Cerity Partners LLC increased its position in shares of Cencora, Inc. (NYSE:COR – Free Report) by 10.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,457 shares of the company’s stock after purchasing an additional 3,610 shares during the quarter. Cerity Partners LLC’s holdings in Cencora were worth $8,881,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in COR. BOKF NA bought a new position in shares of Cencora in the first quarter valued at about $260,000. Kennedy Capital Management LLC bought a new stake in shares of Cencora during the first quarter worth $705,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Cencora during the first quarter valued at $2,194,000. Ancora Advisors LLC bought a new position in Cencora in the first quarter valued at about $867,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Cencora in the first quarter worth about $411,000. 97.52% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on COR. UBS Group raised their target price on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Evercore ISI raised their price objective on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Leerink Partners cut their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Bank of America reaffirmed a “neutral” rating and set a $245.00 price objective (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $271.20.
Insider Buying and Selling
In other news, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the transaction, the chairman now owns 326,557 shares in the company, valued at $79,670,111.29. This represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 93,018 shares of company stock valued at $22,478,942. 15.80% of the stock is owned by corporate insiders.
Cencora Stock Performance
COR stock opened at $248.40 on Wednesday. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $251.56. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The firm has a market cap of $48.95 billion, a PE ratio of 32.53, a P/E/G ratio of 1.63 and a beta of 0.44. The business’s 50-day moving average price is $233.28 and its two-hundred day moving average price is $231.85.
Cencora Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. Cencora’s payout ratio is currently 29.29%.
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.
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