Cencora (NYSE:COR) Stock Rating Lowered by Wall Street Zen

Cencora (NYSE:COR) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other research firms also recently issued reports on COR. Evercore ISI set a $340.00 price target on shares of Cencora in a research note on Wednesday. Wells Fargo & Company lifted their price objective on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Weiss Ratings restated a “buy (b)” rating on shares of Cencora in a report on Wednesday, October 8th. Jefferies Financial Group lifted their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a report on Monday, June 30th. Finally, Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $320.00.

Cencora Price Performance

Cencora stock opened at $318.01 on Friday. The company’s 50 day simple moving average is $296.99 and its 200-day simple moving average is $291.87. The company has a market capitalization of $61.66 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. Cencora has a 1 year low of $221.95 and a 1 year high of $319.68. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.34 EPS. As a group, equities research analysts expect that Cencora will post 15.37 earnings per share for the current year.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the transaction, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. The trade was a 11.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman owned 305,913 shares of the company’s stock, valued at $88,671,942.18. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,993 shares of company stock valued at $16,292,923 in the last quarter. 10.80% of the stock is currently owned by company insiders.

Institutional Trading of Cencora

Several institutional investors have recently modified their holdings of COR. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Cencora by 70.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock worth $25,000 after buying an additional 35 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after buying an additional 48 shares during the last quarter. Hoey Investments Inc. purchased a new stake in shares of Cencora during the 1st quarter worth approximately $28,000. Costello Asset Management INC purchased a new stake in shares of Cencora during the 1st quarter worth approximately $28,000. Finally, Vermillion & White Wealth Management Group LLC lifted its position in shares of Cencora by 69.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 105 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. Hedge funds and other 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.