Cencora (NYSE:COR) PT Lowered to $250.00

by · The Markets Daily

Cencora (NYSE:COR – Get Free Report) had its price objective dropped by stock analysts at Evercore ISI from $270.00 to $250.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 13.03% from the company’s current price.

Other analysts also recently issued reports about the company. Leerink Partners lowered their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday. Wells Fargo & Company raised their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Bank of America reissued a “neutral” rating and issued a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Finally, Robert W. Baird cut their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $259.44.

Check Out Our Latest Research Report on Cencora

Cencora Stock Performance

COR opened at $221.19 on Tuesday. The firm has a market cap of $44.12 billion, a P/E ratio of 24.20, a PEG ratio of 1.58 and a beta of 0.44. Cencora has a 1-year low of $182.75 and a 1-year high of $247.66. The company has a 50 day simple moving average of $233.91 and a two-hundred day simple moving average of $231.68. 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 – Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. The firm had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.92 EPS. Equities analysts forecast that Cencora will post 13.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares in the company, valued at approximately $63,323,746.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Cencora

Large investors have recently made changes to their positions in the stock. Iowa State Bank purchased a new stake in shares of Cencora in the 3rd quarter valued at $1,390,000. LVW Advisors LLC increased its stake in Cencora by 14.2% during the third quarter. LVW Advisors LLC now owns 3,666 shares of the company’s stock worth $825,000 after purchasing an additional 456 shares during the period. Tobam lifted its position in shares of Cencora by 85.7% during the third quarter. Tobam now owns 25,030 shares of the company’s stock worth $5,634,000 after purchasing an additional 11,549 shares in the last quarter. Strategic Wealth Partners Ltd. boosted its stake in shares of Cencora by 2.7% in the third quarter. Strategic Wealth Partners Ltd. now owns 23,657 shares of the company’s stock valued at $5,325,000 after purchasing an additional 624 shares during the period. Finally, Gratus Wealth Advisors LLC grew its holdings in shares of Cencora by 2.4% in the third quarter. Gratus Wealth Advisors LLC now owns 8,974 shares of the company’s stock valued at $1,970,000 after purchasing an additional 214 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Company Profile

(Get Free Report)

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.

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