Cencora (NYSE:COR) Price Target Raised to $280.00 at Evercore ISI

Cencora (NYSE:COR) had its price objective hoisted by investment analysts at Evercore ISI from $270.00 to $280.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 13.05% from the stock’s current price.

Several other analysts also recently weighed in on COR. UBS Group upped their price target on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird increased their price objective on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Mizuho began coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price for the company. Wells Fargo & Company increased their price target on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $277.90.

Cencora Stock Down 2.2 %

Shares of NYSE:COR traded down $5.61 during trading on Thursday, hitting $247.67. The stock had a trading volume of 309,255 shares, compared to its average volume of 1,331,742. The company has a market capitalization of $47.87 billion, a PE ratio of 33.03, a PEG ratio of 1.59 and a beta of 0.49. The firm’s fifty day moving average is $239.08 and its 200 day moving average is $236.51. Cencora has a 12 month low of $214.77 and a 12 month high of $262.26. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.51% and a return on equity of 266.62%. Analysts anticipate that Cencora will post 15.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the transaction, the chairman now owns 306,752 shares of the company’s stock, valued at $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,187 shares of company stock valued at $17,790,912 over the last 90 days. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its stake in Cencora by 6,855.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after purchasing an additional 2,035,679 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Cencora by 7.0% in the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after buying an additional 338,452 shares in the last quarter. Nordea Investment Management AB boosted its stake in Cencora by 40.2% during the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after buying an additional 308,773 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after buying an additional 292,600 shares in the last quarter. Finally, State Street Corp increased its stake in Cencora by 3.8% in the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after acquiring an additional 291,867 shares during the last quarter. 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.