Analyst Michael Cherny from Leerink Partners reiterated a Buy rating on Cencora (COR – Research Report) and keeping the price target at $301.00.
Michael Cherny has given his Buy rating due to a combination of factors that highlight Cencora’s robust performance and strategic positioning. The company has consistently increased its guidance, reflecting the underlying strength of its core operations. This trend is supported by solid earnings per share contributions from strategic capital deployment, including acquisitions and share buybacks.
Furthermore, Cencora’s growth in the US Healthcare Solutions segment aligns with the overall strength of the pharmaceutical distribution market, particularly in specialty areas where Cencora holds a strong position. This momentum in the US Healthcare Solutions is a key driver of the company’s positive outlook, reinforcing the Buy rating as the firm continues to capitalize on market opportunities.
Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COR in relation to earlier this year.