast for Cencora (NYSE:COR) Stock Price

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

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

Cencora Price Performance

Shares of NYSE COR opened at $258.09 on Friday. Cencora has a twelve month low of $214.77 and a twelve month high of $263.70. The stock’s 50 day moving average price is $247.59 and its 200-day moving average price is $239.09. The company has a market capitalization of $50.05 billion, a PE ratio of 36.71, a PEG ratio of 1.31 and a beta of 0.51. 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 posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, equities analysts anticipate that Cencora will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

Insider Buying and Selling at Cencora

In other Cencora news, CAO Lazarus Krikorian sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 20,154 shares in the company, valued at $5,241,249.24. The trade was a 9.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Silvana Battaglia sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 15,374 shares of the company’s stock, 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. Insiders sold a total of 13,648 shares of company stock worth $3,382,462 over the last three months. Insiders own 10.80% of the company’s stock.

Institutional Trading of Cencora

Institutional investors have recently modified their holdings of the stock. JFS Wealth Advisors LLC lifted its position in shares of Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after buying an additional 46 shares during the last quarter. Banque Transatlantique SA purchased a new stake in Cencora in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new stake in Cencora in the 4th quarter valued at $30,000. Kentucky Trust Co purchased a new position in Cencora during the 4th quarter worth $33,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its position in Cencora by 85.2% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after buying an additional 69 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.