Cencora (NYSE:COR) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Cencora (NYSE:COR - Get Free Report) had its price objective boosted by research analysts at Robert W. Baird from $314.00 to $350.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's target price would suggest a potential upside of 15.12% from the stock's current price.

A number of other equities analysts have also recently issued reports on COR. UBS Group lifted their target price on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley set a $288.00 price objective on shares of Cencora in a research note on Tuesday, April 15th. Bank of America lifted their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. StockNews.com upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Evercore ISI raised their target price on Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $295.80.

Cencora Stock Performance

Shares of COR opened at $304.04 on Thursday. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora has a 12-month low of $214.77 and a 12-month high of $309.35. The business's fifty day moving average price is $275.33 and its 200 day moving average price is $252.65. The stock has a market capitalization of $58.96 billion, a PE ratio of 43.25, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The business had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. During the same quarter in the previous year, the firm posted $3.80 EPS. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts forecast that Cencora will post 15.37 EPS for the current year.

Insider Activity at Cencora

In other Cencora news, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction on Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the transaction, the executive vice president now owns 15,374 shares in the company, valued at approximately $3,724,197.76. The trade was a 24.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the sale, the executive vice president now owns 14,665 shares in the company, valued at $3,934,326.20. The trade was a 21.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,223 shares of company stock valued at $13,580,967. 10.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cencora

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings in shares of Cencora by 20.4% in the third quarter. Franklin Resources Inc. now owns 207,131 shares of the company's stock valued at $46,564,000 after purchasing an additional 35,024 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Cencora by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 306,726 shares of the company's stock valued at $69,038,000 after buying an additional 19,831 shares during the period. CWA Asset Management Group LLC raised its position in shares of Cencora by 23.6% during the fourth quarter. CWA Asset Management Group LLC now owns 1,562 shares of the company's stock worth $351,000 after acquiring an additional 298 shares during the last quarter. First Hawaiian Bank lifted its position in Cencora by 7.0% during the 4th quarter. First Hawaiian Bank now owns 10,654 shares of the company's stock valued at $2,394,000 after purchasing an additional 701 shares during the period. Finally, ORG Partners LLC lifted its holdings in Cencora by 17.4% in the fourth quarter. ORG Partners LLC now owns 426 shares of the company's stock valued at $96,000 after buying an additional 63 shares during the period. 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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