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

Cencora (NYSE:COR) had its price objective increased by analysts at Wells Fargo & Company from $251.00 to $274.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 6.17% from the stock’s current price.

COR has been the subject of several other research reports. Mizuho assumed coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. Evercore ISI increased their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. increased their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.20.

Cencora Stock Up 0.8 %

Shares of COR opened at $258.09 on Friday. The company has a 50-day simple moving average of $247.59 and a 200-day simple moving average of $239.13. The firm has a market capitalization of $50.05 billion, a P/E ratio of 36.71, a P/E/G ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. Cencora has a 52 week low of $214.77 and a 52 week high of $263.70.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, equities research analysts expect that Cencora will post 15.37 earnings per share for the current year.

Insider Activity

In other news, CEO Robert P. Mauch sold 4,970 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the sale, the chief executive officer now directly owns 51,070 shares of the company’s stock, valued at $13,022,850. This represents a 8.87 % 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, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the sale, the executive vice president now directly owns 15,374 shares in the company, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,648 shares of company stock valued at $3,382,462 over the last three months. 10.80% of the stock is owned by insiders.

Institutional Trading of Cencora

Hedge funds have recently modified their holdings of the stock. JFS Wealth Advisors LLC boosted its stake in Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 46 shares during the last quarter. Banque Transatlantique SA acquired a new stake in Cencora in the fourth quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in Cencora in the fourth quarter worth $30,000. Householder Group Estate & Retirement Specialist LLC raised its holdings in Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares during the period. Finally, Kentucky Trust Co acquired a new stake in Cencora in the fourth quarter worth $33,000. 97.52% of the stock is 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.