Cencora (NYSE:COR) Price Target Lowered to $283.00 at Robert W. Baird

Cencora (NYSE:COR) had its price target reduced by stock analysts at Robert W. Baird from $287.00 to $283.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 19.77% from the stock’s previous close.

COR has been the topic of a number of other reports. Wells Fargo & Company raised their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Leerink Partners restated an “outperform” rating and issued a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $258.13.

Cencora Stock Down 2.9 %

Shares of Cencora stock opened at $236.29 on Friday. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. Cencora has a 1 year low of $171.65 and a 1 year high of $247.66. The firm’s 50-day moving average is $232.08 and its two-hundred day moving average is $233.16. The stock has a market cap of $47.13 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 1.57 and a beta of 0.45.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. During the same period in the prior year, the business earned $2.92 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, research analysts expect that Cencora will post 13.61 earnings per share for the current fiscal year.

Insider Transactions at Cencora

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the transaction, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the sale, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the transaction, the insider now owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. Insiders have sold 4,450,399 shares of company stock worth $1,070,392,799 over the last 90 days. 15.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cencora

A number of large investors have recently bought and sold shares of COR. Rise Advisors LLC purchased a new stake in shares of Cencora in the first quarter valued at approximately $25,000. New Millennium Group LLC purchased a new stake in shares of Cencora in the second quarter valued at approximately $26,000. Legacy Bridge LLC purchased a new stake in shares of Cencora in the first quarter valued at approximately $27,000. TCTC Holdings LLC purchased a new stake in shares of Cencora in the first quarter valued at approximately $29,000. Finally, TFO Wealth Partners LLC purchased a new stake in shares of Cencora in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

About Cencora

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.