Cencora (NYSE:COR) Stock Rating Upgraded by Royal Bank Of Canada

Key Points

• Royal Bank of Canada upgraded Cencora to a “hold” rating, while the broader analyst consensus remains “Moderate Buy,” with 13 Buy ratings and three Holds and an average price target of $370.85.
• Cencora reported quarterly EPS of $4.48, beating estimates of $4.35, while revenue reached $84.75 billion, up 5.1% year over year and slightly above expectations.
• The company approved a $2 billion share-repurchase program, allowing it to buy back up to 3.9% of outstanding shares; institutional investors own 97.52% of the stock.

Cencora (NYSE:COR - Get Free Report) was upgraded by Royal Bank Of Canada to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

COR has been the subject of a number of other reports. UBS Group upped their target price on shares of Cencora from $412.00 to $430.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Robert W. Baird set a $370.00 price target on shares of Cencora in a research note on Thursday, August 6th. Citigroup reissued a "buy" rating on shares of Cencora in a research report on Thursday, August 6th. Finally, Bank of America upped their price objective on Cencora from $280.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and a consensus target price of $370.85.

Cencora Trading Up 0.2%

Shares of NYSE:COR opened at $316.78 on Wednesday. The stock has a market capitalization of $60.45 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.81 and a beta of 0.57. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The stock's 50-day simple moving average is $301.20 and its two-hundred day simple moving average is $312.16. Cencora has a 52-week low of $244.82 and a 52-week high of $377.54.

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

Cencora announced that its board has approved a share repurchase program on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Lauren M. Tyler purchased 550 shares of the company's stock in a transaction on Monday, June 22nd. The stock was acquired 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 directly owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.

Institutional Trading of Cencora

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

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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