Cencora (NYSE:COR) Given a $330.00 Price Target by Morgan Stanley Analysts

Cencora (NYSE:COR - Get Free Report) received a $330.00 price target from equities researchers at Morgan Stanley in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 12.02% from the company's current price.

A number of other research analysts also recently issued reports on the stock. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Robert W. Baird raised their price objective on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Bank of America raised their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Jefferies Financial Group raised their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Finally, UBS Group raised their price objective on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $309.83.

Cencora Stock Down 1.1%

Shares of NYSE COR traded down $3.25 during midday trading on Wednesday, hitting $294.58. The company's stock had a trading volume of 779,210 shares, compared to its average volume of 1,502,599. The business's fifty day simple moving average is $291.96 and its two-hundred day simple moving average is $271.13. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. Cencora has a 1 year low of $218.65 and a 1 year high of $309.35. The firm has a market capitalization of $57.10 billion, a price-to-earnings ratio of 34.17, a price-to-earnings-growth ratio of 1.46 and a beta of 0.57.

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

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction 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 transaction, the chairman directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total value of $1,437,680.77. Following the transaction, the chief executive officer directly owned 47,582 shares in the company, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,127 shares of company stock worth $9,812,296 over the last three months. Corporate insiders own 10.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of COR. Independent Advisor Alliance grew its holdings in Cencora by 64.7% during the fourth quarter. Independent Advisor Alliance now owns 1,659 shares of the company's stock worth $373,000 after acquiring an additional 652 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Cencora by 236.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,043 shares of the company's stock worth $2,256,000 after acquiring an additional 7,059 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Cencora by 5.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,245 shares of the company's stock worth $4,099,000 after acquiring an additional 1,021 shares during the period. Corient Private Wealth LLC grew its holdings in Cencora by 3.4% during the fourth quarter. Corient Private Wealth LLC now owns 41,517 shares of the company's stock worth $9,328,000 after acquiring an additional 1,378 shares during the period. Finally, Cibc World Markets Corp increased its stake in Cencora by 15.7% in the 4th quarter. Cibc World Markets Corp now owns 27,753 shares of the company's stock worth $6,236,000 after purchasing an additional 3,764 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

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.