StockNews.com Downgrades Cencora (NYSE:COR) to Hold

Cencora (NYSE:COR - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Tuesday.

A number of other research analysts also recently commented on COR. Wells Fargo & Company raised their target price on shares of Cencora from $237.00 to $251.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 29th. UBS Group raised their target price on shares of Cencora from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Robert W. Baird raised their target price on shares of Cencora from $287.00 to $292.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, Barclays lifted their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cencora has an average rating of "Moderate Buy" and an average price target of $277.90.

Cencora Trading Down 0.8 %

Shares of Cencora stock traded down $2.03 during trading on Tuesday, hitting $253.35. The stock had a trading volume of 1,707,405 shares, compared to its average volume of 1,505,253. The firm's fifty day simple moving average is $242.78 and its 200-day simple moving average is $238.09. The stock has a market cap of $49.13 billion, a PE ratio of 36.04, a PEG ratio of 1.31 and a beta of 0.49. 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 has a 12 month low of $214.77 and a 12 month high of $262.26.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping 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%. As a group, sell-side analysts expect that Cencora will post 15.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 4,970 shares of Cencora stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total value of $1,267,350.00. Following the completion of the sale, the chief executive officer now directly owns 51,070 shares in the company, valued at $13,022,850. This trade represents a 8.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction that occurred on 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 11,648 shares of company stock worth $2,862,342 in the last three months. Corporate insiders own 10.80% of the company's stock.

Institutional Trading of Cencora

Institutional investors and hedge funds have recently bought and sold shares of the business. JFS Wealth Advisors LLC increased its holdings in shares of Cencora by 63.0% during 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 worth $29,000. SBI Securities Co. Ltd. purchased a new stake in Cencora in the 4th quarter worth $30,000. Kentucky Trust Co purchased a new stake in Cencora in the 4th quarter worth $33,000. Finally, Householder Group Estate & Retirement Specialist LLC increased 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 worth $33,000 after acquiring an additional 69 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.

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