Cencora, Inc. (NYSE:COR) Given Average Recommendation of “Moderate Buy” by Brokerages

Cencora, Inc. (NYSE:COR) has received an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $271.20.

COR has been the topic of several recent analyst reports. Robert W. Baird boosted their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Evercore ISI boosted their target price on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays boosted their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st.

Cencora Stock Performance

NYSE COR opened at $251.55 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The business’s 50 day moving average is $234.91 and its two-hundred day moving average is $232.61. Cencora has a 12-month low of $195.83 and a 12-month high of $253.27. The stock has a market capitalization of $49.57 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 1.67 and a beta of 0.44.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.55 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.87%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is presently 29.29%.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the transaction, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This represents a 13.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have sold 93,018 shares of company stock valued at $22,478,942. 15.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. New Millennium Group LLC purchased a new position in shares of Cencora during the 2nd quarter worth $26,000. LRI Investments LLC purchased a new position in shares of Cencora during the 1st quarter worth $31,000. MFA Wealth Advisors LLC acquired a new stake in shares of Cencora during the 2nd quarter worth $30,000. Concord Wealth Partners acquired a new stake in shares of Cencora during the 3rd quarter worth $30,000. Finally, SYSTM Wealth Solutions LLC acquired a new stake in shares of Cencora during the 2nd quarter worth $36,000. Hedge funds and other 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.