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

Cencora (NYSE:COR) had its target price raised by stock analysts at JPMorgan Chase & Co. from $390.00 to $413.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 19.20% from the company’s current price.

Several other equities research analysts have also recently weighed in on COR. UBS Group reduced their price target on shares of Cencora from $430.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Leerink Partners increased their price objective on shares of Cencora from $388.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Bank of America lifted their price objective on shares of Cencora from $285.00 to $310.00 in a research note on Tuesday, July 21st. Royal Bank Of Canada restated a “sector perform” rating and issued a $330.00 target price on shares of Cencora in a report on Tuesday, September 8th. Finally, Morgan Stanley upped their target price on shares of Cencora from $346.00 to $377.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $368.14.

Cencora Price Performance

NYSE COR traded up $0.73 during trading on Tuesday, hitting $346.49. 200,964 shares of the stock traded hands, compared to its average volume of 1,470,004. The company has a quick ratio of 0.58, a current ratio of 0.94 and a debt-to-equity ratio of 3.01. Cencora has a 12-month low of $244.82 and a 12-month high of $377.54. The firm has a 50-day simple moving average of $325.56 and a 200-day simple moving average of $317.25. The company has a market capitalization of $66.12 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $4.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.08. The business had revenue of $88.35 billion for the quarter, compared to analysts’ expectations of $87.95 billion. Cencora had a return on equity of 110.72% and a net margin of 1.03%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.84 EPS. As a group, analysts predict that Cencora will post 19.58 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Elizabeth Campbell sold 11,300 shares of Cencora stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the sale, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This trade represents a 36.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Cencora during the second quarter valued at about $5,154,136,000. Bank of America Corp DE bought a new position in Cencora in the second quarter worth about $1,056,625,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Cencora in the 2nd quarter worth approximately $483,772,000. Legal & General Group Plc purchased a new position in shares of Cencora in the 2nd quarter worth approximately $339,556,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Cencora during the 2nd quarter worth approximately $313,668,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical services company that connects pharmaceutical manufacturers with healthcare providers. Its core business includes sourcing and distributing medicines and other healthcare products to pharmacies, hospitals, health systems and other care providers.

The company also provides services supporting specialty pharmaceuticals, including logistics, consulting and solutions for manufacturers and healthcare organizations. These services help manage the handling and delivery of complex medicines and support access to treatments.

Cencora serves customers in the United States and internationally.