Cencora (NYSE:COR) Stock Price Target Raised at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Cencora’s price target to $413 from $390 and maintained an “overweight” rating, implying about 19.2% upside from the cited share price.
• Analyst sentiment is broadly positive: 12 analysts rate the stock Buy and four Hold, giving it a “Moderate Buy” consensus; the average target is $368.14.
• Cencora beat quarterly estimates, reporting EPS of $4.66 versus $4.58 expected and revenue of $88.35 billion, up 5.5% year over year.

Cencora (NYSE:COR - Get Free Report) had its target price increased by JPMorgan Chase & Co. from $390.00 to $413.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 19.20% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. Argus boosted their target price on Cencora from $340.00 to $380.00 and gave the stock a "buy" rating in a research report on Tuesday, October 20th. Morgan Stanley increased their target price on Cencora from $346.00 to $377.00 and gave the stock an "overweight" rating in a research note on Friday, October 30th. Evercore reissued an "outperform" rating and issued a $350.00 price target (up from $330.00) on shares of Cencora in a report on Thursday, August 6th. Leerink Partners lifted their price target on Cencora from $388.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, November 5th. Finally, Robert W. Baird upped their price objective on Cencora from $373.00 to $375.00 and gave the stock an "outperform" rating in a report on Thursday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and an average price target of $368.14.

Cencora Stock Performance

NYSE:COR traded up $0.73 during midday trading on Tuesday, reaching $346.49. The stock had a trading volume of 200,964 shares, compared to its average volume of 1,470,004. The company has a quick ratio of 0.58, a current ratio of 0.94 and a debt-to-equity ratio of 3.01. The stock has a market cap of $66.12 billion, a P/E ratio of 19.32, a P/E/G ratio of 1.84 and a beta of 0.58. The firm has a fifty day simple moving average of $325.56 and a two-hundred day simple moving average of $317.25. Cencora has a 12-month low of $244.82 and a 12-month high of $377.54.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $4.66 EPS for the quarter, topping analysts' consensus estimates of $4.58 by $0.08. Cencora had a net margin of 1.03% and a return on equity of 110.72%. The company had revenue of $88.35 billion during the quarter, compared to the consensus estimate of $87.95 billion. During the same quarter in the prior year, the firm earned $3.84 EPS. Cencora's quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts expect that Cencora will post 19.58 EPS for the current year.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of Cencora stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares of the company's stock, valued at $6,305,754.60. The trade was a 36.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cencora

Several hedge funds have recently added to or reduced their stakes in the business. William Blair Investment Management LLC boosted its position in shares of Cencora by 1.3% during the third quarter. William Blair Investment Management LLC now owns 2,810 shares of the company's stock worth $844,000 after acquiring an additional 35 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Cencora by 1.8% during the third quarter. Pinnacle Associates Ltd. now owns 2,203 shares of the company's stock valued at $662,000 after acquiring an additional 38 shares in the last quarter. Elmwood Wealth Management Inc. grew its stake in Cencora by 0.9% during the second quarter. Elmwood Wealth Management Inc. now owns 4,314 shares of the company's stock valued at $1,221,000 after acquiring an additional 40 shares in the last quarter. Signature Equity Partners LLC increased its holdings in Cencora by 4.6% in the 1st quarter. Signature Equity Partners LLC now owns 937 shares of the company's stock valued at $294,000 after acquiring an additional 41 shares during the last quarter. Finally, Mosley Wealth Management increased its holdings in Cencora by 11.5% in the 3rd quarter. Mosley Wealth Management now owns 407 shares of the company's stock valued at $122,000 after acquiring an additional 42 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical services company that connects pharmaceutical manufacturers with healthcare providers. Its core business includes sourcing and distributing medicines and other healthcare products to pharmacies, hospitals, health systems and other care providers.

The company also provides services supporting specialty pharmaceuticals, including logistics, consulting and solutions for manufacturers and healthcare organizations. These services help manage the handling and delivery of complex medicines and support access to treatments.

Cencora serves customers in the United States and internationally.

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