Cencora (NYSE:COR) Given New $280.00 Price Target at Citigroup

Cencora (NYSE:COR) had its price objective increased by investment analysts at Citigroup from $265.00 to $280.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 17.11% from the stock’s previous close.

COR has been the topic of a number of other research reports. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 1st. Barclays started coverage on shares of Cencora in a report on Wednesday, January 3rd. They set an “overweight” rating and a $242.00 target price on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Cencora in a report on Monday, February 26th. Mizuho boosted their target price on shares of Cencora from $192.00 to $224.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Finally, SVB Leerink began coverage on shares of Cencora in a report on Monday, February 26th. They set an “outperform” rating and a $261.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $224.40.

Cencora Stock Performance

Shares of NYSE:COR traded down $0.83 during mid-day trading on Tuesday, reaching $239.10. The company had a trading volume of 173,992 shares, compared to its average volume of 1,238,554. The company has a current ratio of 0.88, a quick ratio of 0.52 and a debt-to-equity ratio of 3.94. The firm has a market cap of $47.70 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 1.84 and a beta of 0.45. The company’s 50-day moving average price is $238.72 and its 200-day moving average price is $218.20. Cencora has a one year low of $163.37 and a one year high of $246.75.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, January 31st. The company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.42. Cencora had a net margin of 0.69% and a return on equity of 323.23%. The business had revenue of $72.25 billion for the quarter, compared to analysts’ expectations of $68.81 billion. During the same quarter in the previous year, the firm posted $2.71 EPS. As a group, equities research analysts anticipate that Cencora will post 13.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Gina Clark sold 1,100 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $230.48, for a total value of $253,528.00. Following the completion of the transaction, the executive vice president now directly owns 24,802 shares in the company, valued at $5,716,364.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Gina Clark sold 1,100 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $230.48, for a total value of $253,528.00. Following the completion of the transaction, the executive vice president now directly owns 24,802 shares in the company, valued at $5,716,364.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the completion of the sale, the insider now directly owns 26,277,561 shares of the company’s stock, valued at $6,186,000,635.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,288,790 shares of company stock worth $1,009,641,379. Corporate insiders own 15.80% of the company’s stock.

Institutional Trading of Cencora

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC bought a new stake in Cencora in the first quarter valued at approximately $25,000. Legacy Bridge LLC bought a new position in shares of Cencora during the first quarter valued at approximately $27,000. WASHINGTON TRUST Co bought a new position in shares of Cencora during the first quarter valued at approximately $32,000. Hanson & Doremus Investment Management bought a new position in shares of Cencora during the first quarter valued at approximately $33,000. Finally, CVA Family Office LLC bought a new position in shares of Cencora during the first quarter valued at approximately $34,000. Institutional investors own 97.52% of the company’s stock.

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.