Royal Bank Of Canada Reaffirms “Sector Perform” Rating for Cencora (NYSE:COR)

Cencora (NYSE:COR)‘s stock had its “sector perform” rating reiterated by equities researchers at Royal Bank Of Canada in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $330.00 target price on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 1.16% from the company’s current price.

Several other research firms also recently weighed in on COR. Citigroup reiterated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Bank of America upped their price target on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Wells Fargo & Company raised their price target on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. UBS Group lifted their price objective on Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Morgan Stanley boosted their price objective on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $370.85.

Cencora Trading Down 1.4%

COR stock traded down $4.73 during mid-day trading on Tuesday, hitting $326.22. 173,960 shares of the company were exchanged, compared to its average volume of 1,501,293. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The firm has a market capitalization of $62.25 billion, a P/E ratio of 24.30, a PEG ratio of 1.88 and a beta of 0.57. The business has a fifty day simple moving average of $313.30 and a 200-day simple moving average of $309.32. Cencora has a 12-month low of $244.82 and a 12-month high of $377.54.

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

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

Insider Buying and Selling

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the purchase, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. This represents a 36.74% decrease in their position. The SEC filing for this sale provides additional information. 0.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of COR. Kemnay Advisory Services Inc. purchased a new stake in Cencora during the 4th quarter worth about $25,000. Elyxium Wealth LLC purchased a new position in shares of Cencora in the 4th quarter valued at about $27,000. Motiv8 Investments LLC purchased a new position in shares of Cencora in the 4th quarter valued at about $29,000. Basepoint Wealth LLC acquired a new position in shares of Cencora during the fourth quarter worth about $32,000. Finally, Elevation Wealth Partners LLC grew its position in shares of Cencora by 506.2% during the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after buying an additional 81 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

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.