Evercore ISI Trims Cencora (NYSE:COR) Target Price to $250.00

Cencora (NYSE:COR) had its price objective dropped by research analysts at Evercore ISI from $270.00 to $250.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price objective points to a potential upside of 13.62% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on COR. Leerink Partners reduced their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday. Bank of America reaffirmed a “neutral” rating and set a $245.00 price objective (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. JPMorgan Chase & Co. lifted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Robert W. Baird lowered their price objective on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.44.

Cencora Price Performance

Shares of Cencora stock traded up $0.54 during trading on Tuesday, reaching $220.04. The company’s stock had a trading volume of 422,590 shares, compared to its average volume of 1,410,643. The business has a 50 day moving average price of $234.45 and a 200-day moving average price of $231.91. Cencora has a 12-month low of $182.62 and a 12-month high of $247.66. The company has a market capitalization of $43.89 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.58 and a beta of 0.44. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. During the same period in the prior year, the company posted $2.92 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Cencora will post 13.63 EPS for the current year.

Insider Buying and Selling

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $63,323,746.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $63,323,746.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,450,399 shares of company stock worth $1,070,392,799. 15.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in COR. Vanguard Group Inc. acquired a new stake in Cencora during the fourth quarter worth about $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new position in Cencora in the first quarter valued at approximately $2,183,619,000. JPMorgan Chase & Co. acquired a new position in Cencora during the first quarter valued at approximately $1,199,695,000. Boston Partners purchased a new stake in Cencora during the first quarter worth approximately $1,001,269,000. Finally, Capital Research Global Investors acquired a new stake in shares of Cencora in the first quarter worth $650,424,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

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.