UBS Group Issues Positive Forecast for Cencora (NYSE:COR) Stock Price

by · The Markets Daily

Cencora (NYSE:COR – Get Free Report) had its target price hoisted by stock analysts at UBS Group from $275.00 to $285.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 14.59% from the company’s previous close.

A number of other research firms have also recently issued reports on COR. Wells Fargo & Company lifted their target price on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Bank of America reiterated a “neutral” rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Barclays boosted their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Leerink Partners reduced their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and an average target price of $270.30.

Get Our Latest Analysis on Cencora

Cencora Stock Up 1.4 %

COR stock traded up $3.34 during mid-day trading on Thursday, hitting $248.72. 330,323 shares of the company were exchanged, compared to its average volume of 1,404,131. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The firm has a market cap of $49.01 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.49 and a beta of 0.44. The firm’s 50 day simple moving average is $231.57 and its 200 day simple moving average is $230.64. Cencora has a 1-year low of $191.11 and a 1-year high of $250.43.

Cencora (NYSE:COR – Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.13. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $79.05 billion during the quarter, compared to analysts’ expectations of $77.68 billion. On average, sell-side analysts predict that Cencora will post 13.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 15.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cencora

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lake Street Advisors Group LLC lifted its holdings in shares of Cencora by 1.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after purchasing an additional 43 shares during the last quarter. Financial Advocates Investment Management lifted its holdings in shares of Cencora by 4.7% during the 2nd quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after purchasing an additional 44 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Cencora by 1.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after purchasing an additional 46 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in shares of Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after purchasing an additional 46 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its holdings in shares of Cencora by 2.2% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after purchasing an additional 48 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

About Cencora

(Get Free Report)

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.

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