Cencora (NYSE:COR) Price Target Raised to $285.00

Cencora (NYSE:COR) had its target price upped by UBS Group from $275.00 to $285.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on COR. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Bank of America restated a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Barclays upped their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI upped their price objective on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Leerink Partners reduced their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

Cencora Stock Up 0.3 %

COR stock opened at $248.41 on Thursday. Cencora has a 1-year low of $191.11 and a 1-year high of $251.00. The business has a fifty day moving average price of $231.95 and a 200-day moving average price of $230.79. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.55. The stock has a market capitalization of $48.95 billion, a P/E ratio of 33.08, a P/E/G ratio of 1.55 and a beta of 0.44.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 27.16%.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the business’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 owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 15.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Cencora

Several hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD bought a new stake in Cencora during the first quarter valued at about $2,183,619,000. JPMorgan Chase & Co. bought a new position in shares of Cencora in the first quarter worth about $1,199,695,000. Boston Partners bought a new position in shares of Cencora in the first quarter worth about $1,001,269,000. Capital Research Global Investors bought a new position in shares of Cencora in the first quarter worth about $650,424,000. Finally, Bessemer Group Inc. bought a new position in shares of Cencora in the first quarter worth about $556,245,000. Institutional investors 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.