Cencora (NYSE:COR) Rating Increased to Buy at StockNews.com

Cencora (NYSE:COR) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company boosted their price target on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Mizuho initiated coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Evercore ISI boosted their price objective on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $277.90.

Cencora Price Performance

Shares of NYSE:COR opened at $260.87 on Wednesday. The business’s 50 day simple moving average is $245.81 and its 200-day simple moving average is $238.70. The firm has a market capitalization of $50.59 billion, a price-to-earnings ratio of 37.11, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora has a 12 month low of $214.77 and a 12 month high of $263.70.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, equities analysts forecast that Cencora will post 15.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Lazarus Krikorian sold 2,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the transaction, the chief accounting officer now owns 20,154 shares in the company, valued at approximately $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the transaction, the executive vice president now owns 20,329 shares in the company, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,648 shares of company stock worth $3,382,462. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Cencora

Several hedge funds and other institutional investors have recently bought and sold shares of COR. Norges Bank bought a new stake in Cencora in the fourth quarter valued at about $478,309,000. Pacer Advisors Inc. increased its holdings in Cencora by 6,855.3% in the third 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 during the last quarter. Bank of America Corp DE increased its holdings in Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock valued at $1,166,944,000 after buying an additional 1,994,256 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Cencora in the fourth quarter valued at about $399,508,000. Finally, Raymond James Financial Inc. bought a new stake in Cencora in the fourth quarter valued at about $322,460,000. 97.52% of the stock is 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.