Cencora (NYSE:COR) Price Target Raised to $249.00

Cencora (NYSE:COR) had its price objective hoisted by Wells Fargo & Company from $236.00 to $249.00 in a report released on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 3.96% from the stock’s previous close.

COR has been the subject of a number of other reports. SVB Leerink reissued an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Citigroup increased their price objective on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Robert W. Baird increased their price objective on Cencora from $285.00 to $287.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.00.

Cencora Price Performance

Shares of NYSE:COR traded up $1.63 during trading hours on Thursday, hitting $239.51. 77,017 shares of the company’s stock traded hands, compared to its average volume of 1,365,326. Cencora has a 52 week low of $171.65 and a 52 week high of $246.75. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89. The company’s fifty day simple moving average is $227.78 and its two-hundred day simple moving average is $230.89. The company has a market cap of $47.77 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.60 and a beta of 0.45.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The company had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. During the same quarter last year, the firm posted $2.92 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts anticipate that Cencora will post 13.46 EPS for the current fiscal year.

Insider Transactions at Cencora

In other Cencora news, Director Dermot Mark Durcan bought 500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average cost of $218.58 per share, with a total value of $109,290.00. Following the acquisition, the director now owns 21,876 shares of the company’s stock, valued at $4,781,656.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Dermot Mark Durcan purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the transaction, the director now owns 21,876 shares of the company’s stock, valued at $4,781,656.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The disclosure for this sale can be found here. Insiders have sold a total of 1,899,112 shares of company stock worth $408,654,376 in the last 90 days. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

Institutional investors have recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in Cencora during the first quarter worth about $25,000. Legacy Bridge LLC bought a new stake in Cencora in the first quarter valued at $27,000. New Millennium Group LLC bought a new stake in Cencora in the second quarter valued at $26,000. TCTC Holdings LLC bought a new stake in Cencora in the first quarter valued at $29,000. Finally, TFO Wealth Partners LLC purchased a new position in Cencora during the 1st 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.