Cencora (NYSE:COR) Stock Price Expected to Rise, Bank of America Analyst Says

Cencora (NYSE:COR) had its target price lifted by investment analysts at Bank of America from $270.00 to $285.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 0.19% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company raised their price objective on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Evercore ISI raised their price target on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.20.

Cencora Price Performance

Shares of Cencora stock opened at $284.46 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora has a 52 week low of $214.77 and a 52 week high of $296.65. The stock’s 50-day simple moving average is $260.27 and its 200-day simple moving average is $245.01. The company has a market capitalization of $55.16 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 1.31 and a beta of 0.55.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, analysts expect that Cencora will post 15.37 earnings per share for the current fiscal year.

Insider Transactions at Cencora

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the transaction, the executive vice president now owns 14,665 shares in the company, valued at $3,934,326.20. The trade was a 21.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction on Monday, March 10th. The stock was 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 in the company, valued at approximately $5,241,249.24. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,675 shares of company stock worth $8,034,778. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cencora

A number of hedge funds have recently added to or reduced their stakes in COR. Hickory Asset Management Inc. bought a new position in Cencora in the fourth quarter worth approximately $572,000. Sylvest Advisors LLC purchased a new stake in shares of Cencora in the 4th quarter worth $1,105,000. Insight Wealth Strategies LLC grew its position in shares of Cencora by 124.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock worth $4,549,000 after buying an additional 11,232 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Cencora by 46.9% during the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company’s stock valued at $1,403,000 after buying an additional 1,995 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Cencora by 71.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company’s stock valued at $1,583,000 after acquiring an additional 2,928 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

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.