Cencora (NYSE:COR) Price Target Raised to $390.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Cencora’s price target to $390 from $382 and maintained an “overweight” rating, implying approximately 20.7% upside from the reported share price of $323.15.
• Analyst sentiment remains positive, with 12 Buy ratings and three Holds; the consensus rating is “Moderate Buy” with an average price target of $368.58.
• Cencora exceeded quarterly expectations, reporting adjusted earnings of $4.48 per share and revenue of $84.75 billion, while also authorizing a $2 billion share repurchase plan.

Cencora (NYSE:COR - Get Free Report) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $382.00 to $390.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 20.69% from the company's current price.

Several other equities analysts also recently weighed in on COR. Wells Fargo & Company dropped their target price on shares of Cencora from $429.00 to $331.00 and set an "overweight" rating for the company in a report on Monday, May 11th. Weiss Ratings downgraded shares of Cencora from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, June 30th. Bank of America increased their price target on shares of Cencora from $280.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, June 24th. Morgan Stanley restated an "overweight" rating on shares of Cencora in a research report on Friday. Finally, Barclays reduced their target price on Cencora from $425.00 to $350.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 10th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cencora has a consensus rating of "Moderate Buy" and a consensus price target of $368.58.

Cencora Price Performance

COR traded down $1.86 during trading on Friday, reaching $323.15. 290,623 shares of the stock were exchanged, compared to its average volume of 1,537,131. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.59. The company has a market capitalization of $62.87 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 1.76 and a beta of 0.57. Cencora has a 1 year low of $244.82 and a 1 year high of $377.54. The business's 50 day moving average price is $292.86 and its two-hundred day moving average price is $314.37.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating analysts' consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to analysts' expectations of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $4.00 earnings per share. As a group, equities research analysts anticipate that Cencora will post 17.8 earnings per share for the current year.

Cencora announced that its Board of Directors has approved a share buyback plan on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Cencora news, Director Lauren M. Tyler bought 550 shares of Cencora stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the transaction, the director owned 4,359 shares of the company's stock, valued at $1,177,932.57. This represents a 14.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Kemnay Advisory Services Inc. purchased a new stake in Cencora in the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. purchased a new position in Cencora during the fourth quarter worth approximately $26,000. Elyxium Wealth LLC acquired a new position in shares of Cencora in the 4th quarter valued at $27,000. Elevation Wealth Partners LLC boosted its holdings in shares of Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock valued at $27,000 after purchasing an additional 81 shares during the last quarter. Finally, Archer Investment Corp grew its stake in shares of Cencora by 134.3% during the 4th quarter. Archer Investment Corp now owns 82 shares of the company's stock valued at $28,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Company Profile

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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