Cencora, Inc. (NYSE:COR) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Cencora, Inc. (NYSE:COR) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $275.60.

A number of analysts have recently commented on COR shares. Robert W. Baird boosted their price objective on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. UBS Group upped their price target on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Mizuho initiated coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. Bank of America reissued a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Finally, StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares in the company, valued at approximately $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 93,018 shares of company stock valued at $22,478,942. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of COR. New Millennium Group LLC bought a new stake in Cencora in the second quarter worth $26,000. Concord Wealth Partners acquired a new stake in shares of Cencora in the third quarter worth about $30,000. SYSTM Wealth Solutions LLC bought a new stake in shares of Cencora during the 2nd quarter worth about $36,000. Ashton Thomas Securities LLC acquired a new position in shares of Cencora during the 3rd quarter valued at about $41,000. Finally, Family Firm Inc. bought a new position in shares of Cencora in the 2nd quarter valued at approximately $45,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

NYSE COR opened at $226.27 on Friday. Cencora has a 12 month low of $199.75 and a 12 month high of $253.27. The firm has a market capitalization of $43.73 billion, a PE ratio of 30.13, a P/E/G ratio of 1.54 and a beta of 0.45. The company’s 50 day simple moving average is $238.90 and its 200 day simple moving average is $234.11. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.55 per share. This is an increase from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.97%. Cencora’s payout ratio is currently 29.29%.

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.