Bank of America Issues Positive Forecast for Cencora (NYSE:COR) Stock Price

Cencora (NYSE:COR) had its target price raised by investment analysts at Bank of America from $280.00 to $285.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price objective would suggest a potential downside of 0.79% from the company’s current price.

A number of other equities analysts also recently commented on COR. Evercore set a $360.00 price objective on shares of Cencora in a research note on Wednesday, April 8th. Weiss Ratings lowered shares of Cencora from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Barclays cut their price target on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Wells Fargo & Company decreased their price objective on shares of Cencora from $429.00 to $331.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Finally, William Blair assumed coverage on shares of Cencora in a research note on Tuesday, April 28th. They set a “market perform” rating on the stock. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $367.75.

Cencora Trading Up 2.2%

Shares of NYSE:COR traded up $6.18 during trading on Wednesday, hitting $287.28. 549,312 shares of the company’s stock were exchanged, compared to its average volume of 1,534,117. Cencora has a 1-year low of $244.82 and a 1-year high of $377.54. The firm has a 50-day moving average price of $282.77 and a two-hundred day moving average price of $323.17. The company has a current ratio of 0.95, a quick ratio of 0.59 and a debt-to-equity ratio of 3.40. The firm has a market cap of $55.89 billion, a P/E ratio of 22.03, a PEG ratio of 1.46 and a beta of 0.59.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $4.75 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($0.07). Cencora had a net margin of 0.78% and a return on equity of 135.20%. The company had revenue of $78.36 billion during the quarter, compared to the consensus estimate of $81.09 billion. During the same quarter in the prior year, the company posted $4.42 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. Equities analysts predict that Cencora will post 17.79 earnings per share for the current year.

Cencora announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of COR. AustralianSuper Pty Ltd bought a new stake in shares of Cencora during the third quarter worth about $26,191,000. Chilton Investment Co. Inc. acquired a new position in shares of Cencora in the third quarter valued at approximately $459,000. Nordea Investment Management AB raised its holdings in Cencora by 3.8% in the 4th quarter. Nordea Investment Management AB now owns 1,256,356 shares of the company’s stock valued at $426,715,000 after buying an additional 45,712 shares during the last quarter. Assetmark Inc. raised its holdings in Cencora by 57.0% in the 4th quarter. Assetmark Inc. now owns 67,281 shares of the company’s stock valued at $22,724,000 after buying an additional 24,431 shares during the last quarter. Finally, Groupama Asset Managment acquired a new stake in Cencora during the 3rd quarter worth approximately $1,225,000. Institutional investors own 97.52% of the company’s stock.

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.