Cencora (NYSE:COR) Given New $280.00 Price Target at Evercore ISI

Cencora (NYSE:COR) had its price objective lifted by analysts at Evercore ISI from $270.00 to $280.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 13.05% from the stock’s current price.

COR has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective 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. Mizuho started coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target on the stock. Robert W. Baird boosted their target price on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their price target on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Finally, UBS Group upped their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and an average price target of $277.90.

Cencora Price Performance

Shares of NYSE COR traded down $5.61 during mid-day trading on Thursday, hitting $247.67. 309,255 shares of the company’s stock traded hands, compared to its average volume of 1,331,742. The company has a market capitalization of $47.87 billion, a P/E ratio of 33.03, a PEG ratio of 1.59 and a beta of 0.49. Cencora has a 1 year low of $214.77 and a 1 year high of $262.26. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The company’s 50-day moving average is $239.08 and its two-hundred day moving average is $236.51.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 266.62% and a net margin of 0.51%. On average, equities analysts anticipate that Cencora will post 15.32 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the transaction, the chairman now directly owns 306,752 shares of the company’s stock, valued at $74,283,064.32. The trade was a 6.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,187 shares of company stock worth $17,790,912. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cencora

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COR. State Street Corp grew its position in shares of Cencora by 3.8% in the third quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after purchasing an additional 291,867 shares in the last quarter. Wellington Management Group LLP grew its holdings in Cencora by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after buying an additional 338,452 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after acquiring an additional 189,054 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Cencora by 6.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock worth $495,249,000 after acquiring an additional 138,868 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after acquiring an additional 292,600 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

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.