Cencora (NYSE:COR) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Cencora from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy,” with 13 buy ratings and two holds.
• Analysts raised several price targets, including JPMorgan’s increase to $390; the consensus target is $368.92 versus the stock’s recent opening price of $320.62.
• Cencora exceeded quarterly expectations, reporting adjusted EPS of $4.48 and revenue of $84.75 billion, while also authorizing a $2 billion share buyback covering up to 3.9% of outstanding shares.

Cencora (NYSE:COR - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other brokerages have also weighed in on COR. JPMorgan Chase & Co. raised their target price on shares of Cencora from $382.00 to $390.00 and gave the company an "overweight" rating in a research report on Friday. Weiss Ratings upgraded Cencora from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday. Robert W. Baird set a $370.00 price target on Cencora in a research note on Thursday. Bank of America boosted their price objective on Cencora from $280.00 to $285.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 24th. Finally, Morgan Stanley upped their target price on Cencora from $342.00 to $346.00 and gave the stock an "overweight" rating in a report on Friday. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $368.92.

Cencora Stock Down 1.3%

Shares of NYSE COR opened at $320.62 on Friday. The company has a market cap of $62.38 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.87 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.59 and a debt-to-equity ratio of 3.53. Cencora has a 12 month low of $244.82 and a 12 month high of $377.54. The stock has a 50-day moving average price of $293.89 and a two-hundred day moving average price of $314.42.

Cencora (NYSE:COR - Get Free Report) last posted 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 company had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $4.00 EPS. As a group, analysts forecast that Cencora will post 17.82 earnings per share for the current fiscal year.

Cencora declared that its board has initiated a stock buyback plan on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

Insider Activity at Cencora

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of Cencora stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the purchase, 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 document filed with the SEC, which is available at the SEC website. Company insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Kemnay Advisory Services Inc. acquired a new stake in shares of Cencora in the fourth quarter valued at about $25,000. Oakworth Capital Inc. acquired a new position in shares of Cencora in the fourth quarter worth approximately $26,000. Elyxium Wealth LLC acquired a new position in shares of Cencora in the fourth quarter worth approximately $27,000. Elevation Wealth Partners LLC boosted its holdings in Cencora by 506.2% in the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock valued at $27,000 after acquiring an additional 81 shares during the last quarter. Finally, Archer Investment Corp increased its position in 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 purchasing an additional 47 shares during the period. 97.52% of the stock is 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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