Cencora (NYSE:COR) PT Raised to $280.00

Cencora (NYSE:COR) had its price objective boosted by Citigroup from $265.00 to $280.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 17.11% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 1st. Mizuho lifted their target price on Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Leerink Partnrs reissued an “outperform” rating on shares of Cencora in a research report on Monday, February 26th. SVB Leerink assumed coverage on Cencora in a research report on Monday, February 26th. They set an “outperform” rating and a $261.00 target price on the stock. Finally, Barclays began coverage on Cencora in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $242.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and an average target price of $224.40.

Cencora Stock Performance

Shares of Cencora stock traded down $0.83 during trading on Tuesday, reaching $239.10. The company’s stock had a trading volume of 173,992 shares, compared to its average volume of 1,238,554. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.52 and a current ratio of 0.88. The business’s fifty day moving average price is $238.72 and its 200-day moving average price is $218.20. The firm has a market cap of $47.70 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 1.84 and a beta of 0.45. Cencora has a one year low of $163.37 and a one year high of $246.75.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.42. The business had revenue of $72.25 billion for the quarter, compared to analyst estimates of $68.81 billion. Cencora had a return on equity of 323.23% and a net margin of 0.69%. During the same period in the previous year, the company posted $2.71 earnings per share. As a group, equities research analysts predict that Cencora will post 13.43 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of Cencora stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the transaction, the insider now owns 26,277,561 shares of the company’s stock, valued at approximately $6,186,000,635.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Robert P. Mauch sold 57,564 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $235.09, for a total transaction of $13,532,720.76. Following the completion of the transaction, the chief operating officer now directly owns 24,412 shares in the company, valued at approximately $5,739,017.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total value of $991,639,906.95. Following the completion of the transaction, the insider now owns 26,277,561 shares of the company’s stock, valued at approximately $6,186,000,635.01. The disclosure for this sale can be found here. Insiders sold a total of 4,288,790 shares of company stock valued at $1,009,641,379 over the last ninety days. Insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

Several institutional investors and hedge funds have recently bought and sold shares of COR. Vanguard Group Inc. bought a new stake in Cencora during the fourth quarter worth about $4,212,508,000. Bank of New York Mellon Corp bought a new stake in Cencora during the first quarter worth about $291,825,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Cencora during the first quarter worth about $238,457,000. Principal Financial Group Inc. bought a new stake in Cencora during the first quarter worth about $75,916,000. Finally, Cornerstone Investment Partners LLC bought a new stake in Cencora during the first quarter worth about $73,653,000. 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.