Cencora (NYSE:COR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cencora (NYSE:COR) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $289.00 to $301.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 21.11% from the company’s previous close.

COR has been the subject of several other reports. Leerink Partners lowered their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. UBS Group upped their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Evercore ISI increased their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Mizuho assumed coverage on Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target on the stock. Finally, 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. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.00.

Cencora Stock Up 0.2 %

COR stock traded up $0.60 during trading on Friday, reaching $248.54. 110,831 shares of the company traded hands, compared to its average volume of 1,224,238. The business has a 50 day simple moving average of $237.26 and a 200 day simple moving average of $234.40. Cencora has a 12 month low of $214.77 and a 12 month high of $253.27. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The company has a market capitalization of $48.04 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49.

Insider Buying and Selling

In related news, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction 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 represents a 7.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares in the company, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,187 shares of company stock valued at $17,790,912. 15.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in COR. Sylvest Advisors LLC acquired a new position in shares of Cencora during the 4th quarter worth about $1,105,000. DAVENPORT & Co LLC boosted its holdings in shares of Cencora by 2.2% in the 4th quarter. DAVENPORT & Co LLC now owns 5,509 shares of the company’s stock valued at $1,238,000 after buying an additional 120 shares in the last quarter. Caprock Group LLC acquired a new stake in Cencora during the 4th quarter worth $3,111,000. Mediolanum International Funds Ltd boosted its stake in Cencora by 16.7% in the fourth quarter. Mediolanum International Funds Ltd now owns 79,766 shares of the company’s stock valued at $17,880,000 after acquiring an additional 11,426 shares in the last quarter. Finally, Busey Bank lifted its holdings in shares of Cencora by 9.2% in the 4th quarter. Busey Bank now owns 4,699 shares of the company’s stock valued at $1,056,000 after purchasing an additional 395 shares during the last quarter. 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.