Barclays Issues Positive Forecast for Cencora (NYSE:COR) Stock Price

Cencora (NYSE:COR) had its target price hoisted by analysts at Barclays from $263.00 to $290.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 16.74% from the company’s current price.

A number of other equities analysts also recently commented on COR. Evercore ISI lifted their price objective on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday. Robert W. Baird decreased their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. JPMorgan Chase & Co. increased their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Bank of America restated a “neutral” rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $271.20.

Cencora Stock Up 0.3 %

Shares of Cencora stock opened at $248.42 on Thursday. The business has a 50-day moving average price of $231.95 and a 200 day moving average price of $230.84. Cencora has a fifty-two week low of $191.11 and a fifty-two week high of $251.00. The firm has a market cap of $48.95 billion, a P/E ratio of 33.08, a P/E/G ratio of 1.49 and a beta of 0.44. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93.

Insider Activity

In other news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the transaction, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

Large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD acquired a new position in shares of Cencora in the first quarter worth $2,183,619,000. JPMorgan Chase & Co. purchased a new position in Cencora in the first quarter valued at about $1,199,695,000. Boston Partners acquired a new position in Cencora in the 1st quarter worth about $1,001,269,000. Capital Research Global Investors purchased a new stake in shares of Cencora during the 1st quarter worth about $650,424,000. Finally, Bessemer Group Inc. purchased a new stake in shares of Cencora during the 1st quarter worth about $556,245,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

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.