Cencora's (COR) "Sector Perform" Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed Cencora’s “sector perform” rating with a $330 price target, implying approximately 1.16% upside from the prior close.
• Analyst sentiment is more positive overall: Cencora has a consensus “Moderate Buy” rating and an average price target of $370.85, supported by 13 Buy ratings and three Holds.
• Cencora exceeded quarterly expectations, reporting $4.48 in EPS versus $4.35 expected and $84.75 billion in revenue, up 5.1% year over year; the company also authorized a $2 billion share-buyback program.

Cencora (NYSE:COR - Get Free Report)'s stock had its "sector perform" rating reissued by equities researchers at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $330.00 price objective on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 1.16% from the company's previous close.

A number of other equities research analysts have also recently issued reports on COR. Morgan Stanley lifted their price target on shares of Cencora from $342.00 to $346.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Citigroup restated a "buy" rating on shares of Cencora in a research report on Thursday, August 6th. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Wells Fargo & Company lifted their target price on shares of Cencora from $331.00 to $395.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Finally, Bank of America boosted their target price on shares of Cencora from $280.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $370.85.

Cencora Price Performance

NYSE COR traded down $4.73 during trading hours on Tuesday, reaching $326.22. The company's stock had a trading volume of 173,960 shares, compared to its average volume of 1,501,293. The firm has a market capitalization of $62.25 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 1.88 and a beta of 0.57. The company's 50-day moving average is $313.30 and its two-hundred day moving average is $309.32. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. Cencora has a 1-year low of $244.82 and a 1-year high of $377.54.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.35 by $0.13. The company had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.Cencora's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $4.00 earnings per share. On average, equities analysts predict that Cencora will post 17.87 EPS for the current year.

Cencora declared that its board has approved a stock buyback plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Lauren M. Tyler acquired 550 shares of the firm's stock in a transaction on Monday, June 22nd. The shares were bought at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the acquisition, the director owned 4,359 shares of the company's stock, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 sale, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.38% of the company's stock.

Institutional Trading of Cencora

Large investors have recently bought and sold shares of the business. Deutsche Bank AG acquired a new stake in shares of Cencora in the 2nd quarter worth $286,673,000. ExodusPoint Capital Management LP acquired a new position in shares of Cencora during the 4th quarter valued at about $16,487,000. Impact Partnership Wealth LLC acquired a new position in shares of Cencora during the 1st quarter valued at about $1,170,000. SEB Asset Management AB purchased a new stake in shares of Cencora in the first quarter valued at about $134,139,000. Finally, Summit Global Investments purchased a new stake in shares of Cencora in the second quarter valued at about $2,283,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

About Cencora

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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