Barclays Issues Positive Forecast for Cencora (NYSE:COR) Stock Price

Cencora (NYSE:COR) had its price objective increased by Barclays from $263.00 to $290.00 in a research report sent to investors on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

COR has been the subject of several other research reports. Wells Fargo & Company raised their price objective 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. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Leerink Partners cut 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. Robert W. Baird lowered their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. boosted their price target on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $271.20.

Cencora Trading Up 0.2 %

Shares of NYSE COR traded up $0.59 during mid-day trading on Thursday, reaching $248.35. 917,158 shares of the company’s stock were exchanged, compared to its average volume of 1,407,739. Cencora has a 52-week low of $191.11 and a 52-week high of $251.00. The company’s 50-day moving average is $231.77 and its 200-day moving average is $230.76. The firm has a market capitalization of $48.94 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 1.49 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.13. The company had revenue of $79.05 billion for the quarter, compared to analyst estimates of $77.68 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. Analysts expect that Cencora will post 13.64 EPS for the current fiscal year.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.55 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.89%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is presently 29.29%.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 15.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in COR. Lake Street Advisors Group LLC raised its position in shares of Cencora by 1.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after purchasing an additional 43 shares during the period. Financial Advocates Investment Management raised its stake in shares of Cencora by 4.7% in 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. Venturi Wealth Management LLC lifted its position in Cencora by 1.0% in the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after purchasing an additional 46 shares during the period. Prime Capital Investment Advisors LLC boosted its stake in Cencora by 1.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after buying an additional 46 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its position in Cencora by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds 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.