Cencora (NYSE:COR) Price Target Raised to $285.00 at Bank of America

Cencora (NYSE:COR - Get Free Report) had its price objective increased by equities research analysts at Bank of America from $270.00 to $285.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's target price points to a potential upside of 0.28% from the stock's previous close.

Other research analysts have also issued reports about the company. Wells Fargo & Company increased their price objective on Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. StockNews.com upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Evercore ISI upped their price objective on shares of Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. increased their price target on Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Cencora has a consensus rating of "Moderate Buy" and a consensus target price of $284.20.

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Cencora Stock Performance

Shares of COR stock traded down $0.12 during mid-day trading on Friday, reaching $284.21. The stock had a trading volume of 1,215,027 shares, compared to its average volume of 1,508,175. The firm has a market cap of $55.11 billion, a PE ratio of 40.43, a P/E/G ratio of 1.31 and a beta of 0.55. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora has a one year low of $214.77 and a one year high of $296.65. The firm's 50 day simple moving average is $260.27 and its 200 day simple moving average is $245.16.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping analysts' consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, analysts forecast that Cencora will post 15.37 EPS for the current year.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total value of $3,928,916.78. Following the completion of the sale, the chairman now directly owns 317,913 shares of the company's stock, valued at $85,680,732.63. This represents a 4.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Lazarus Krikorian sold 2,000 shares of Cencora stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at $5,241,249.24. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,675 shares of company stock valued at $8,034,778. 10.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cencora

Several hedge funds have recently bought and sold shares of COR. Regatta Capital Group LLC raised its stake in Cencora by 2.9% during the 1st quarter. Regatta Capital Group LLC now owns 9,003 shares of the company's stock worth $2,504,000 after buying an additional 253 shares during the period. Daymark Wealth Partners LLC bought a new position in shares of Cencora during the 1st quarter valued at about $226,000. Range Financial Group LLC grew its position in shares of Cencora by 14.6% in the 1st quarter. Range Financial Group LLC now owns 10,447 shares of the company's stock valued at $2,905,000 after purchasing an additional 1,333 shares during the period. Greystone Financial Group LLC increased its stake in Cencora by 4.1% during the 1st quarter. Greystone Financial Group LLC now owns 3,389 shares of the company's stock worth $942,000 after purchasing an additional 134 shares in the last quarter. Finally, Park Avenue Securities LLC raised its holdings in Cencora by 8.5% during the 1st quarter. Park Avenue Securities LLC now owns 12,679 shares of the company's stock worth $3,526,000 after buying an additional 989 shares during the period. 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.