Cencora (NYSE:COR) Given New $300.00 Price Target at Jefferies Financial Group

Cencora (NYSE:COR - Get Free Report) had its price objective raised by analysts at Jefferies Financial Group from $275.00 to $300.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Jefferies Financial Group's price target would suggest a potential upside of 0.55% from the stock's current price.

Several other brokerages also recently issued reports on COR. Bank of America upped their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Robert W. Baird boosted their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. UBS Group raised their price objective on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Finally, Citigroup raised their price target on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $306.33.

Cencora Price Performance

NYSE:COR traded down $1.06 during trading hours on Monday, hitting $298.36. The company's stock had a trading volume of 264,851 shares, compared to its average volume of 1,499,761. Cencora has a 52-week low of $218.65 and a 52-week high of $309.35. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. The business's 50-day moving average is $289.95 and its two-hundred day moving average is $265.45. The company has a market capitalization of $57.83 billion, a PE ratio of 34.61, a PEG ratio of 1.48 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.35. The firm had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $3.80 EPS. As a group, research analysts anticipate that Cencora will post 15.37 EPS for the current fiscal year.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the sale, the chairman now directly owns 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer now directly owns 47,582 shares in the company, valued at $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,127 shares of company stock valued at $9,812,296. 10.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cencora

A number of institutional investors have recently modified their holdings of COR. Norges Bank acquired a new position in Cencora in the fourth quarter valued at approximately $478,309,000. Bank of America Corp DE boosted its position in Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after purchasing an additional 1,994,256 shares during the period. Castlekeep Investment Advisors LLC bought a new position in Cencora during the 4th quarter worth $399,508,000. GAMMA Investing LLC increased its position in Cencora by 43,561.9% in the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock worth $444,516,000 after buying an additional 1,594,800 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Cencora in the fourth quarter worth $322,460,000. Institutional investors own 97.52% of the company's stock.

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.

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