Cencora (NYSE:COR) Given New $251.00 Price Target at Wells Fargo & Company

Cencora (NYSE:COR) had its price objective hoisted by Wells Fargo & Company from $237.00 to $251.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 2.91% from the stock’s previous close.

Several other brokerages have also weighed in on COR. Barclays increased their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Mizuho began coverage on Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. JPMorgan Chase & Co. upped their price objective 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 lifted their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Leerink Partners dropped their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and an average price target of $278.40.

Cencora Stock Up 1.0 %

COR opened at $258.54 on Wednesday. Cencora has a twelve month low of $214.77 and a twelve month high of $261.25. The company’s 50-day moving average price is $238.56 and its two-hundred day moving average price is $235.60. The stock has a market cap of $49.97 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 1.54 and a beta of 0.49. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84.

Insider Buying and Selling

In other news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the sale, the executive vice president now owns 20,329 shares in the company, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the transaction, the chairman now owns 326,557 shares in the company, valued at approximately $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,187 shares of company stock worth $17,790,912. Corporate insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in Cencora by 3.8% during the third quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after purchasing an additional 291,867 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after buying an additional 338,452 shares in the last quarter. Geode Capital Management LLC lifted its position in Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after buying an additional 189,054 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Cencora by 6.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock worth $495,249,000 after buying an additional 138,868 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Cencora by 21.7% during the third quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after acquiring an additional 292,600 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

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.