Bank of America Corp DE Has $1.17 Billion Stock Holdings in Cencora, Inc. (NYSE:COR)

Bank of America Corp DE raised its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 62.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,193,807 shares of the company's stock after purchasing an additional 1,994,256 shares during the period. Bank of America Corp DE owned about 2.69% of Cencora worth $1,166,944,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Hickory Asset Management Inc. acquired a new position in Cencora during the 4th quarter valued at about $572,000. Sylvest Advisors LLC acquired a new position in shares of Cencora in the 4th quarter valued at about $1,105,000. Insight Wealth Strategies LLC grew its stake in Cencora by 124.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company's stock valued at $4,549,000 after purchasing an additional 11,232 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Cencora by 46.9% during the 4th quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company's stock worth $1,403,000 after purchasing an additional 1,995 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Cencora by 71.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company's stock valued at $1,583,000 after acquiring an additional 2,928 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Trading Up 4.5 %

Shares of NYSE:COR traded up $13.23 during trading on Wednesday, hitting $304.04. 2,384,298 shares of the company's stock were exchanged, compared to its average volume of 1,509,714. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The firm has a market cap of $58.96 billion, a P/E ratio of 43.25, a PEG ratio of 1.31 and a beta of 0.60. The firm has a 50-day moving average price of $274.32 and a two-hundred day moving average price of $252.29. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $308.93.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. The company had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.80 EPS. Equities analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Elizabeth S. Campbell sold 4,127 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the completion of the sale, the executive vice president now directly owns 14,665 shares of the company's stock, valued at $3,934,326.20. This trade represents a 21.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Silvana Battaglia sold 5,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now owns 15,374 shares in the company, valued at approximately $3,724,197.76. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,223 shares of company stock valued at $13,580,967. Company insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

COR has been the subject of several recent analyst reports. UBS Group increased their target price on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company increased their price objective on Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Morgan Stanley set a $288.00 target price on shares of Cencora in a research note on Tuesday, April 15th. Evercore ISI upped their target price on shares of Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $290.00.

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.