Citigroup Increases Cencora (NYSE:COR) Price Target to $280.00

Cencora (NYSE:COR) had its price objective boosted by stock analysts at Citigroup from $265.00 to $280.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 22.15% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. SVB Leerink started coverage on shares of Cencora in a research note on Monday, February 26th. They set an “outperform” rating and a $261.00 price target for the company. Leerink Partnrs restated an “outperform” rating on shares of Cencora in a research note on Monday, February 26th. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 1st. Barclays began coverage on shares of Cencora in a report on Wednesday, January 3rd. They set an “overweight” rating and a $242.00 price objective for the company. Finally, Mizuho raised their price objective on shares of Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and an average price target of $224.40.

Cencora Stock Down 4.1 %

NYSE COR opened at $229.23 on Tuesday. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.52 and a current ratio of 0.88. The firm has a 50-day simple moving average of $238.76 and a 200 day simple moving average of $218.63. Cencora has a twelve month low of $163.37 and a twelve month high of $246.75. The stock has a market cap of $45.73 billion, a PE ratio of 24.97, a PEG ratio of 1.83 and a beta of 0.45.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.42. The firm had revenue of $72.25 billion during the quarter, compared to analysts’ expectations of $68.81 billion. Cencora had a net margin of 0.69% and a return on equity of 323.23%. During the same quarter last year, the company earned $2.71 earnings per share. On average, research analysts forecast that Cencora will post 13.43 EPS for the current year.

Insider Activity at Cencora

In related news, EVP Elizabeth S. Campbell sold 6,977 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $238.12, for a total value of $1,661,363.24. Following the completion of the sale, the executive vice president now owns 8,246 shares of the company’s stock, valued at $1,963,537.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Elizabeth S. Campbell sold 6,977 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $238.12, for a total value of $1,661,363.24. Following the completion of the sale, the executive vice president now owns 8,246 shares of the company’s stock, valued at $1,963,537.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of Cencora stock in a transaction on 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 sale, the insider now directly owns 26,277,561 shares of the company’s stock, valued at approximately $6,186,000,635.01. The disclosure for this sale can be found here. Insiders sold a total of 4,288,790 shares of company stock valued at $1,009,641,379 over the last quarter. Corporate insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

A number of institutional investors have recently bought and sold shares of COR. Vanguard Group Inc. acquired a new stake in Cencora during the 4th quarter worth $4,212,508,000. Bank of New York Mellon Corp acquired a new stake in Cencora during the 1st quarter worth $291,825,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Cencora during the 1st quarter worth $238,457,000. Principal Financial Group Inc. bought a new position in shares of Cencora during the first quarter worth $75,916,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Cencora during the first quarter worth $73,653,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

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.