Cencora (NYSE:COR) Given New $285.00 Price Target at UBS Group

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

A number of other brokerages also recently issued reports on COR. 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. Barclays raised their price objective on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday. Leerink Partners lowered their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Stock Performance

Shares of Cencora stock traded up $0.65 during trading on Thursday, reaching $248.41. The company’s stock had a trading volume of 1,376,044 shares, compared to its average volume of 1,409,854. The company has a 50-day moving average price of $231.77 and a two-hundred day moving average price of $230.76. Cencora has a fifty-two week low of $191.11 and a fifty-two week high of $251.00. The firm has a market cap of $48.95 billion, a PE ratio of 32.99, a P/E/G ratio of 1.49 and a beta of 0.44. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, November 6th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.13. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $79.05 billion during the quarter, compared to the consensus estimate of $77.68 billion. On average, analysts forecast that Cencora will post 13.64 EPS for the current 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 given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is 29.29%.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

Several institutional investors and hedge funds have recently modified their holdings of the business. New Millennium Group LLC bought a new position in shares of Cencora in the 2nd quarter valued at approximately $26,000. TCTC Holdings LLC acquired a new position in Cencora during the first quarter valued at approximately $29,000. TFO Wealth Partners LLC acquired a new position in Cencora during the first quarter valued at approximately $30,000. MFA Wealth Advisors LLC bought a new position in shares of Cencora in the second quarter valued at approximately $30,000. Finally, Concord Wealth Partners acquired a new stake in shares of Cencora in the third quarter worth $30,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

About Cencora

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.