Cencora (NYSE:COR) Stock Rating Lowered by StockNews.com

Cencora (NYSE:COR) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Several other research analysts also recently weighed in on the company. Wells Fargo & Company boosted their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Robert W. Baird cut their price objective on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners reissued an “outperform” rating and set a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Finally, Bank of America restated a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.67.

Cencora Stock Performance

Shares of Cencora stock opened at $228.11 on Friday. Cencora has a one year low of $178.21 and a one year high of $247.66. The company has a market capitalization of $45.50 billion, a PE ratio of 24.96, a P/E/G ratio of 1.55 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The company has a 50-day simple moving average of $234.84 and a two-hundred day simple moving average of $233.11.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The company had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. Cencora’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.92 earnings per share. Research analysts expect that Cencora will post 13.63 EPS for the current fiscal year.

Insider Activity

In related news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 in the last quarter. 15.80% of the stock is currently owned by company insiders.

Institutional Trading of Cencora

Several institutional investors have recently bought and sold shares of COR. Vanguard Group Inc. acquired a new position in shares of Cencora during the 4th quarter worth approximately $4,212,508,000. Price T Rowe Associates Inc. MD acquired a new position in Cencora during the first quarter worth $2,183,619,000. JPMorgan Chase & Co. purchased a new position in Cencora during the first quarter valued at $1,199,695,000. Boston Partners acquired a new stake in shares of Cencora in the first quarter valued at about $1,001,269,000. Finally, Capital Research Global Investors acquired a new stake in shares of Cencora in the first quarter valued at about $650,424,000. 97.52% of the stock is owned by institutional investors and hedge funds.

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.