Wells Fargo & Company Issues Pessimistic Forecast for Cencora (NYSE:COR) Stock Price

Cencora (NYSE:COR) had its price objective lowered by research analysts at Wells Fargo & Company from $249.00 to $237.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 2.05% from the company’s previous close.

A number of other analysts also recently issued reports on COR. Barclays raised their price objective on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. Evercore ISI upped their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird lifted their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.60.

Cencora Trading Up 0.1 %

Shares of Cencora stock opened at $232.24 on Friday. The stock has a 50 day moving average of $238.36 and a 200 day moving average of $234.04. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The firm has a market capitalization of $44.89 billion, a price-to-earnings ratio of 30.92, a PEG ratio of 1.54 and a beta of 0.45. Cencora has a fifty-two week low of $195.83 and a fifty-two week high of $253.27.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the transaction, the chairman now owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 93,018 shares of company stock valued at $22,478,942 over the last 90 days. 15.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp lifted its stake in Cencora by 3.8% during the third quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after purchasing an additional 291,867 shares during the last quarter. Wellington Management Group LLP raised its holdings in Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after purchasing an additional 338,452 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cencora by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after buying an additional 189,054 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Cencora by 6,855.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after buying an additional 2,035,679 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Cencora by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock valued at $422,538,000 after buying an additional 67,287 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

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.