Robert W. Baird Issues Positive Forecast for Cencora (NYSE:COR) Stock Price

Cencora (NYSE:COR) had its price objective increased by research analysts at Robert W. Baird from $287.00 to $292.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 17.54% from the stock’s previous close.

COR has been the subject of a number of other research reports. Wells Fargo & Company increased their target price on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective 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. Barclays boosted their target price on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday. Bank of America reiterated a “neutral” rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Finally, UBS Group upped their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $271.20.

Cencora Stock Performance

COR opened at $248.42 on Thursday. Cencora has a twelve month low of $191.11 and a twelve month high of $251.00. The stock has a market cap of $48.95 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 1.49 and a beta of 0.44. The business’s 50 day moving average is $231.95 and its 200-day moving average is $230.84. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.21 by $0.13. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company had revenue of $79.05 billion during the quarter, compared to analyst estimates of $77.68 billion. On average, analysts predict that Cencora will post 13.64 earnings per share for the current year.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the 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 completion of the sale, the chairman now directly owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

Hedge funds and other institutional investors have recently modified their holdings of the company. Lake Street Advisors Group LLC raised its position in Cencora by 1.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after acquiring an additional 43 shares in the last quarter. Financial Advocates Investment Management boosted its stake in Cencora by 4.7% during the 2nd quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after purchasing an additional 44 shares during the period. Venturi Wealth Management LLC boosted its holdings in Cencora by 1.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after purchasing an additional 46 shares during the period. Prime Capital Investment Advisors LLC grew its position in Cencora by 1.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after buying an additional 46 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its position in shares of Cencora by 2.2% during the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after purchasing an additional 48 shares during the period. 97.52% of the stock is currently 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.