Cencora (NYSE:COR) Receives Outperform Rating from SVB Leerink

SVB Leerink restated their outperform rating on shares of Cencora (NYSE:COR) in a research note released on Thursday morning, Benzinga reports. SVB Leerink currently has a $275.00 price target on the stock.

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

Cencora Price Performance

Shares of COR opened at $227.89 on Thursday. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89. The firm has a market cap of $45.45 billion, a PE ratio of 24.93, a PEG ratio of 1.66 and a beta of 0.48. The firm’s 50 day moving average price is $229.40 and its 200 day moving average price is $227.67. Cencora has a twelve month low of $171.65 and a twelve month high of $246.75.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. The business had revenue of $68.41 billion for the quarter, compared to the consensus estimate of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. Cencora’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.50 EPS. As a group, research analysts expect that Cencora will post 13.44 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $0.51 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.04 annualized dividend and a yield of 0.90%. Cencora’s dividend payout ratio is 22.32%.

Insiders Place Their Bets

In other news, Director Dermot Mark Durcan acquired 500 shares of the stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the transaction, the director now owns 21,876 shares in the company, valued at approximately $4,781,656.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cencora news, Director Dermot Mark Durcan bought 500 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $218.58 per share, for a total transaction of $109,290.00. Following the transaction, the director now owns 21,876 shares in the company, valued at $4,781,656.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gina Clark sold 1,874 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $223.86, for a total transaction of $419,513.64. Following the completion of the transaction, the executive vice president now directly owns 13,284 shares of the company’s stock, valued at approximately $2,973,756.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,956,675 shares of company stock worth $422,352,056. 15.80% of the stock is currently owned by company insiders.

Institutional Trading of Cencora

Large investors have recently bought and sold shares of the stock. Cape Investment Advisory Inc. acquired a new stake in shares of Cencora in the 1st quarter valued at $1,137,000. HM Payson & Co. acquired a new position in Cencora in the first quarter valued at about $708,000. Jackson Wealth Management LLC bought a new stake in Cencora during the first quarter worth about $6,740,000. American Trust bought a new stake in Cencora during the first quarter worth about $396,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of Cencora during the first quarter worth approximately $325,000. 97.52% of the stock is currently owned by institutional investors.

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.