Cencora (NYSE:COR) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Cencora (NYSE:COR) had its target price boosted by stock analysts at Wells Fargo & Company from $251.00 to $274.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.25% from the stock’s previous close.

A number of other research firms have also issued reports on COR. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday. Mizuho started coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Evercore ISI boosted their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $280.20.

Cencora Stock Performance

NYSE:COR traded down $0.53 on Friday, reaching $255.49. 69,984 shares of the company’s stock were exchanged, compared to its average volume of 1,352,499. The firm has a market cap of $49.54 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The stock has a fifty day simple moving average of $247.01 and a 200-day simple moving average of $238.93. Cencora has a 52 week low of $214.77 and a 52 week high of $263.70.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, sell-side analysts predict that Cencora will post 15.37 earnings per share for the current year.

Insider Activity

In other news, CAO Lazarus Krikorian sold 2,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at approximately $5,241,249.24. This represents a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now owns 15,374 shares in the company, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,648 shares of company stock worth $3,382,462. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Cencora

Several hedge funds and other institutional investors have recently bought and sold shares of COR. Centaurus Financial Inc. boosted its stake in shares of Cencora by 37.5% in the 4th quarter. Centaurus Financial Inc. now owns 2,462 shares of the company’s stock valued at $553,000 after purchasing an additional 672 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new stake in Cencora during the fourth quarter valued at about $136,000. Siemens Fonds Invest GmbH grew its stake in shares of Cencora by 944.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 19,972 shares of the company’s stock valued at $4,645,000 after buying an additional 18,060 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Cencora in the fourth quarter worth about $38,652,000. Finally, Azzad Asset Management Inc. ADV lifted its stake in shares of Cencora by 34.5% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 10,905 shares of the company’s stock valued at $2,450,000 after acquiring an additional 2,800 shares during the last quarter. Hedge funds and other 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.