Cencora (NYSE:COR) Price Target Raised to $388.00

by · The Markets Daily

Cencora (NYSE:COR – Free Report) had its target price raised by Leerink Partners from $380.00 to $388.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also recently weighed in on COR. Barclays reduced their price target on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. UBS Group raised their price objective on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Morgan Stanley boosted their target price on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Evercore reissued an “outperform” rating and issued a $350.00 target price on shares of Cencora in a research report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $372.07.

Check Out Our Latest Research Report on Cencora

Cencora Stock Up 0.7%

COR stock opened at $323.59 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. Cencora has a twelve month low of $244.82 and a twelve month high of $377.54. The company’s 50 day moving average is $318.47 and its two-hundred day moving average is $302.85. The stock has a market cap of $61.75 billion, a P/E ratio of 24.04, a PEG ratio of 1.65 and a beta of 0.58.

Cencora (NYSE:COR – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.00 EPS. Research analysts expect that Cencora will post 17.87 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were given a $0.60 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

Insider Buying and Selling

In other news, EVP Elizabeth Campbell sold 11,300 shares of Cencora stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the sale, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Cencora

Several hedge funds have recently bought and sold shares of COR. BlackRock Inc. acquired a new stake in shares of Cencora during the second quarter worth $5,154,136,000. T. Rowe Price Investment Management Inc. increased its stake in Cencora by 160.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after purchasing an additional 4,123,795 shares during the last quarter. Bank of America Corp DE increased its stake in Cencora by 6.9% in the first quarter. Bank of America Corp DE now owns 4,138,388 shares of the company’s stock valued at $1,300,033,000 after purchasing an additional 267,318 shares during the last quarter. Amundi lifted its position in Cencora by 43.5% during the second quarter. Amundi now owns 2,229,326 shares of the company’s stock worth $630,855,000 after buying an additional 676,066 shares during the period. Finally, Carmignac Gestion lifted its position in Cencora by 58.7% during the second quarter. Carmignac Gestion now owns 1,747,363 shares of the company’s stock worth $494,463,000 after buying an additional 646,112 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Company Profile

(Get Free Report)

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.

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