Cencora (NYSE:COR) Price Target Raised to $285.00 at Evercore ISI

Cencora (NYSE:COR) had its price target boosted by Evercore ISI from $250.00 to $285.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

COR has been the topic of a number of other reports. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Leerink Partners decreased their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Bank of America reissued a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. JPMorgan Chase & Co. increased their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Robert W. Baird decreased their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday, September 6th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $271.20.

Cencora Price Performance

Cencora stock traded up $0.65 during mid-day trading on Thursday, reaching $248.41. The company had a trading volume of 1,376,044 shares, compared to its average volume of 1,409,854. The stock’s 50-day simple moving average is $231.77 and its 200-day simple moving average is $230.76. The company has a market capitalization of $48.95 billion, a P/E ratio of 32.99, a P/E/G ratio of 1.49 and a beta of 0.44. Cencora has a 1 year low of $191.11 and a 1 year high of $251.00. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.13. The business had revenue of $79.05 billion for the quarter, compared to analyst estimates of $77.68 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. On average, equities analysts predict that Cencora will post 13.64 EPS for the current year.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.55 per share. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.89%. The ex-dividend date is Friday, November 15th. Cencora’s payout ratio is currently 29.29%.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the sale, the chairman now directly owns 285,088 shares in the company, valued at $67,223,750.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 15.80% of the stock is owned by corporate insiders.

Institutional Trading of Cencora

Several hedge funds have recently added to or reduced their stakes in COR. Price T Rowe Associates Inc. MD acquired a new stake in Cencora in the first quarter valued at approximately $2,183,619,000. JPMorgan Chase & Co. bought a new position in shares of Cencora in the first quarter valued at $1,199,695,000. Boston Partners acquired a new position in Cencora during the 1st quarter valued at about $1,001,269,000. Capital Research Global Investors bought a new position in Cencora during the 1st quarter valued at $650,424,000. Finally, Bessemer Group Inc. bought a new stake in Cencora in the 1st quarter worth about $556,245,000. 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.