Barclays Forecasts Strong Price Appreciation for Cencora (NYSE:COR) Stock

Cencora (NYSE:COR) had its target price lifted by investment analysts at Barclays from $263.00 to $290.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 18.18% from the company’s previous close.

A number of other research firms also recently weighed in on COR. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. upped their target price on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Bank of America reissued a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Robert W. Baird decreased their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Finally, Leerink Partners cut their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $268.67.

Cencora Stock Performance

Shares of Cencora stock opened at $245.38 on Thursday. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $231.57 and a 200 day simple moving average of $230.64. Cencora has a fifty-two week low of $191.11 and a fifty-two week high of $247.66. The firm has a market cap of $48.35 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.49 and a beta of 0.44.

Cencora (NYSE:COR) last released its earnings results on Wednesday, November 6th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.21 by $0.13. The company had revenue of $79.05 billion during the quarter, compared to analysts’ expectations of $77.68 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. Sell-side analysts predict that Cencora will post 13.64 earnings per share for the current fiscal year.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the transaction, the chairman now directly owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cencora

A number of institutional investors and hedge funds have recently bought and sold shares of the company. New Millennium Group LLC bought a new stake in Cencora during the 2nd quarter worth approximately $26,000. TCTC Holdings LLC bought a new stake in shares of Cencora in the first quarter worth $29,000. TFO Wealth Partners LLC acquired a new stake in Cencora in the first quarter valued at $30,000. MFA Wealth Advisors LLC bought a new position in Cencora during the 2nd quarter worth $30,000. Finally, Concord Wealth Partners acquired a new position in Cencora during the 3rd quarter worth about $30,000. 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.