Barclays Forecasts Strong Price Appreciation for Cencora (NYSE:COR) Stock

Cencora (NYSE:COR) had its target price lifted by investment analysts at Barclays from $263.00 to $290.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 18.18% from the stock’s current price.

Several other research firms have also weighed in on COR. Evercore ISI raised their target price on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Wells Fargo & Company increased their price target on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Bank of America restated a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Finally, Leerink Partners lowered their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.67.

Cencora Stock Up 4.9 %

Shares of Cencora stock opened at $245.38 on Thursday. The stock has a 50-day simple moving average of $231.57 and a 200-day simple moving average of $230.64. Cencora has a 52-week low of $191.11 and a 52-week high of $247.66. The firm has a market cap of $48.35 billion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 1.49 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, November 6th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.21 by $0.13. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $79.05 billion during the quarter, compared to the consensus estimate of $77.68 billion. On average, equities research analysts expect that Cencora will post 13.64 earnings per share for the current fiscal year.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the transaction, the chairman now directly owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Cencora

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. New Millennium Group LLC acquired a new stake in shares of Cencora in the 2nd quarter valued at $26,000. TCTC Holdings LLC bought a new position in Cencora during the 1st quarter valued at about $29,000. TFO Wealth Partners LLC acquired a new position in Cencora in the first quarter valued at about $30,000. MFA Wealth Advisors LLC bought a new stake in Cencora during the second quarter worth about $30,000. Finally, Concord Wealth Partners acquired a new stake in shares of Cencora during the third quarter worth approximately $30,000. 97.52% of the stock is owned by institutional investors.

About Cencora

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.