Leerink Partners Trims Cencora (NYSE:COR) Target Price to $275.00

Cencora (NYSE:COR) had its target price trimmed by Leerink Partners from $277.00 to $275.00 in a report published on Monday, Benzinga reports. They currently have an outperform rating on the stock.

COR has been the subject of a number of other research reports. StockNews.com cut Cencora from a strong-buy rating to a buy rating in a research report on Friday, September 20th. JPMorgan Chase & Co. lifted their price target on Cencora from $280.00 to $287.00 and gave the company an overweight rating in a report on Wednesday, August 21st. Robert W. Baird dropped their price objective on Cencora from $287.00 to $283.00 and set an outperform rating on the stock in a report on Friday, September 6th. Wells Fargo & Company lifted their target price on shares of Cencora from $236.00 to $249.00 and gave the company an equal weight rating in a research note on Thursday, August 1st. Finally, Bank of America restated a neutral rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $259.44.

Cencora Trading Up 0.2 %

NYSE:COR opened at $221.19 on Monday. The stock has a market cap of $44.12 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 1.58 and a beta of 0.44. Cencora has a fifty-two week low of $182.75 and a fifty-two week high of $247.66. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The stock’s 50-day moving average is $233.91 and its two-hundred day moving average is $231.68.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the previous year, the firm posted $2.92 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts forecast that Cencora will post 13.63 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio is 22.32%.

Insider Buying and Selling at Cencora

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the transaction, the insider now owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,450,399 shares of company stock worth $1,070,392,799 over the last ninety days. Company insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

Several institutional investors and hedge funds have recently bought and sold shares of COR. Financial Advocates Investment Management boosted its holdings in Cencora by 4.7% during the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after purchasing an additional 44 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of Cencora by 2.2% during the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after acquiring an additional 48 shares during the period. Valeo Financial Advisors LLC boosted its stake in shares of Cencora by 3.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $353,000 after purchasing an additional 51 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Cencora by 4.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,147 shares of the company’s stock worth $258,000 after purchasing an additional 52 shares during the last quarter. Finally, Barlow Wealth Partners Inc. increased its position in shares of Cencora by 5.4% during the 2nd quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock worth $303,000 after purchasing an additional 68 shares in 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.