Cencora (NYSE:COR) Reaches New 1-Year High After Analyst Upgrade

Cencora, Inc. (NYSE:CORGet Free Report)’s share price reached a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from $289.00 to $301.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Cencora traded as high as $254.49 and last traded at $253.21, with a volume of 257351 shares changing hands. The stock had previously closed at $248.48.

A number of other analysts have also commented on COR. Evercore ISI lifted their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group boosted their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Leerink Partners decreased their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Robert W. Baird boosted their target price on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Barclays increased their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $277.00.

Get Our Latest Analysis on COR

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the transaction, the chairman now owns 306,752 shares in the company, valued at approximately $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction on Friday, December 20th. The stock was 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 directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,187 shares of company stock valued at $17,790,912. 15.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cencora

Several hedge funds have recently made changes to their positions in COR. WCM Investment Management LLC increased its position in shares of Cencora by 99.1% during the fourth quarter. WCM Investment Management LLC now owns 2,116 shares of the company’s stock valued at $476,000 after buying an additional 1,053 shares during the period. Apollon Wealth Management LLC boosted its position in Cencora by 14.1% during the 4th quarter. Apollon Wealth Management LLC now owns 5,353 shares of the company’s stock valued at $1,203,000 after acquiring an additional 660 shares in the last quarter. Shepherd Financial Partners LLC grew its holdings in shares of Cencora by 0.9% during the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock worth $1,223,000 after acquiring an additional 46 shares during the period. Generate Investment Management Ltd raised its position in shares of Cencora by 92.4% in the 4th quarter. Generate Investment Management Ltd now owns 46,508 shares of the company’s stock worth $10,449,000 after acquiring an additional 22,330 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Cencora by 4.4% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 28,575 shares of the company’s stock valued at $6,420,000 after purchasing an additional 1,200 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Up 0.2 %

The company has a market capitalization of $49.36 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. The company has a 50-day moving average of $238.03 and a two-hundred day moving average of $235.30. The company has a quick ratio of 0.53, a current ratio of 0.88 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. Stockholders of record on Friday, November 15th were given a $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s payout ratio is currently 29.29%.

About Cencora

(Get Free Report)

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.

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