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

Cencora (NYSE:COR) had its price target hoisted by Evercore ISI from $250.00 to $285.00 in a research note published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

COR has been the subject of a number of other research reports. Leerink Partners cut their price objective 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. Bank of America reissued a “neutral” rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. JPMorgan Chase & Co. raised their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird lowered their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Finally, Wells Fargo & Company lifted their price objective on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Stock Up 0.3 %

COR opened at $248.41 on Thursday. Cencora has a fifty-two week low of $191.11 and a fifty-two week high of $251.00. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.55 and a current ratio of 0.88. The company has a fifty day moving average of $231.95 and a two-hundred day moving average of $230.79. The stock has a market capitalization of $48.95 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 1.55 and a beta of 0.44.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is 27.16%.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s 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 transaction, 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 SEC, which is available through this hyperlink. Corporate insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Trustmark National Bank Trust Department raised its position in shares of Cencora by 4.8% during the 3rd quarter. Trustmark National Bank Trust Department now owns 5,690 shares of the company’s stock valued at $1,281,000 after buying an additional 262 shares during the period. Intech Investment Management LLC raised its position in shares of Cencora by 12.5% during the 3rd quarter. Intech Investment Management LLC now owns 73,012 shares of the company’s stock valued at $16,434,000 after buying an additional 8,091 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Cencora by 4.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 357,299 shares of the company’s stock valued at $80,421,000 after buying an additional 14,050 shares during the period. Moran Wealth Management LLC raised its position in shares of Cencora by 4.0% during the 3rd quarter. Moran Wealth Management LLC now owns 76,490 shares of the company’s stock valued at $17,216,000 after buying an additional 2,976 shares during the period. Finally, Portfolio Design Labs LLC purchased a new stake in shares of Cencora during the 3rd quarter valued at approximately $1,404,000. 97.52% of the stock is owned by hedge funds and other 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.