Robert W. Baird Issues Positive Forecast for Cencora (NYSE:COR) Stock Price

Cencora (NYSE:COR) had its target price upped by Robert W. Baird from $373.00 to $375.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 10.15% from the stock’s current price.

COR has been the subject of several other reports. Argus boosted their price target on Cencora from $340.00 to $380.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Weiss Ratings upgraded Cencora from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 6th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $330.00 price target on shares of Cencora in a research note on Tuesday, September 8th. Finally, Wells Fargo & Company lifted their price target on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $366.44.

Cencora Stock Performance

Shares of NYSE COR opened at $340.43 on Thursday. The company has a 50-day simple moving average of $321.45 and a 200-day simple moving average of $303.77. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The company has a market cap of $64.96 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58. Cencora has a 12 month low of $244.82 and a 12 month high of $377.54.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The business had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. During the same quarter in the prior year, the firm posted $4.00 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Cencora will post 17.87 earnings per share for the current year.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the sale, the executive vice president directly owned 19,455 shares of the company’s stock, valued at $6,305,754.60. The trade was a 36.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in COR. BlackRock Inc. acquired a new position in Cencora in the second quarter valued at $5,154,136,000. Bank of America Corp DE acquired a new position in shares of Cencora in the 2nd quarter valued at about $1,056,625,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Cencora in the 2nd quarter valued at about $483,772,000. Legal & General Group Plc purchased a new stake in shares of Cencora during the 2nd quarter worth about $339,556,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Cencora during the 2nd quarter worth about $313,668,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Cencora

Here are the key news stories impacting Cencora this week:

• Positive Sentiment: Cencora agreed to acquire the remaining 96% stake in American Oncology Network in a transaction valued at approximately $2.4 billion. The deal would add about 350 physicians and strengthen Cencora’s support of community oncology practices, potentially expanding its provider network and oncology-related revenue opportunities. Reuters article on Cencora’s American Oncology Network acquisition
• Positive Sentiment: Argus raised its price target on COR from $340 to $380 and maintained a Buy rating, signaling confidence that the acquisition and Cencora’s broader growth prospects can support further appreciation. Argus forecast for Cencora
• Positive Sentiment: Baird increased its price target modestly from $373 to $375. In addition, 26 exchange-traded funds reportedly added to their Cencora holdings, providing a modest indication of continued institutional demand. Baird price target update
• Neutral Sentiment: The American Oncology Network transaction is strategically attractive, but investors will assess the $2.4 billion purchase price, financing, integration costs and the company’s ability to generate returns from the expanded physician platform. Becker’s report on the physician deal
• Negative Sentiment: UBS lowered its price target to $400, creating a counterpoint to the more bullish Argus and Baird revisions, although the new target remains above the recent trading level. UBS price target update

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.