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

Cencora (NYSE:COR) had its price target upped by stock analysts at Wells Fargo & Company from $237.00 to $251.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 1.71% from the company’s previous close.

COR has been the topic of several other research reports. UBS Group upped their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Robert W. Baird upped their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Evercore ISI raised their price objective on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Leerink Partners reduced their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $278.40.

Cencora Price Performance

Shares of NYSE:COR opened at $255.38 on Wednesday. Cencora has a 12 month low of $214.77 and a 12 month high of $256.81. The firm has a market capitalization of $49.36 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. The business’s 50 day simple moving average is $238.03 and its 200-day simple moving average is $235.30. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53.

Insider Activity at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents 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 link. Also, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. The trade was a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,187 shares of company stock worth $17,790,912. 15.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cencora

Institutional investors have recently added to or reduced their stakes in the company. Insight Wealth Strategies LLC lifted its stake in shares of Cencora by 124.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock valued at $4,549,000 after purchasing an additional 11,232 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Cencora by 10.1% during the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock valued at $8,881,000 after acquiring an additional 3,610 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in Cencora by 71.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company’s stock worth $1,583,000 after purchasing an additional 2,928 shares during the period. Portfolio Design Labs LLC acquired a new stake in Cencora in the 3rd quarter valued at $1,404,000. Finally, Nordea Investment Management AB raised its position in Cencora by 40.2% in the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after purchasing an additional 308,773 shares during the period. 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.