Cencora (NYSE:COR) Price Target Cut to $237.00 by Analysts at Wells Fargo & Company

Cencora (NYSE:COR) had its target price dropped by investment analysts at Wells Fargo & Company from $249.00 to $237.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 2.05% from the company’s current price.

A number of other research analysts have also commented on the stock. Robert W. Baird lifted their price objective on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Leerink Partners dropped their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Evercore ISI boosted their target price on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Barclays increased their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus target price of $275.60.

Cencora Stock Performance

Shares of Cencora stock opened at $232.24 on Friday. The firm’s fifty day simple moving average is $238.36 and its 200-day simple moving average is $234.04. Cencora has a 12 month low of $195.83 and a 12 month high of $253.27. The stock 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. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the transaction, the chairman now directly owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 93,018 shares of company stock valued at $22,478,942. Corporate insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

Several large investors have recently bought and sold shares of COR. State Street Corp increased its holdings in Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after acquiring an additional 291,867 shares in the last quarter. Wellington Management Group LLP increased its position 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 buying an additional 338,452 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cencora by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after acquiring an additional 189,054 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of 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 acquiring an additional 2,035,679 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Cencora by 3.7% in the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock valued at $422,538,000 after acquiring an additional 67,287 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

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.