Cencora (NYSE:COR) Price Target Raised to $301.00 at JPMorgan Chase & Co.

Cencora (NYSE:COR) had its price objective lifted by JPMorgan Chase & Co. from $289.00 to $301.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

COR has been the topic of a number of other reports. Leerink Partners cut their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Barclays raised their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Evercore ISI boosted their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Mizuho assumed coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Cencora has a consensus rating of “Moderate Buy” and an average price target of $277.00.

Cencora Price Performance

Shares of COR stock opened at $248.45 on Friday. The stock has a 50 day moving average price of $237.51 and a 200 day moving average price of $234.66. Cencora has a 52-week low of $214.77 and a 52-week high of $253.27. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The firm has a market capitalization of $48.02 billion, a P/E ratio of 33.08, a P/E/G ratio of 1.54 and a beta of 0.49.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

Insider Buying and Selling

In other news, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the sale, the chairman now owns 306,752 shares of the company’s stock, valued at $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,187 shares of company stock worth $17,790,912 in the last 90 days. 15.80% of the stock is owned by corporate insiders.

Institutional Trading of Cencora

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Concord Wealth Partners purchased a new stake in shares of Cencora in the third quarter worth about $30,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in Cencora by 85.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Cencora in the third quarter valued at about $41,000. Modus Advisors LLC acquired a new position in Cencora in the fourth quarter valued at approximately $54,000. Finally, Carolina Wealth Advisors LLC grew its holdings in shares of Cencora by 366.7% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock worth $60,000 after purchasing an additional 209 shares during the period. 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.