Cencora (NYSE:COR) Given New $285.00 Price Target at Bank of America

Cencora (NYSE:COR) had its price target upped by analysts at Bank of America from $270.00 to $285.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target would indicate a potential upside of 0.19% from the company’s previous close.

COR has been the topic of several other reports. StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. upped their target price on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Evercore ISI raised their price target on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company upped their price objective on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Cencora has an average rating of “Moderate Buy” and an average price target of $284.20.

Cencora Trading Up 1.9 %

Shares of NYSE COR opened at $284.46 on Friday. Cencora has a 1-year low of $214.77 and a 1-year high of $296.65. The business has a fifty day moving average price of $260.27 and a 200 day moving average price of $245.01. The stock has a market capitalization of $55.16 billion, a P/E ratio of 40.46, a price-to-earnings-growth ratio of 1.31 and a beta of 0.55. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Equities research analysts expect that Cencora will post 15.37 EPS for the current fiscal year.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the sale, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total value of $3,928,916.78. Following the completion of the transaction, the chairman now directly owns 317,913 shares of the company’s stock, valued at $85,680,732.63. The trade was a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,675 shares of company stock worth $8,034,778 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cencora

Several large investors have recently made changes to their positions in the company. Arete Wealth Advisors LLC raised its position in shares of Cencora by 4.9% in the third quarter. Arete Wealth Advisors LLC now owns 2,412 shares of the company’s stock worth $541,000 after acquiring an additional 113 shares during the period. XTX Topco Ltd acquired a new position in Cencora in the 3rd quarter worth about $521,000. Vestcor Inc boosted its position in Cencora by 13.1% during the third quarter. Vestcor Inc now owns 3,438 shares of the company’s stock worth $774,000 after purchasing an additional 398 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in Cencora by 11.0% in the third quarter. Coldstream Capital Management Inc. now owns 3,299 shares of the company’s stock valued at $750,000 after purchasing an additional 328 shares during the period. Finally, TD Private Client Wealth LLC increased its position in shares of Cencora by 8.4% in the third quarter. TD Private Client Wealth LLC now owns 6,989 shares of the company’s stock valued at $1,573,000 after buying an additional 541 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

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.