Cencora (NYSE:COR) Price Target Raised to $355.00

Cencora (NYSE:COR) had its price target increased by equities research analysts at Citigroup from $330.00 to $355.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 25.39% from the stock’s previous close.

Several other research firms have also recently weighed in on COR. Bank of America upped their price objective on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Evercore ISI increased their price objective on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley set a $288.00 target price on Cencora in a research report on Tuesday, April 15th. Finally, Robert W. Baird boosted their price target on Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday. Two investment 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $301.18.

Cencora Stock Down 0.2 %

Shares of Cencora stock opened at $283.12 on Thursday. Cencora has a 1 year low of $214.77 and a 1 year high of $309.35. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The company has a market capitalization of $54.90 billion, a P/E ratio of 40.27, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60. The business has a 50-day moving average of $276.48 and a two-hundred day moving average of $253.31.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company posted $3.80 EPS. As a group, equities analysts predict that Cencora will post 15.37 EPS for the current year.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the transaction, the chairman now owns 315,913 shares in the company, valued at approximately $89,027,442.53. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lazarus Krikorian sold 2,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the sale, the chief accounting officer now owns 20,154 shares of the company’s stock, valued at $5,241,249.24. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,223 shares of company stock valued at $13,580,967 in the last three months. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cencora

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Cencora in the fourth quarter worth $478,309,000. Bank of America Corp DE boosted its position in shares of Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock worth $1,166,944,000 after acquiring an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in Cencora in the fourth quarter valued at approximately $399,508,000. GAMMA Investing LLC lifted its stake in Cencora by 43,561.9% during the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company’s stock worth $444,516,000 after purchasing an additional 1,594,800 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Cencora in the 4th quarter valued at $322,460,000. Institutional investors 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.