Cencora (NYSE:COR) Rating Increased to Buy at StockNews.com

Cencora (NYSE:COR - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Wednesday.

A number of other analysts have also recently weighed in on the company. Evercore ISI raised their price target on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. raised their price target on Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Mizuho began coverage on Cencora in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on Cencora from $237.00 to $251.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $277.90.

Cencora Stock Down 0.3 %

Shares of NYSE COR opened at $260.87 on Wednesday. The stock has a market cap of $50.59 billion, a P/E ratio of 37.11, a PEG ratio of 1.31 and a beta of 0.51. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora has a 12-month low of $214.77 and a 12-month high of $263.70. The business's fifty day simple moving average is $245.81 and its 200-day simple moving average is $238.70.

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Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, equities analysts predict that Cencora will post 15.37 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction, the executive vice president now 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 filing with the SEC, which is available through this link. Also, CAO Lazarus Krikorian sold 2,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at approximately $5,241,249.24. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,648 shares of company stock valued at $3,382,462 over the last quarter. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cencora

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JFS Wealth Advisors LLC boosted its holdings in Cencora by 63.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock valued at $27,000 after purchasing an additional 46 shares in the last quarter. Banque Transatlantique SA purchased a new stake in Cencora in the 4th quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in Cencora in the 4th quarter valued at approximately $30,000. Kentucky Trust Co purchased a new stake in Cencora in the 4th quarter valued at approximately $33,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its holdings in Cencora by 85.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company's stock valued at $33,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other 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.

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