Cencora, Inc. (NYSE:COR) Shares Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 11.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,897 shares of the company’s stock after purchasing an additional 196 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Cencora were worth $390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in COR. New Millennium Group LLC acquired a new position in shares of Cencora during the 2nd quarter worth approximately $26,000. TCTC Holdings LLC acquired a new position in Cencora in the first quarter valued at approximately $29,000. TFO Wealth Partners LLC acquired a new position in Cencora in the first quarter valued at approximately $30,000. MFA Wealth Advisors LLC acquired a new position in Cencora in the second quarter valued at approximately $30,000. Finally, Concord Wealth Partners acquired a new position in Cencora in the third quarter valued at approximately $30,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on COR. Leerink Partners decreased their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Robert W. Baird decreased their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Wells Fargo & Company upped their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Bank of America restated a “neutral” rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.44.

Cencora Stock Up 2.7 %

Cencora stock opened at $234.27 on Monday. Cencora, Inc. has a twelve month low of $184.00 and a twelve month high of $247.66. The stock’s fifty day simple moving average is $231.39 and its 200-day simple moving average is $230.60. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The firm has a market capitalization of $46.16 billion, a P/E ratio of 25.44, a P/E/G ratio of 1.45 and a beta of 0.44.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the company’s 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 sale, the chairman now owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the transaction, the chairman now directly owns 285,088 shares in the company, valued at $67,223,750.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

Cencora 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.