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

by · The Markets Daily

Cencora, Inc. (NYSE:CORGet Free Report) has earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $374.25.

A number of analysts recently commented on the stock. Barclays lowered their price objective 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. Citigroup reiterated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. William Blair assumed coverage on Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating for the company. Finally, Wells Fargo & Company increased their price target on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th.

Check Out Our Latest Stock Report on COR

Cencora Stock Up 0.0%

Shares of NYSE COR opened at $313.86 on Wednesday. The stock has a market cap of $59.89 billion, a P/E ratio of 23.32, a P/E/G ratio of 1.80 and a beta of 0.57. The firm has a 50 day moving average price of $298.98 and a 200 day moving average price of $312.94. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora has a 52-week low of $244.82 and a 52-week high of $377.54.

Cencora (NYSE:CORGet Free Report) last posted its earnings results 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 company had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $4.00 earnings per share. Analysts expect that Cencora will post 17.84 EPS for the current year.

Cencora declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora’s payout ratio is currently 17.83%.

Insider Transactions at Cencora

In related news, Director Lauren M. Tyler bought 550 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the acquisition, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This represents a 14.44% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of COR. Accent Capital Management LLC raised its holdings in shares of Cencora by 36.1% during the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock worth $38,000 after acquiring an additional 30 shares during the period. MCF Advisors LLC grew its holdings in shares of Cencora by 11.0% in the fourth quarter. MCF Advisors LLC now owns 303 shares of the company’s stock valued at $102,000 after purchasing an additional 30 shares during the period. CYBER HORNET ETFs LLC increased its position in Cencora by 6.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock worth $164,000 after purchasing an additional 31 shares during the last quarter. Steph & Co. increased its position in Cencora by 23.5% during the first quarter. Steph & Co. now owns 168 shares of the company’s stock worth $53,000 after purchasing an additional 32 shares during the last quarter. Finally, Beacon Pointe Advisors LLC raised its stake in Cencora by 1.1% during the fourth quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock worth $1,180,000 after purchasing an additional 37 shares during the period. Institutional investors own 97.52% of the company’s stock.

About Cencora

(Get Free Report)

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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