Cencora (NYSE:COR) Price Target Raised to $277.00

Cencora (NYSE:COR - Get Free Report) had its price objective boosted by investment analysts at Robert W. Baird from $275.00 to $277.00 in a report released on Thursday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price target indicates a potential upside of 23.25% from the company's previous close.

Several other equities research analysts have also recently weighed in on COR. Leerink Partnrs reiterated an "outperform" rating on shares of Cencora in a report on Monday, February 26th. Citigroup lifted their target price on Cencora from $265.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday. StockNews.com upgraded Cencora from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 1st. SVB Leerink assumed coverage on Cencora in a research report on Monday, February 26th. They issued an "outperform" rating and a $261.00 price objective on the stock. Finally, Mizuho boosted their price objective on Cencora from $192.00 to $224.00 and gave the company a "neutral" rating in a research report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.18.

Cencora Stock Performance

Shares of NYSE:COR traded down $4.45 during midday trading on Thursday, reaching $224.75. 2,042,113 shares of the company traded hands, compared to its average volume of 1,289,394. The company has a quick ratio of 0.52, a current ratio of 0.88 and a debt-to-equity ratio of 3.94. Cencora has a 12 month low of $163.37 and a 12 month high of $246.75. The firm has a market capitalization of $44.83 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 1.83 and a beta of 0.47. The firm's fifty day moving average price is $238.57 and its two-hundred day moving average price is $218.67.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, topping analysts' consensus estimates of $3.65 by $0.15. The business had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. Cencora had a return on equity of 323.23% and a net margin of 0.69%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.50 EPS. On average, equities analysts expect that Cencora will post 13.43 earnings per share for the current year.

Insider Activity

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total value of $991,639,906.95. Following the sale, the insider now owns 26,277,561 shares of the company's stock, valued at $6,186,000,635.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total value of $991,639,906.95. Following the completion of the transaction, the insider now owns 26,277,561 shares in the company, valued at $6,186,000,635.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gina Clark sold 1,100 shares of the business's stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $230.48, for a total transaction of $253,528.00. Following the transaction, the executive vice president now owns 24,802 shares of the company's stock, valued at approximately $5,716,364.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,288,790 shares of company stock valued at $1,009,641,379. 15.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cencora

Institutional investors and hedge funds have recently made changes to their positions in the business. Rise Advisors LLC acquired a new stake in shares of Cencora in the first quarter valued at approximately $25,000. Legacy Bridge LLC purchased a new position in Cencora during the first quarter worth approximately $27,000. WASHINGTON TRUST Co purchased a new position in Cencora during the first quarter worth approximately $32,000. Concord Wealth Partners purchased a new position in Cencora during the first quarter worth approximately $33,000. Finally, Hanson & Doremus Investment Management purchased a new position in shares of Cencora in the 1st quarter valued at $33,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

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.