Wells Fargo & Company Forecasts Strong Price Appreciation for Cencora (NYSE:COR) Stock

Cencora (NYSE:COR) had its price target hoisted by stock analysts at Wells Fargo & Company from $251.00 to $274.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 6.17% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Mizuho initiated coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a report on Wednesday. Evercore ISI boosted their target price on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. boosted their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.20.

Cencora Stock Performance

Shares of NYSE COR opened at $258.09 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The stock has a 50 day simple moving average of $247.59 and a 200-day simple moving average of $239.13. The company has a market cap of $50.05 billion, a PE ratio of 36.71, a P/E/G 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.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. On average, equities research analysts forecast that Cencora will post 15.37 EPS for the current year.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at $4,649,648.88. The trade was a 7.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert P. Mauch sold 4,970 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the transaction, the chief executive officer now owns 51,070 shares in the company, valued at approximately $13,022,850. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,648 shares of company stock valued at $3,382,462 in the last three months. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cencora

Several institutional investors and hedge funds have recently modified their holdings of the stock. JFS Wealth Advisors LLC boosted its holdings in Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 46 shares in the last quarter. Banque Transatlantique SA bought a new stake in Cencora in the fourth quarter worth $29,000. SBI Securities Co. Ltd. bought a new stake in Cencora in the fourth quarter worth $30,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. Finally, Kentucky Trust Co bought a new stake in Cencora in the fourth quarter worth $33,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

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.