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

Cencora (NYSE:COR) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $382.00 to $390.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 20.69% from the company’s previous close.

Other research analysts also recently issued research reports about the company. William Blair began coverage on Cencora in a report on Tuesday, April 28th. They issued a “market perform” rating for the company. UBS Group upped their target price on Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings cut Cencora from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 30th. Robert W. Baird set a $370.00 price target on shares of Cencora in a research report on Thursday. Finally, Barclays dropped their price target on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $368.58.

Cencora Trading Down 0.6%

COR traded down $1.86 on Friday, reaching $323.15. 290,623 shares of the company’s stock were exchanged, compared to its average volume of 1,537,131. Cencora has a twelve month low of $244.82 and a twelve month high of $377.54. The company’s 50 day moving average is $292.86 and its 200-day moving average is $314.37. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.59 and a current ratio of 0.93. The company has a market cap of $62.87 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 1.76 and a beta of 0.57.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The company had revenue of $84.75 billion for the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.00 earnings per share. Equities analysts predict that Cencora will post 17.8 earnings per share for the current year.

Cencora declared that its board has approved a stock buyback plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Cencora

In related news, Director Lauren M. Tyler purchased 550 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the transaction, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in COR. Vanguard Group Inc. lifted its stake in Cencora by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock valued at $7,976,681,000 after buying an additional 221,570 shares during the last quarter. State Street Corp increased its holdings in shares of Cencora by 1.3% in the 4th quarter. State Street Corp now owns 9,305,507 shares of the company’s stock worth $3,142,935,000 after acquiring an additional 115,191 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Cencora by 160.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after acquiring an additional 4,123,795 shares during the period. Geode Capital Management LLC lifted its position in Cencora by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock valued at $1,843,268,000 after purchasing an additional 169,055 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Cencora by 6.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock valued at $1,682,859,000 after purchasing an additional 304,760 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Company Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.