Cencora (NYSE:COR) Upgraded by Royal Bank Of Canada to “Hold” Rating

Cencora (NYSE:COR) was upgraded by analysts at Royal Bank Of Canada to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

COR has been the subject of several other research reports. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. lifted their target price on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. UBS Group boosted their target price on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company increased their price target on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $370.85.

Cencora Price Performance

COR stock opened at $316.78 on Wednesday. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The company’s fifty day moving average price is $301.20 and its 200-day moving average price is $312.16. Cencora has a one year low of $244.82 and a one year high of $377.54. The company has a market capitalization of $60.45 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 1.81 and a beta of 0.57.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. The company had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. Cencora’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company posted $4.00 earnings per share. On average, equities analysts anticipate that Cencora will post 17.87 EPS for the current fiscal year.

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

Insider Buying and Selling at Cencora

In other Cencora news, Director Lauren M. Tyler bought 550 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the transaction, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in COR. Kemnay Advisory Services Inc. purchased a new stake in Cencora during the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. bought a new stake in shares of Cencora in the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new position in shares of Cencora in the 4th quarter worth approximately $27,000. Archer Investment Corp boosted its holdings in shares of Cencora by 134.3% in the 4th quarter. Archer Investment Corp now owns 82 shares of the company’s stock worth $28,000 after purchasing an additional 47 shares during the period. Finally, Motiv8 Investments LLC bought a new position in shares of Cencora during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Company Profile

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.