3,290 Cencora, Inc. $COR Shares Sold by Sterling Capital Management LLC

Key Points

• Sterling Capital Management reduced its Cencora stake by 35.2%, selling 3,290 shares and retaining 6,062 shares valued at approximately $1.82 million.
• Institutional ownership remains substantial at 97.52%, with several major investors—including Bank of America, Amundi and Carmignac Gestion—expanding their positions.
• Analyst sentiment is positive: Cencora has a consensus “Moderate Buy” rating and an average price target of $366.44, while the company recently exceeded quarterly earnings and revenue expectations.

Sterling Capital Management LLC lowered its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 35.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,062 shares of the company's stock after selling 3,290 shares during the period. Sterling Capital Management LLC's holdings in Cencora were worth $1,820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COR. BlackRock Inc. acquired a new stake in shares of Cencora during the 2nd quarter valued at approximately $5,154,136,000. Bank of America Corp DE boosted its stake in shares of Cencora by 6.9% during the 1st quarter. Bank of America Corp DE now owns 4,138,388 shares of the company's stock worth $1,300,033,000 after acquiring an additional 267,318 shares in the last quarter. Amundi grew its holdings in shares of Cencora by 43.5% in the 2nd quarter. Amundi now owns 2,229,326 shares of the company's stock worth $630,855,000 after acquiring an additional 676,066 shares during the period. Carmignac Gestion grew its holdings in shares of Cencora by 58.7% in the 2nd quarter. Carmignac Gestion now owns 1,747,363 shares of the company's stock worth $494,463,000 after acquiring an additional 646,112 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Cencora by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,549,047 shares of the company's stock worth $486,576,000 after acquiring an additional 35,569 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of Cencora stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the sale, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Argus raised their price objective on Cencora from $340.00 to $380.00 and gave the company a "buy" rating in a research note on Tuesday, October 20th. Robert W. Baird boosted their target price on Cencora from $373.00 to $375.00 and gave the stock an "outperform" rating in a research report on Thursday. Citigroup reissued a "buy" rating on shares of Cencora in a report on Thursday, August 6th. Leerink Partners raised their price target on Cencora from $380.00 to $388.00 and gave the company an "outperform" rating in a research report on Wednesday, October 7th. Finally, Evercore restated an "outperform" rating and issued a $350.00 price target (up from $330.00) on shares of Cencora in a research report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Cencora has a consensus rating of "Moderate Buy" and an average price target of $366.44.

Cencora Price Performance

COR stock opened at $330.77 on Monday. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The stock's 50 day moving average price is $322.35 and its 200 day moving average price is $303.94. The firm has a market cap of $63.12 billion, a P/E ratio of 24.57, a PEG ratio of 1.70 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating analysts' consensus estimates of $4.35 by $0.13. The firm 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 quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.00 EPS. On average, sell-side analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were paid 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 dividend payout ratio (DPR) is presently 17.83%.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.

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