JPMorgan Chase & Co. Issues Positive Forecast for Cencora (NYSE:COR) Stock Price

Cencora (NYSE:CORGet Free Report) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $289.00 to $301.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 21.15% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on COR. Barclays increased their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Leerink Partners decreased their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Evercore ISI boosted their price objective on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Mizuho assumed coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $277.00.

View Our Latest Stock Analysis on Cencora

Cencora Stock Performance

Shares of COR stock opened at $248.45 on Friday. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. Cencora has a one year low of $214.77 and a one year high of $253.27. The business’s 50 day simple moving average is $237.51 and its 200 day simple moving average is $234.75. The stock has a market capitalization of $48.02 billion, a PE ratio of 33.08, a PEG ratio of 1.54 and a beta of 0.49.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares of the company’s stock, valued at $79,670,111.29. The trade was a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,187 shares of company stock worth $17,790,912 in the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

Several institutional investors and hedge funds have recently modified their holdings of the stock. Insight Wealth Strategies LLC grew its holdings in Cencora by 124.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock worth $4,549,000 after buying an additional 11,232 shares in the last quarter. Cerity Partners LLC boosted its holdings in Cencora by 10.1% during the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock worth $8,881,000 after acquiring an additional 3,610 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Cencora by 71.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company’s stock valued at $1,583,000 after purchasing an additional 2,928 shares during the last quarter. Portfolio Design Labs LLC bought a new position in shares of Cencora during the third quarter valued at about $1,404,000. Finally, Mackenzie Financial Corp boosted its holdings in Cencora by 9.9% during the second quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock worth $18,250,000 after purchasing an additional 7,266 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Cencora (NYSE:COR)

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