Cencora (NYSE:COR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cencora (NYSE:COR) had its target price increased by equities researchers at JPMorgan Chase & Co. from $289.00 to $301.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 21.11% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Barclays boosted their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Mizuho began coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price for the company. Robert W. Baird lifted their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Leerink Partners dropped their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, UBS Group lifted their target price on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.00.

Cencora Price Performance

NYSE:COR traded up $0.60 on Friday, reaching $248.54. 110,831 shares of the company’s stock traded hands, compared to its average volume of 1,224,238. The stock has a 50-day simple moving average of $237.26 and a 200-day simple moving average of $234.40. Cencora has a 12 month low of $214.77 and a 12 month high of $253.27. The firm has a market cap of $48.04 billion, a PE ratio of 33.09, a P/E/G ratio of 1.54 and a beta of 0.49. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the sale, the chairman now directly owns 326,557 shares in the company, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,187 shares of company stock worth $17,790,912 over the last three months. 15.80% of the stock is owned by insiders.

Institutional Trading of Cencora

A number of hedge funds and other institutional investors have recently bought and sold shares of COR. Pacer Advisors Inc. increased its position in shares of Cencora by 6,855.3% during the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after acquiring an additional 2,035,679 shares during the period. Wellington Management Group LLP grew its stake in Cencora by 7.0% in the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after purchasing an additional 338,452 shares in the last quarter. Nordea Investment Management AB increased its holdings in Cencora by 40.2% during the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after purchasing an additional 308,773 shares during the period. Two Sigma Advisers LP raised its position in Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after purchasing an additional 292,600 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Cencora by 3.8% in the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after buying an additional 291,867 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

About Cencora

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.