Cencora (NYSE:COR) Given New $274.00 Price Target at Wells Fargo & Company

Cencora (NYSE:COR) had its price objective raised by equities research analysts at Wells Fargo & Company from $251.00 to $274.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 7.25% from the company’s previous close.

Several other equities research analysts have also commented on COR. Mizuho began 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. Evercore ISI increased their price target on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.20.

Cencora Trading Down 0.2 %

Cencora stock traded down $0.53 during mid-day trading on Friday, hitting $255.49. 69,984 shares of the stock were exchanged, compared to its average volume of 1,352,499. The stock has a market capitalization of $49.54 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 1.31 and a beta of 0.51. Cencora has a 12 month low of $214.77 and a 12 month high of $263.70. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm’s fifty day simple moving average is $247.01 and its two-hundred day simple moving average is $238.93.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping 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%. Analysts forecast that Cencora will post 15.37 EPS for the current year.

Insider Transactions at Cencora

In related news, 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 transaction, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the sale, the chief accounting officer now owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,648 shares of company stock valued at $3,382,462 over the last three months. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Cencora in the 4th quarter worth about $478,309,000. Pacer Advisors Inc. boosted its stake in 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 during the last quarter. Bank of America Corp DE boosted its stake in Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock valued at $1,166,944,000 after acquiring an additional 1,994,256 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Cencora during the 4th quarter valued at approximately $399,508,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Cencora during the 4th quarter worth approximately $322,460,000. Hedge funds and other institutional investors 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.