Cencora (NYSE:COR) Price Target Raised to $285.00 at Evercore ISI

Cencora (NYSE:COR) had its target price upped by research analysts at Evercore ISI from $250.00 to $285.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price points to a potential upside of 16.15% from the stock’s current price.

Several other analysts have also weighed in on COR. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Leerink Partners decreased their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Bank of America reiterated a “neutral” rating and issued a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Wells Fargo & Company increased their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $263.33.

Cencora Stock Performance

Shares of NYSE:COR opened at $245.38 on Thursday. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The business’s fifty day moving average price is $231.57 and its two-hundred day moving average price is $230.64. Cencora has a fifty-two week low of $191.11 and a fifty-two week high of $247.66. The stock has a market capitalization of $48.35 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.49 and a beta of 0.44.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, November 6th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.21 by $0.13. The company had revenue of $79.05 billion for the quarter, compared to the consensus estimate of $77.68 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. As a group, analysts predict that Cencora will post 13.64 EPS for the current fiscal year.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD acquired a new position in Cencora in the first quarter valued at about $2,183,619,000. JPMorgan Chase & Co. acquired a new stake in shares of Cencora in the 1st quarter valued at approximately $1,199,695,000. Boston Partners bought a new position in Cencora during the 1st quarter worth approximately $1,001,269,000. Capital Research Global Investors acquired a new position in Cencora during the first quarter valued at approximately $650,424,000. Finally, Bessemer Group Inc. bought a new stake in Cencora in the first quarter valued at approximately $556,245,000. 97.52% of the stock is currently 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.