Robert W. Baird Raises Cencora (NYSE:COR) Price Target to $277.00

Cencora (NYSE:COR) had its target price upped by Robert W. Baird from $275.00 to $277.00 in a research report released on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other equities research analysts have also issued reports on the company. Barclays started coverage on Cencora in a research note on Wednesday, January 3rd. They issued an overweight rating and a $242.00 target price on the stock. StockNews.com upgraded Cencora from a buy rating to a strong-buy rating in a research report on Thursday, February 1st. Citigroup upped their target price on shares of Cencora from $265.00 to $280.00 and gave the company a buy rating in a report on Tuesday, April 30th. SVB Leerink initiated coverage on shares of Cencora in a research note on Monday, February 26th. They set an outperform rating and a $261.00 price target on the stock. Finally, Leerink Partnrs reissued an outperform rating on shares of Cencora in a research report on Monday, February 26th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Cencora presently has an average rating of Moderate Buy and an average price target of $233.90.

Cencora Price Performance

Cencora stock traded down $0.79 during trading hours on Thursday, hitting $223.95. The stock had a trading volume of 2,222,046 shares, compared to its average volume of 1,292,259. Cencora has a 1-year low of $163.37 and a 1-year high of $246.75. The stock has a market capitalization of $44.67 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 1.68 and a beta of 0.47. The stock’s fifty day moving average is $238.31 and its two-hundred day moving average is $219.15. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.52.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. The firm had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.50 EPS. As a group, analysts predict that Cencora will post 13.44 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Thursday, May 9th. Cencora’s payout ratio is currently 22.32%.

Insider Buying and Selling at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the completion of the sale, the insider now owns 26,277,561 shares in the company, valued at approximately $6,186,000,635.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the completion of the sale, the insider now directly owns 26,277,561 shares of the company’s stock, valued at approximately $6,186,000,635.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven H. Collis sold 10,754 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at $67,702,698.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,288,790 shares of company stock valued at $1,009,641,379. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

Several large investors have recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in Cencora in the first quarter valued at $25,000. Legacy Bridge LLC bought a new stake in Cencora during the first quarter valued at $27,000. WASHINGTON TRUST Co acquired a new stake in shares of Cencora during the first quarter worth $32,000. Concord Wealth Partners bought a new position in shares of Cencora in the 1st quarter worth about $33,000. Finally, Hanson & Doremus Investment Management acquired a new position in shares of Cencora in the 1st quarter valued at about $33,000. Institutional investors and hedge funds 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.