Cencora, Inc. (NYSE:COR) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of Cencora, Inc. (NYSE:COR) have received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $368.38.

Several research analysts have recently issued reports on COR shares. Citigroup restated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Robert W. Baird upped their price objective on shares of Cencora from $373.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Bank of America upped their target price on Cencora from $285.00 to $310.00 in a research report on Tuesday, July 21st. Finally, Morgan Stanley raised their price target on Cencora from $346.00 to $377.00 and gave the stock an “overweight” rating in a research note on Friday.

Insider Activity at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the sale, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This represents a 36.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by insiders.

Institutional Trading of Cencora

A number of large investors have recently bought and sold shares of the business. Elevation Wealth Partners LLC lifted its position in Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after acquiring an additional 81 shares during the period. Bell Investment Advisors Inc acquired a new position in shares of Cencora in the second quarter valued at approximately $28,000. Caitlin John LLC acquired a new position in shares of Cencora in the second quarter valued at approximately $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Cencora during the first quarter worth approximately $35,000. Finally, Lynch Investment Planning LLC purchased a new stake in shares of Cencora during the third quarter worth approximately $39,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Price Performance

Shares of NYSE COR opened at $330.70 on Monday. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The firm has a market capitalization of $63.11 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58. The stock’s 50-day simple moving average is $323.34 and its 200-day simple moving average is $317.53.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. The firm had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.00 earnings per share. As a group, equities research analysts forecast that Cencora will post 17.87 EPS for the current fiscal year.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.