Brokerages Set Cencora, Inc. (NYSE:COR) PT at $271.20

Cencora, Inc. (NYSE:COR) has received an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $271.20.

COR has been the subject of a number of recent research reports. Evercore ISI lifted their target price on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. UBS Group lifted their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Leerink Partners decreased their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Barclays lifted their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th.

Cencora Trading Up 0.7 %

NYSE:COR opened at $251.55 on Monday. The firm has a market cap of $49.57 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 1.67 and a beta of 0.44. The stock has a fifty day moving average price of $234.91 and a 200 day moving average price of $232.61. Cencora has a 12-month low of $195.83 and a 12-month high of $253.27. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.55 dividend. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s payout ratio is presently 29.29%.

Insider Activity

In other news, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. The trade was a 13.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 93,018 shares of company stock valued at $22,478,942. Insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp increased its position in Cencora by 3.8% in the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after acquiring an additional 291,867 shares during the period. Wellington Management Group LLP increased its position in Cencora by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after acquiring an additional 338,452 shares during the period. Geode Capital Management LLC increased its position in Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after acquiring an additional 189,054 shares during the period. Boston Partners acquired a new position in Cencora in the 1st quarter valued at about $1,001,269,000. Finally, Pacer Advisors Inc. increased its position in Cencora by 6,855.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after acquiring an additional 2,035,679 shares during the period. 97.52% of the stock is owned by hedge funds and other 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.