23,420 Cencora, Inc. $COR Shares Bought by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Cencora stake by 1,255.1%, purchasing 23,420 additional shares and bringing its holdings to 25,286 shares valued at approximately $7.6 million. Institutional investors collectively own 97.52% of the stock.
• Cencora reported quarterly EPS of $4.48, beating estimates of $4.35, while revenue rose 5.1% year over year to $84.75 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $365.69.
• The company’s shares opened at $325.63, up 0.5%, and Cencora recently paid a quarterly dividend of $0.60 per share, equivalent to an annualized yield of approximately 0.7%.

NorthCrest Asset Manangement LLC increased its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 1,255.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,286 shares of the company's stock after buying an additional 23,420 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Cencora were worth $7,592,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in COR. Steph & Co. lifted its position in Cencora by 23.5% during the first quarter. Steph & Co. now owns 168 shares of the company's stock valued at $53,000 after purchasing an additional 32 shares in the last quarter. Cornerstone Wealth Group LLC lifted its position in shares of Cencora by 1.6% during the 1st quarter. Cornerstone Wealth Group LLC now owns 2,434 shares of the company's stock valued at $760,000 after buying an additional 38 shares in the last quarter. OLD National Bancorp IN grew its stake in shares of Cencora by 0.4% during the 1st quarter. OLD National Bancorp IN now owns 9,964 shares of the company's stock valued at $3,130,000 after acquiring an additional 40 shares during the period. Staley Capital Advisers Inc. increased its stake in shares of Cencora by 0.7% in the first quarter. Staley Capital Advisers Inc. now owns 6,127 shares of the company's stock worth $1,925,000 after purchasing an additional 40 shares in the last quarter. Finally, Elmwood Wealth Management Inc. raised its position in shares of Cencora by 0.9% during the 2nd quarter. Elmwood Wealth Management Inc. now owns 4,314 shares of the company's stock valued at $1,221,000 after purchasing an additional 40 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Elizabeth Campbell sold 11,300 shares of the company's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares of the company's stock, valued at $6,305,754.60. This represents a 36.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COR. Weiss Ratings raised shares of Cencora from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, October 6th. Leerink Partners boosted their target price on Cencora from $380.00 to $388.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 7th. Evercore reissued an "outperform" rating and set a $350.00 price target (up from $330.00) on shares of Cencora in a research note on Thursday, August 6th. Citigroup restated a "buy" rating on shares of Cencora in a report on Thursday, August 6th. Finally, Bank of America lifted their price objective on Cencora from $285.00 to $310.00 in a research note on Tuesday, July 21st. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and a consensus target price of $365.69.

Cencora Stock Up 0.5%

NYSE:COR opened at $325.63 on Tuesday. The stock has a fifty day simple moving average of $318.82 and a 200-day simple moving average of $302.72. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. The company has a market cap of $62.14 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 1.66 and a beta of 0.58. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.35 by $0.13. The company had revenue of $84.75 billion for the quarter, compared to analysts' expectations of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. Cencora's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.00 earnings per share. Analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora's payout ratio is 17.83%.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.

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