Cencora (NYSE:COR) Stock Price Expected to Rise, Leerink Partners Analyst Says

Cencora (NYSE:COR) had its target price upped by research analysts at Leerink Partners from $380.00 to $388.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price objective suggests a potential upside of 21.42% from the stock’s current price.

COR has been the topic of several other reports. Citigroup restated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $330.00 target price on shares of Cencora in a research note on Tuesday, September 8th. JPMorgan Chase & Co. upped their target price on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. UBS Group lifted their price target on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Bank of America boosted their price objective on shares of Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $372.07.

Cencora Price Performance

Shares of COR traded up $3.18 during mid-day trading on Wednesday, reaching $319.55. 298,657 shares of the company’s stock were exchanged, compared to its average volume of 1,482,011. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The company has a 50-day simple moving average of $318.12 and a two-hundred day simple moving average of $302.86. Cencora has a 52-week low of $244.82 and a 52-week high of $377.54. The company has a market cap of $60.98 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.62 and a beta of 0.58.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Cencora

Institutional investors have recently bought and sold shares of the stock. Steph & Co. boosted its position in shares of Cencora by 23.5% during the 1st quarter. Steph & Co. now owns 168 shares of the company’s stock valued at $53,000 after purchasing an additional 32 shares in the last quarter. Cornerstone Wealth Group LLC boosted its holdings in Cencora by 1.6% during the first quarter. Cornerstone Wealth Group LLC now owns 2,434 shares of the company’s stock worth $760,000 after buying an additional 38 shares in the last quarter. OLD National Bancorp IN boosted its holdings in Cencora by 0.4% during the first quarter. OLD National Bancorp IN now owns 9,964 shares of the company’s stock worth $3,130,000 after buying an additional 40 shares in the last quarter. Staley Capital Advisers Inc. grew its position in Cencora by 0.7% in the first quarter. Staley Capital Advisers Inc. now owns 6,127 shares of the company’s stock worth $1,925,000 after buying an additional 40 shares during the last quarter. Finally, Elmwood Wealth Management Inc. increased its holdings in shares of Cencora by 0.9% in the second quarter. Elmwood Wealth Management Inc. now owns 4,314 shares of the company’s stock valued at $1,221,000 after buying an additional 40 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.