Cencora (NYSE:COR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cencora (NYSE:COR) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $289.00 to $301.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 21.15% from the company’s previous close.

Several other analysts have also recently weighed in on COR. UBS Group lifted their price objective on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird lifted their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Evercore ISI boosted their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays raised their price objective on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company cut their target price on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average price target of $277.00.

Cencora Stock Up 0.2 %

COR stock opened at $248.45 on Friday. Cencora has a fifty-two week low of $214.77 and a fifty-two week high of $253.27. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The stock has a market capitalization of $48.02 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 1.54 and a beta of 0.49. The business’s fifty day moving average price is $237.51 and its two-hundred day moving average price is $234.75.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the sale, the chairman now owns 306,752 shares in the company, valued at $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,187 shares of company stock valued at $17,790,912. 15.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cencora

Institutional investors and hedge funds have recently bought and sold shares of the company. Concord Wealth Partners bought a new stake in shares of Cencora during the third quarter worth about $30,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in Cencora by 85.2% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after acquiring an additional 69 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Cencora in the 3rd quarter valued at approximately $41,000. Modus Advisors LLC bought a new position in shares of Cencora during the fourth quarter valued at $54,000. Finally, Carolina Wealth Advisors LLC lifted its holdings in shares of Cencora by 366.7% during the third quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock worth $60,000 after purchasing an additional 209 shares during the period. 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.