Cencora (NYSE:COR) Price Target Raised to $292.00

Cencora (NYSE:COR) had its target price raised by Robert W. Baird from $287.00 to $292.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. UBS Group upped their price target on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday. Leerink Partners reduced their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Wells Fargo & Company upped their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Evercore ISI upped their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $271.20.

Cencora Stock Up 0.3 %

Shares of NYSE COR opened at $248.41 on Thursday. The stock has a market cap 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. The firm has a 50 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 quick ratio of 0.55 and a current ratio of 0.88. Cencora has a 52-week low of $191.11 and a 52-week high of $251.00.

Cencora Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date 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 Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the sale, the chairman now directly owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.80% of the stock is currently owned by insiders.

Institutional Trading of Cencora

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in Cencora during the second quarter worth $26,000. TCTC Holdings LLC bought a new position in shares of Cencora in the first quarter valued at about $29,000. TFO Wealth Partners LLC bought a new position in shares of Cencora in the first quarter valued at about $30,000. LRI Investments LLC bought a new position in shares of Cencora in the first quarter valued at about $31,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Cencora in the second quarter valued at about $30,000. 97.52% of the stock is owned by institutional investors.

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.