Cencora (NYSE:COR) Price Target Raised to $395.00

Cencora (NYSE:COR) had its price objective upped by analysts at Wells Fargo & Company from $331.00 to $395.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 21.85% from the company’s current price.

Several other equities analysts also recently issued reports on COR. Evercore reissued an “outperform” rating and set a $350.00 price target on shares of Cencora in a report on Thursday. Robert W. Baird set a $370.00 target price on shares of Cencora in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Finally, Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research note on Saturday. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $374.25.

Cencora Stock Up 1.2%

NYSE:COR opened at $324.17 on Tuesday. The firm has a market capitalization of $63.07 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 1.84 and a beta of 0.57. The stock has a 50 day moving average of $295.07 and a 200-day moving average of $313.94. Cencora has a 52 week low of $244.82 and a 52 week high of $377.54. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The business had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. During the same quarter last year, the business posted $4.00 EPS. The business’s revenue was up 5.1% on a year-over-year basis. Analysts predict that Cencora will post 17.83 EPS for the current year.

Cencora declared that its board has authorized a stock repurchase program on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other Cencora news, Director Lauren M. Tyler bought 550 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the transaction, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This represents a 14.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Cencora

Large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Cencora in the 2nd quarter valued at approximately $5,154,136,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Cencora by 160.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after buying an additional 4,123,795 shares during the last quarter. Norges Bank bought a new stake in shares of Cencora in the 4th quarter valued at approximately $822,506,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Cencora during the second quarter valued at approximately $483,772,000. Finally, Marshall Wace LLP grew its position in Cencora by 518.9% in the third quarter. Marshall Wace LLP now owns 1,995,118 shares of the company’s stock worth $623,534,000 after acquiring an additional 1,672,762 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.