Morgan Stanley Reiterates $330.00 Price Target for Cencora (NYSE:COR)

Cencora (NYSE:COR) has been assigned a $330.00 price target by Morgan Stanley in a research note issued to investors on Wednesday, MarketBeat reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 11.96% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. UBS Group lifted their target price on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Citigroup lifted their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Wells Fargo & Company upgraded shares of Cencora from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Bank of America lifted their price target on shares of Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Finally, Robert W. Baird boosted their target price on shares of Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.83.

Cencora Stock Up 0.0%

NYSE COR traded up $0.09 during trading hours on Wednesday, reaching $294.74. 29,832 shares of the company’s stock traded hands, compared to its average volume of 1,500,861. Cencora has a 52-week low of $218.65 and a 52-week high of $309.35. The firm has a market cap of $57.13 billion, a PE ratio of 34.39, a PEG ratio of 1.47 and a beta of 0.57. The firm has a 50-day simple moving average of $292.09 and a 200 day simple moving average of $270.94. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.07 by $0.35. The business had revenue of $75.50 billion during the quarter, compared to analysts’ expectations of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.80 earnings per share. Sell-side analysts anticipate that Cencora will post 15.37 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 14,579 shares of the company’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the sale, the chairman owned 311,913 shares of the company’s stock, valued at $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert P. Mauch sold 4,969 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the sale, the chief executive officer owned 47,582 shares of the company’s stock, valued at $13,766,900.06. This trade represents a 9.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,127 shares of company stock worth $9,812,296. 10.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC grew its position in Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after purchasing an additional 48 shares during the last quarter. Hoey Investments Inc. purchased a new stake in Cencora during the 1st quarter worth approximately $28,000. Costello Asset Management INC purchased a new stake in Cencora during the 1st quarter worth approximately $28,000. Banque Transatlantique SA acquired a new stake in Cencora during the 4th quarter valued at approximately $29,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Cencora during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

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.