Cencora (NYSE:COR) Price Target Raised to $292.00 at Robert W. Baird

Cencora (NYSE:COR) had its target price lifted by equities research analysts at Robert W. Baird from $287.00 to $292.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 17.03% from the company’s current price.

COR has been the topic of several other reports. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. raised their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. UBS Group increased their price target on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company lifted their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, Bank of America restated a “neutral” rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $271.20.

Cencora Price Performance

Shares of Cencora stock traded up $4.12 during trading on Thursday, reaching $249.50. 721,810 shares of the stock traded hands, compared to its average volume of 1,405,943. 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 company has a market capitalization of $49.16 billion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 1.49 and a beta of 0.44. Cencora has a 52-week low of $191.11 and a 52-week high of $250.43. The business has a fifty day simple moving average of $231.57 and a two-hundred day simple moving average of $230.64.

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

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

A number of hedge funds have recently made changes to their positions in COR. New Millennium Group LLC purchased a new stake in Cencora during the second quarter valued at approximately $26,000. TCTC Holdings LLC purchased a new stake in shares of Cencora during the 1st quarter valued at $29,000. TFO Wealth Partners LLC acquired a new stake in shares of Cencora in the 1st quarter worth $30,000. MFA Wealth Advisors LLC purchased 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 valued at about $30,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

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.