Bank of America Reiterates “Neutral” Rating for Cencora (NYSE:COR)

Cencora (NYSE:COR)‘s stock had its “neutral” rating reiterated by research analysts at Bank of America in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They presently have a $245.00 target price on the stock, down from their prior target price of $275.00. Bank of America‘s price objective would suggest a potential upside of 8.14% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Leerink Partners restated an “outperform” rating and set a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. Wells Fargo & Company increased their price objective on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Robert W. Baird lowered 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, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $256.67.

Cencora Stock Performance

Shares of COR opened at $226.56 on Wednesday. The company has a 50-day moving average of $234.73 and a two-hundred day moving average of $233.18. The stock has a market cap of $45.19 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.55 and a beta of 0.44. 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 has a one year low of $178.21 and a one year high of $247.66.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. During the same quarter last year, the business posted $2.92 EPS. The company’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts expect that Cencora will post 13.63 earnings per share for the current year.

Insider Activity

In related news, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $63,323,746.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction that occurred on Tuesday, July 16th. The shares were 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 of the company’s stock, valued at $63,323,746.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799. Insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

A number of institutional investors have recently made changes to their positions in COR. Rise Advisors LLC bought a new position in Cencora in the 1st quarter worth approximately $25,000. Legacy Bridge LLC bought a new position in Cencora during the first quarter worth $27,000. New Millennium Group LLC acquired a new position in Cencora during the 2nd quarter valued at $26,000. TCTC Holdings LLC bought a new stake in Cencora in the 1st quarter valued at $29,000. Finally, TFO Wealth Partners LLC acquired a new stake in Cencora in the 1st quarter worth $30,000. 97.52% of the stock is currently owned by institutional investors.

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.