JPMorgan Chase & Co. Increases Cencora (NYSE:COR) Price Target to $287.00

Cencora (NYSE:COR) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $280.00 to $287.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 19.29% from the company’s previous close.

COR has been the topic of a number of other research reports. Robert W. Baird increased their target price on Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. SVB Leerink reiterated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. Finally, Citigroup raised their target price on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $258.63.

Cencora Price Performance

Shares of NYSE COR opened at $240.59 on Wednesday. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.53. The firm’s 50 day simple moving average is $231.75 and its 200-day simple moving average is $232.78. Cencora has a 12 month low of $171.65 and a 12 month high of $247.66. The stock has a market capitalization of $47.99 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.68 and a beta of 0.45.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. During the same quarter last year, the business earned $2.92 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. Analysts expect that Cencora will post 13.56 EPS for the current year.

Insiders Place Their Bets

In other Cencora news, EVP Gina Clark sold 27,093 shares of Cencora stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $216.07, for a total transaction of $5,853,984.51. Following the transaction, the executive vice president now directly owns 15,158 shares of the company’s stock, valued at $3,275,189.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the transaction, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gina Clark sold 27,093 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $216.07, for a total transaction of $5,853,984.51. Following the completion of the sale, the executive vice president now owns 15,158 shares in the company, valued at $3,275,189.06. The disclosure for this sale can be found here. Insiders sold 4,479,366 shares of company stock valued at $1,076,666,297 in the last three months. 15.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cencora

A number of institutional investors have recently made changes to their positions in COR. Financial Advocates Investment Management lifted its holdings in shares of Cencora by 4.7% in the 2nd quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after acquiring an additional 44 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Cencora by 2.2% during the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after buying an additional 48 shares during the period. Valeo Financial Advisors LLC grew its stake in shares of Cencora by 3.4% in the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $353,000 after buying an additional 51 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Cencora by 4.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,147 shares of the company’s stock valued at $258,000 after buying an additional 52 shares during the period. Finally, Barlow Wealth Partners Inc. lifted its stake in Cencora by 5.4% during the 2nd quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock worth $303,000 after acquiring an additional 68 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

About Cencora

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.