Cencora (NYSE:COR) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Cencora (NYSE:COR) had its price objective boosted by equities research analysts at Robert W. Baird from $314.00 to $350.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 23.62% from the stock’s current price.

Several other brokerages have also recently commented on COR. Bank of America raised their price target on shares of Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, April 11th. UBS Group upped their price target on Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wells Fargo & Company lifted their price objective on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Morgan Stanley set a $288.00 target price on shares of Cencora in a research note on Tuesday, April 15th. Finally, StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $301.18.

Cencora Stock Down 0.2 %

NYSE:COR opened at $283.12 on Thursday. Cencora has a 52 week low of $214.77 and a 52 week high of $309.35. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The stock’s fifty day moving average is $276.48 and its two-hundred day moving average is $253.31. The stock has a market capitalization of $54.90 billion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60.

Cencora (NYSE:COR) last released its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.35. The company had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Cencora’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.80 EPS. Research analysts anticipate that Cencora will post 15.37 EPS for the current year.

Insider Activity

In other Cencora news, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the sale, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This represents a 24.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total value of $4,108,507.99. Following the completion of the transaction, the chairman now owns 315,913 shares in the company, valued at $89,027,442.53. This trade represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,223 shares of company stock valued at $13,580,967 in the last ninety days. 10.80% of the stock is currently owned by company insiders.

Institutional Trading of Cencora

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Cencora in the fourth quarter valued at about $478,309,000. Bank of America Corp DE boosted its stake in shares of Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock valued at $1,166,944,000 after buying an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Cencora during the fourth quarter worth $399,508,000. GAMMA Investing LLC raised its position in Cencora by 43,561.9% in the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company’s stock worth $444,516,000 after acquiring an additional 1,594,800 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Cencora in the fourth quarter valued at $322,460,000. 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.